Consolidated Interiors Limited (CIL)
          Our Subsidiary, CIL is engaged in the provision of interior contracting and fit out services for our own projects and to a range of third party public and private sector clients. It was formed as a result of a goodwill agreement entered into between our Company and Trendtech CDAC, an entity engaged in providing interior contracting services. For further details in this regard, please refer to “History and Certain Corporate Matters – Consolidated Interiors Limited”.

     The core services provided by Consolidated Interiors Limited include the manufacture and assembly of wood and wood based products including doors, windows, flooring, ceilings, panelling and custom built furniture for commercial and residential use. While Consolidated Interiors Limited does possess an in house design capability, it typically engages in the execution of interior design schemes and production specific drawings received from clients and third party designers. We propose to strengthen our in house design capability and develop a dedicated interior design team within Consolidated Interiors Limited with the objective of providing integrated design and execution services in the interiors space.

     CIL typically operates from our project sites and engages in the on site fabrication and installation of interiors. We are proposing to carry out the above fabrication operations at a dedicated factory for which we are currently in the process of identifying land. We have also identified the equipment for our interiors factory and estimate that we will be required to incur an expenditure of Rs. 57.55 million. For further details on the proposed factory to be constructed for CIL see “Objects of the Issue” on page 27. The primary raw material for our interiors division includes timber, wood, plywood, gypsum board, floor titles, false ceiling panels and work stations, which we source locally and import. As of May 25, 2007, Consolidated Interiors Limited employed 60 employees of which 38 were engaged in providing services at various project sites. As of March 31, 2007 Consolidated Interiors Limited had a total income of Rs.157.08 million.
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