Ground up development with build to lease strategy

The pad site for 27,000 sq.ft lease only commercial complex is acquired in 2003. The complete
build out and lease of this property started in 2005 and has been in 100% lease since. This 5
storied commercial complex is in the prestigious Jubilee Hills, Road 36 of Hyderabad.
The property has been generating 14.5 % average annual rate of return since its lease out in
2005.