We are one of the largest real estate development companies in India, based on the size of our Land Reserves available for development and number of locations in which our Land Reserves are located, which consist of approximately 8,484.65 acres of land, including 4,194.10 lacs square feet of saleable area, which we own or for which we hold contractual development rights. Our business plan is focused on developing 88 integrated townships under the "Sahara City Homes" brand name and 15 residential complexes under the "Sahara Grace" brand name across 99 cities in India. An integrated township typically will consist of a gated community with residential units in the form of apartment towers, townhouses and individual houses together with ancillary facilities such as schools, a hospital, a hotel, retail and leisure facilities. Our residential complexes typically will be smaller scale developments comprised solely of residential units. Our primary source of revenue is expected to be from the construction and sale of residential units within our integrated townships.

We currently have construction under way for nine integrated townships and one residential complex, which in the aggregate are planned to comprise approximately 547.10 lacs square feet of saleable area, 85.00 lacs square feet of which is already under construction. We plan to deliver the first residential units in 2011 in our integrated townships in Indore, Nagpur and Lucknow, which are scheduled to be completed in 2013, 2013 and 2017, respectively. We refer to these 10 projects under development, for which land or land development rights have been fully acquired and construction has commenced, as Ongoing Projects. We have an additional 16 integrated townships for which we expect to commence construction within the next 12 months, which we refer to as Forthcoming Projects, which in the aggregate are currently planned to comprise approximately 884.70 lacs square feet of saleable area. We refer to our remaining 77 projects as Upcoming Projects, which in the aggregate are currently planned to comprise approximately 2,762.30 lacs square feet of saleable area.

We are part of the Sahara Group, a major business conglomerate in India. The Sahara Group has operations in multiple sectors, including real estate, infrastructure and housing, financial services, housing finance, mutual funds, life insurance, print and television media and film production and distribution, information technology, medical, tourism hospitality and consumer products. The Sahara Group was founded in 1978 and has grown to an asset base of approximately US $12.0 billion to date. Over the past 10 years, the Sahara Group has completed four township projects under the "Sahara States" brand name, located in Lucknow, Hyderabad, Bhopal and Gorakhpur. During that same period, the Sahara Group completed two residential complexes, in Gurgaon and Lucknow, under the "Sahara Grace" brand name, two additional residential projects in Gorakhpur and Lucknow and five retail centers, for a total saleable area of 110.53 lacs square feet. This total saleable area was comprised of approximately 68.16 lacs square feet of residential area, approximately 23.82 lacs square feet of retail and commercial area, approximately 8.00 lacs square feet of healthcare-related area and approximately 10.55 lacs square feet of hospitality- related area. The Sahara Group also has developed approximately 150.00 lacs square feet of saleable area, including facilities to be operated by the Sahara Group or leased to third parties, at Aamby Valley City, a large scale luxury township project. In addition, the Sahara Group has developed approximately 85 kilometers of roads, 350 acres of landscaped area, an airport at Aamby Valley City with a 1,200 meter runway, 12 power stations, three dams and 11 artificial bodies of water.