NITCO TILES LIMITED

1. NITCO TILES LIMITED Investor Presentation August 2007

2. Nitco Group was established in 1956 by Mr. Pran Nath Talwar by setting up a unit to manufacture Cement Tiles in Delhi. The Group today has established a prominent position in the building product segment and has interest in the following lines of business: 1) Cement Tiles 2) Processing and distribution of imported marble 3) Manufacturing of premium range of Ceramic Tiles 4) Contract manufacturing of vitrified tiles from China. 5) Real Estate NITCO Group

3. Nitco Tiles was incorporated on July 25, 1966 by Mr. Pran Nath Talwar. The Company is today managed by Mr. Vivek Talwar, Son of Mr. Pran Nath Talwar, Managing Director of the Company. Nitco Tiles Limited

4. Not just another tile Company, a unique Flooring Solution Company. Manufacture of premium range of Ceramic Tiles Manufacture of vitrified tiles through contract manufacturing in China. Processing and distribution of imported marble. Manufacture of Cement Tiles Business of the Company

5. Key Events

6. Manufacturing of only premium ceramic tiles from the Company’s manufacturing facilities at Alibaug. Vitrified tiles and paving tiles to be manufactured in China (Contract manufacturing). Be a leader in processing of imported marble. Add new products like sanitary ware, bathroom fittings through outsourcing for sale within the existing dealer network. Business Strategy

7. Nitco Tiles Limited has consciously taken a decision not to manufacture simple products like plain tiles, etc. Some of the premium products manufactured by the Company; Ceramic Floor Tiles – Wood Series Aqua series Rustic Inviza Metallica SPA Collection Leather Finish Matrix Mosaico Due to such value added products, the average realization of the Company is higher by 25-30% as compared to its peers. Premium Products Range

8. Imports of Vitrified Tiles from China attract anti dumping duty @ US$ 8.28 per sq. mtrs. (300%) Imports by Nitco of vitrified tiles from China does not attract anti dumping duty. Anti Dumping Duty

9. The guidelines / policy for import of rough Marble Blocks / Slabs have been substantially modified from August 31, 2005. The total entitlement is now subject to a ceiling of 1.30 lakh MT per licensing year. The entitlement of individual eligible firm will be worked out on the basis of the turnover of each of the eligible firms in the preceding year. The major changes with regard to the new policy are as follows: 4/5 star hotels, temples / trusts of international repute will now no longer be allowed to import marble blocks / slabs directly. Import of marble blocks can in future be made only by marble processing units. The eligibility for issue of import licences to eligible firms will be on the basis of the turnover in the preceding year. Nitco Tiles has received import license for 2005-06 of 12816 MT against 2392 MT in the previous year. Nitco has benefited from this allocation as it has the highest turnover amongst the eligible firms. For 2006-07, Nitco Tiles received licence to import 14424 MT of Marble. GoI Policy – Marble Imports

10. All India distribution network with more than 550 direct dealers and more than 5000 retail outlets spread across the country. 15 Marketing Offices across the country. 130 NITCO shop in shops which help promote and sell products to the consumers. 15 exclusive showrooms in major cities namely Mumbai, Pune, Ahmedabad, Nasik, Indore, New Delhi, Chandigarh, Lucknow, Kolkatta, Chennai, Hyderabad, Bangalore, Coimbatore and Cochin. 130 Nitco nooks across the country which act as shop-in-shop. Only company in the industry with customer helpline service. Marketing Network

11. Nitco is a well known brand in tiles industry for over 4 decades. Nitco brand Ambassador is Ms. Perizaad Zorabian a well known celebrity. Advertising on T.V. to improve visibility of brand. The brand attributes are innovation, fast mover, younger and modern, premium and classy. Branding

12. The size of the Ceramic tiles industry is around 5000 crores ( In excess of US$ 1 Billion). 50% of the industry is in unorganized sector. Ceramic Industry is growing at the rate of 20%. Nitco has grown by 51% in F.Y. 2007 over previous year. Industry Overview

13. Factors – Sustained growth of the Ceramic Tiles Industry Booming economy Increased spending on Infrastructure General market doing well (including stock market) Higher Affordability due to higher real Income Continued tax sops to Housing Increasing number of nuclear families - ITES, retail boom to bolster demand Incremental demand from industrial projects Industry Growth Story Source: ICCTAS

14. Financial Overview

15. Financial Overview

16. Expansion of Ceramic Floor Tiles • Nitco Tiles Limited came out with its IPO in February, 2006 which received an overwhelming response from investors. The Company collected Rs. 1680 mn at a premium of Rs. 158/- per share which have been deployed as under:- The Company’s shares are listed on Bombay Stock Exchange and National Stock Exchange. The High was Rs. 272.40 and Low was Rs. 125.00 on NSE.

17. Higher growth by Nitco Nitco growth (over a period of 5 years) highest in the IndustryCAGR of Topline growth over the period of five years of Kajaria Ceramics, Murudeshwar Ceramics and Nitco Tiles as under:

18. Not just mid-margin realizations, but premium boutique profitability NITCO Tiles believes that it is a balance of value and volumes that protects sustainability. The Company is convinced that a sharp increase in incomes is only beginning to translate into a sharp increase in flooring spendings. Market environment catalysed by two realities; evolution of interiors into a status symbol and widening of the market with imported varities. It has made a prudent and timely presence in high-end products marked by low competition. Premium boutique profitability

19. This strategy reconciles the interest of shareholders, dealers and consumers. The strategy served as an effective hedge against interest and fuel costs, both outside the company’s control. The Company’s EBIDTA margins strengthened from 15.62% in 2005-06 to 17.16% in 2006-07. Return on employed capital strengthened to 15.59% in 2006-07 as compared to 13.22% in 2005-06. Premium boutique profitability

20. Not just a manufacturing focus, but also a contract manufacturing strategy NITCO Tiles represents the best of a global business model: manufacture either in India or abroad, market in India or abroad The company’s model enjoys a flexibility between ‘make and sell’ and ‘buy and sell’ Its approach has minimized capex investment in a low capital-output business It has selected to outsource from a geography that possesses the most attractive economies of scale It has secured its low cost outsourcing advantage through a long-term purchase agreement with two large manufacturers in China CONTRACT MANUFACTURING STRATEGY

21. The relationship represents a prudent win-win: NITCO provides designs and monitors quality; the manufacturer invests in scale and manufacturing excellence The company has strengthened its supply chain to reach customers quicker and cheaper The hybrid model provides a significant opportunity to scale revenues in the shortest time; revenues from the outsourced vitrified tiles jumped 50% in 2006-07. CONTRACT MANUFACTURING STRATEGY

22. Not just a focus on selling more, but in innovating faster and better NITCO Tiles positions its product around innovation, innovation and innovation In doing so, the company has ventured to create sub-markets where none existed This has been derived from an ability to see trends and move with proactive speed It has demonstrated an ability to extend a tile into a lifestyle statement This capability has been repeatedly endorsed through an ability to correctly produce, position, promote and price This ability has extended from tile innovation to floor solution comprising a unique and non-repeat assortment of tiles within a collection Its approach is not innovation for innovation’s sake - but realizations higher than the industry standard Innovating faster and better

23. Not just an impressive track record, but an optimistic future NITCO Tiles is positioned on the cusp of unprecedented growth Unprecedented growth being foreseen in India’s residential, commercial and retail segments The company enjoys established institutional relationships with players like Hiranandanis, Rahejas, Pantaloons, Reliance Retail, Infosys, Shobha Developers, Godrej Properties, DLF, Unitech, Oberoi Construction, Keystone, Piramals, Nirmal Lifestyle, Shrusti, Runwal and RNA in Mumbai in addition to several large corporate houses, banks and financial institutions. The company’s new ceramic tile (floor) capacity of 2.28 mn square metres per annum went on stream in May 2006 The number of institutional orders is increasing; besides, the quantum of each order is getting bigger The wiring of the organization with SAP is leading to sales acceleration and inventory saving A change in India’s marble policy has increased the company’s import quota The proposed extension of the GAIL pipeline from Dahej to Uran will help the company access natural gas a feedstock from end 2007 onwards India’s largest SEZ will come up around Mumbai - where a fifth of our sales takes place - in a few years from now Optimistic future

24. Mr. Pran Nath Talwar, Chairman Founder of Nitco Group and our Company. 50 years of experience in tile industry. Honored by the Institute of Trade and Industrial Development for excellence in Industrial performance. Mr. Vivek Talwar, Managing Director 27years of experience in the tile industry. operational responsibility and the day-to-day functioning of the Company Instrumental in setting up plant at Alibaug to manufacture ceramic floor tiles and in diversifying the business into new activities such as marketing of imported - marble and vitrified tiles in India. Ms. Poonam Talwar, Whole-Time Director Bachelors Degree in Commerce and an LLB In charge of mosaic tiles business Instrumental in marketing of interlocking pavers in the domestic market. Mr. Dinesh H. Kanabar, Independent Director An eminent Chartered Accountant and is a senior partner in the RSM and Company, Chartered Accountants. Has specialized in Tax and Business Advisory Services with specialization in International Taxation. An advisor to several global organizations for providing expert counsel on cross-border tax issues. Mr. S.K. Bhardwaj, Independent Director Postgraduate from Punjab University. Held various senior positions with the Government of India. Vast experience of nearly 36 years in the field of indirect Taxation, Public administration, etc. He has dealt with issues relating to the fiscal policy and VAT at the Harvard University, Boston, USA. Mr. Atul Sud, Independent Director Post Graduate Diploma in Business Management, IIM Ahmedabad, Masters in Economics degree from the Delhi School of Economics Over a decade of service at a senior position at American Express Bank as India head for commercial banking, treasury and investment banking Founder of the Strategic Group. Experienced Board

25. Mr. Kalyan Paul – Chief Operating Officer aged 50 years - MBA from Indian Institute of Social Welfare and Business Management – Calcutta - responsible for handling the entire Operations of Nitco Tiles Mr. K. Ramachandran – Global Head-Manufacturing, aged 58 years, Mechanical Engineering from IIT Madras, Institute of Cost and Works Accountants of India and a Diploma in Ceramics from Indian Institute of Ceramic Technology, Jadavpur University, Kolkata. More than 27 years of experience in ceramic tiles manufacturing and 10 years with the company. Responsible for the manufacturing operations of the ceramic tiles unit at Alibaug and quality standards by the outsourcing vitrified tiles unit to China. Mr. B.G. Borkar – Chief Financial Officer and Company Secretary (CFO & CS), aged 45 years, A Chartered Accountant and Company Secretary with more than 10 years with the company. Was responsible for project funding as well as setting up the systems and procedures ceramic tiles unit at Alibaug. Responsible for accounts, finance and secretarial functions. Mr. Sushil Matey - President–Sales and Marketing, aged 43 years, A degree holder in Electronics and Power from VRCE, Nagpur and a PG Diploma in Management from IIM, Calcutta. Been with the company for 4 years and is responsible for the entire sales and marketing function of our company excluding marble and mosaic tiles division. Mr. N.G.Naik –President-Corporate HR, aged 51 years, B Com, LLB, a Diploma in Labour Laws and Labour Welfare and a Master of Labour Studies from Mumbai University. Been with the company for 9 years and is responsible for the entire HR and IR functions. Experienced Management

26. Shareholding Patternas on June 30, 2007

27. Distribution of shareholding As on 30th June, 2007

28. Thank You REGISTERED OFFICE & CORPORATE OFFICE: 8th Floor, Maker Chambers III, Nariman Point, Mumbai - 400021. Maharashtra, India. Tel. No: +91-22-6752 1555; Fax. No. +91-22-2202 4404, Website: www.nitcotiles.com, E-mail: ipo@nitcotiles.com.