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Passport to the New India Due Diligence Trip

November 30th -  December 6th

The entire Excel Funds Management Inc. team takes great pleasure in welcoming you to India, the world’s fastest growing economy. Prime Minister, Narendra Modi’s vision for a more modern India is beginning to take shape and we invite you to come and see it unfold right before your eyes. Join us as we take you on a firsthand journey through what is not only a captivating country but also one of the most fascinating long-term development stories of our era.

If you are an advisor and are interested, please contact Caroline Grimont, Vice President, Marketing at Excel Funds Management Inc. at

The New India - Due Diligence to the Trip

Dear Fellow Investors,

In this booklet you will find the details of our due diligence trip to India. I am very pleased to welcome you to the country with the fastest growing economy in the world today and thank you for joining me on this exciting trip.

As you know, led by the business-friendly visionary, Prime Minister Narendra Modi, and fuelled by economic growth, a young, expanding, highly educated and upwardly mobile middle class, substantial foreign investment; India is expected to become a global powerhouse.

The Hon. P.M. Modi has introduced great initiatives like the “Make in India” to fuel manufacturing and productivity as well as infrastructure which will attract foreign investors. Other initiatives like ‘Digital India’ and pro-business strategies are set to put India on the global road map.

I am very enthusiastic about offering you the opportunity to experience India’s vibrant economy and see these changes firsthand. During our visit you will meet with the management teams of some of India’s leading companies, hear from key Ministers and Department Heads in India’s business-friendly government and actually witness India’s transformation for yourself.

At Excel Funds, we have always been – and remain – committed to continuously bringing new and exciting emerging market investment opportunities to all Canadian investors.
I know you will find this trip to India to be richly rewarding. Best regards,

Bhim D. Asdhir
President & Chief Executive Officer

November 2015 Due Diligence Meetings & Presentations

Day 1
Monday November 30, 2015

Birla Sun Life Offices | The Aditya Birla Group

Aditya Birla Logo

Meeting with:
- Mr. Ajay Srinivasan,Chief Executive, Aditya Birla Financial Services Group
- Mr. A. Balasubramanian, CEO, Birla Sun Life Asset Management
- Mr. Vikas Gautam, CEO, Offshore Business
- Mahesh Patil, Co-CIO, Equities
- Maneesh Dangi, Co-CIO, Fixed Income
- Apurva Muthalia, CEO, Aditya Birla Real Estate Fund
- Tushar Shah, CEO, Aditya Birla Finance Limited - Infrastructure Business
- A Dhananjaya, Head of Risk and Compliance, ABFSG
- Mrs. Rama Vasantharajan, Head of Risk and Compliance, BSLAMC
The Aditya Birla Group is an Indian multinational conglomerate, headquartered in Mumbai, India. The group had revenues of approximately US$45 billion in 2014.
The Birla Sun Life Group is one of India's leading independent asset managers, with over US$19 billion in assets under management as at February 28, 2015. Birla Sun Life Asset Management Company Limited has provided on-the-ground management to the Excel India Fund since 1998, with a track record of outperformance.

Day 2
Tuesday December 1, 2015

Godrej Consumer Products Limited

Godrej Consumer Products Limited

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- Meeting with Godrej Consumer Products Ltd
Godrej Consumer Products Limited is an Indian consumer goods company based in Mumbai, India. GCPL's products include soap, hair colourants, toiletries and liquid detergents.

Included in presentation:
  • Business snapshot
  • Leading market positions
  • Business performance
  • India business performance
  • Growth opportunities
  • International business statistics
Day 3
Wednesday December 2, 2015

Larsen & Toubro Infotech Ltd. | Tata Consultancy Services | SKS Microfinance Limited | Ahuja Constructions

Larsen & Toubro

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- Meeting with Larsen & Toubro (L&T)
Larsen & Toubro Infotech Ltd. (L&T Infotech), one of the fastest growing global IT services company, is ranked by NASSCOM as the 8th largest software & services exporter from India and among the top 20 IT BPO employers in 2013. It is a wholly-owned subsidiary of Larsen & Toubro (L&T), a multi-billion conglomerate, and India’s largest technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

Included in presentation:
  • L&T Overview
  • Business Overview
  • Group Performance
  • Growth opportunities
  • Sectoral Opportunities & Outlook

Tata Consultancy Services

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- Meeting with Tata Consultancy Services Limited (TCS)
Tata Consultancy Services Limited (TCS) is a global IT services, business solutions and outsourcing company headquartered in Mumbai, and a subsidiary of the Tata Group conglomerate.

Included in presentation:
  • Forward Looking Statement
  • Tata Consultancy Services
  • The Journey so far…
  • Headroom for Future Growth
  • Long Term Growth: Key Enablers
  • Strong Foundation

SKS Microfinance

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- Meeting with SKS Microfinance Limited
For more than ten years, SKS microfinance has provided opportunities for poor families to gradually lift themselves out of poverty. Microfinance serves as an important foundation for broader development, which includes improvements in health, education and political participation.

Included in presentation:
  • Highlights of Q2FY16
  • Operational Highlights
  • Review of Financials
  • Financial Architecture
  • Capital Structure
  • Annexures

Ahuja Constructions

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- Real Estate Site Visit with Ahuja Constructions
For over three decades, Abuja Construction has been proudly punctuating the Mumbai skyline with homes, introducing the urban resident to the art of extraordinary living.

Included in presentation:
  • Our vision
  • Strategy statement
  • Our values
  • The promoters
  • Ahuja group portfolio
  • Real estate business