This document contains the following reports

Earnings Update Analyst Presentation Press Table

Earnings Update FY11 Results May 5, 2011

Performance Highlights Consolidated PAT for FY11 up 20% to ` 15,667 mn from ` 13,070 mn in FY10. Consolidated PAT for Q4FY11 ` 4,914 mn - up 17% from ` 4,186 mn in Q4FY10 and up 28% from ` 3,836 mn in Q3FY11. Highest PAT in the 25 year history, both for the year and for the quarter. Consolidated advances up 39% to ` 412 bn as on March 31, 2011 from ` 297 bn as on March 31, 2010. Consolidated NIM FY11 at 5.6%. (FY10 6.1%). Consolidated capital adequacy ratio as per Basel II as on March 31, 2011 is 19.5%. Tier 1 ratio 18.1%. Bank (Standalone) PAT for FY11 up 46% to ` 8,182 mn from ` 5,611 mn in FY10. Bank (Standalone) PAT for Q4FY11 ` 2,487 mn - up 23% from ` 2,025 mn in Q4FY10 and up 32% from ` 1,879 mn in Q3FY11. CASA deposits as on March 31, 2011 ` 87,905 mn, comprising 30% of total deposits. PAT of Kotak Life for FY11 up 46% to ` 1,014 mn from ` 692 mn in FY10. Total assets managed/ advised by the Group as on March 31, 2011 were ` 479 bn (March 31, 2010 ` 452 bn). Kotak Mahindra Bank was among the top 25 employers in India as per the Hewitt Best Employers in India study 2011. It is the only BFSI Company included in the top 25 employer category.

Consolidated Financials Revenues Q4 FY11 (3 months) Financing activities Fee Income* Premium Income Treasury Others Others Total Revenues** *Fee income is net of sub brokerage. **exclude treasury (policyholders) income Analytical Ratios As on Mar 31, 2011 Networth (` mn) Book value per share * (`) Face value ` 5 Net Interest Margin (%) ROA (excluding policyholders assets) (%) (Annualised) Return on average Networth (%) (Annualised)
* Adjusted for split $ Normalised

Q4 FY10 (3 months) 9,592 3,199 11,374 3,118 1,818 29,101

Q3 FY11 (3 months) 12,776 3,017 6,044 4,159 539 26,535

FY11 (12 months) 47,166 12,832 29,399 14,967 2,422 106,786

` million FY10 (12 months) 35,231 12,837 28,493 12,019 3,241 91,821

13,518 3,340 10,630 4,074 772 32,333

As on Dec 31, 2010 105,024 142.6 5.6%

$

As on Mar 31, 2010 79,109 113.6 6.1% 3.3% 18.2%

109,629 148.8 5.6%

$

3.0% 16.4%

2.8% 15.6%

Consolidated Financials Assets Advances Commercial vehicles & Construction equipments Auto loans Mortgage Loans Personal loans Agriculture Finance Corporate Banking Others Total Advances Investments/ Treasury Assets * Total Advances and Investments NPA (excluding acquired stressed assets) GNPA GNPA (%) NNPA NNPA % * Does not include policy holders investments. Consolidated Financials Liabilities As on Mar 31, 2011 273,130 220,733 As on Mar 31, 2010 218,192 154,481 ` million As on Dec 31, 2010 261,966 199,805 4 As on Mar 31, 2011 62,511 85,502 68,765 13,068 42,196 108,654 31,725 412,420 182,791 595,211 4,686 1.13% 1,776 0.43% As on Mar 31, 2010 44,142 65,418 47,650 13,540 30,886 71,943 23,663 297,243 147,624 444,867 6,468 2.16% 3,378 1.14% ` million As on Dec 31, 2010 55,485 79,935 66,261 12,268 37,528 115,940 33,547 400,964 157,690 558,654 6,031 1.49% 2,040 0.51%

Deposits Borrowings

Consolidated Financials Company-wise Profit after Tax Q4 FY11 (3 months) Kotak Mahindra Bank (Standalone) Kotak Mahindra Prime Kotak Securities Kotak Mahindra Capital Company Kotak Mahindra Old Mutual Life Insurance Kotak Mahindra AMC & Trustee Co International subsidiaries Kotak Investment Advisors Kotak Mahindra Investments Others Total consolidated profit after tax Affiliates, minority interest & other adjustments PAT (after minority interest / adjustments) 2,487.0 868.6 361.6 300.4 712.1 35.6 150.2 59.1 56.9 (2.0) 5,029.6 (115.9) 4,913.8 Q4 FY10 Q3 FY11 (3 months) (3 months) 2,025.0 585.9 507.8 133.3 444.2 148.1 139 70.2 68.3 (2.0) 4,119.8 65.7 4,185.5 1,878.7 936.8 466.4 76.2 236.1 72.4 82.0 54.4 27.6 (0.5) 3,830.3 5.4 3,835.7 FY11 (12 months) 8,181.8 3,178.6 1,819.4 518.9 1,013.6 173.0 511.7 327.1 240.0 (3.0) 15,961.1 (293.6) 15,667.4 ` million FY10 (12 months) 5,611.1 1,664.1 2,601.0 238.6 692.2 724.6 803.4 397.5 346.6 (4.9) 13,074.4 (4.4) 13,070.0

Bank Performance Highlights Bank (Standalone) PAT for FY11 up 46% to ` 8,182 mn from ` 5,611 mn in FY10. Bank (Standalone) PAT for Q4FY11 ` 2,487 mn - up 23% from ` 2,025 mn in Q4FY10 and up 32% from ` 1,879 mn in Q3FY11. Net Interest Income (NII) of the Bank (Standalone) for FY11 up 21% yoy to ` 22,451 mn vs. ` 18,581 mn in FY10. NII for Q4FY11 up 18% yoy to ` 6, 216 mn vs. ` 5,260 mn in Q4FY10 (Q3FY11 ` 5,715 mn). Advances up 41% to ` 293 bn as on March 31, 2011 from ` 208 bn as on March 31, 2010. Retail Banking profit for FY11 ` 3,387 mn against ` 611 mn in FY10, large contribution from lending activities. Corporate Banking profit for FY11 up 41% to ` 5,439 mn against ` 3,855 mn in FY10. CASA deposits comprised 30% of total deposits as on March 31, 2011. Capital adequacy ratio of the Bank as per Basel II as on March 31, 2011 is 19.9%. Tier 1 ratio 18.0%. As at March 31, 2011, excluding the acquired stressed assets, the gross non performing assets of the Bank stood at ` 3,618 mn (1.23% of advances) while the net non performing assets stood at ` 1,460 mn (0.5% of advances). As at March 31, 2011, the provision coverage ratio is 70.1%. As on March 31, 2011, the Bank had 321 full-fledged bank branches (249 branches as on March 31, 2010) across 182 locations and 710 ATMs. Kotak Mahindra Bank was awarded Best Private Bank by Euromoney 2011. The Bank also won 16 other awards by Euromoney in various categories.

Kotak Mahindra Bank Standalone ` million Revenues Treasury & BMU* Corporate/Wholesale Banking Retail Banking Sub-total Unallocated income & inter-segment revenue Total Q4 FY11 (3 months) 4,135 4,947 9,036 18,118 (3,878) 14,239 Q4 FY11 (3 months) 1,065 1,697 990 1,768 (664) (114) 3,751 3,751 Q4 FY10 (3 months) 3,057 4,251 6,324 13,632 (2,310) 11,323 Q4 FY10 (3 months) 1,019 1,575 515 1,354 (561) (278) 3,109 (29) 3,080 Q3 FY11 (3 months) 3,896 4,154 8,263 16,313 (3,306) 13,007 Q3 FY11 (3 months) 573 1,311 838 1,817 (818) (161) 2,721 2,721 FY11 14,639 16,039 31,129 61,806 (12,440) 49,366 FY10 11,262 11,564 25,580 48,407 (9,568) 38,839 (12 months) (12 months)

Segmental PBT Treasury & BMU* Corporate/Wholesale Banking Retail Banking Lending Branch banking Credit cards Sub-total Unallocated income & inter-segment revenue Total * Balance Sheet Management Unit

` million FY11 FY10 (12 months) (12 months) 3,048 5,439 3,387 6,650 (2,633) (630) 11,874 3 11,877 3,675 3,855 611 3,775 (1,890) (1,274) 8,140 (29) 8,111 7

Kotak Mahindra Bank Standalone Assets ` million Advances Commercial vehicles & Construction equipments Mortgage loans Agriculture Finance Corporate Banking Personal loans Others Total Advances Advances as per segmental classification Retail Corporate Others Total Advances Investment / Treasury Assets Total Advances and Investments NPA (excluding acquired stressed assets) GNPA GNPA (%) NNPA NNPA % As on Mar 31, 2011 62,511 68,765 42,196 92,960 13,050 13,812 293,293 176,724 115,906 663 293,293 171,214 464,507 As on Mar 31, 2010 44,142 47,116 30,886 64,761 13,150 7,695 207,751 132,912 73,645 1,194 207,751 140,750 348,501 As on Dec 31, 2010 55,485 66,261 37,528 104,074 12,214 13,287 288,850 170,943 117,284 623 288,850 142,867 431,717

3,618 1.23% 1,460 0.50%

4,983 2.38% 2,572 1.25%

4,844 1.66% 1,645 0.57%

Liabilities As on Mar 31, 2011 87,905 153,889 50,816 292,610 117,239 As on Mar 31, 2010 74,631 120,373 43,860 238,865 77,029 ` million As on Dec 31, 2010 78,682 143,843 60,355 282,880 97,030

CASA Term Deposit Certificate of Deposit Total Deposits Total Borrowings

Key Subsidiaries Highlights Kotak Mahindra Prime (KMP) car finance, other lending ` million Q4 FY11 (3 months) Total income Profit before tax Profit after tax 3,651 1,294 869 Q4 FY10 (3 months) 2,735 909 586 Q3 FY11 (3 months) 3,840 1,417 937 FY11 (12 months) 13,648 4,819 3,179 FY10 (12 months) 9,921 2,589 1,664

Total advances as on March 31, 2011 are ` 111,450 mn (March 31, 2010 is ` 83,110 mn, December 31, 2010 ` 104,394 mn). Of above Car advances as on March 31, 2011 are ` 84,892 mn (March 31, 2010 is ` 64,673 mn, December 31, 2010 ` 79,489).

Net NPA as on March 31, 2011 are ` 313 mn (March 31, 2010 is ` 806 mn, December 31, 2010 ` 392 mn). Car business net NPA ratio 0.27% as on March 31, 2011 (March 31, 2010 0.37%, December 31, 2010 0.23%).

Kotak Mahindra Old Mutual Life Insurance (KLI) - life insurance ` million Q4 FY11 (3 months) First year Renewal Single Gross premium income Individual Group Profit/ (Loss) 2,389 5,462 2,871 10,721 9,525 1,196 712 Q4 FY10 (3 months) 4,457 5,220 1,694 11,371 10,130 1,241 444 As on Mar 31, 2011 AUM (` bn) Sum assured - Individual (` bn) Sum assured - Group (` bn) Solvency ratio Individual policies nos Group policies nos Branches Cities covered
83 446 854 2.67 1,150,037 727 202 152

Q3 FY11 (3 months) 1,581 4,214 313 6,108 5,582 527 236

FY11 8,570 17,224 3,962 29,755 26,877 2,878 1,014

FY10 10,838 15,340 2,502 28,680 26,467 2,213 692

(12 months) (12 months)

As on Mar 31, 2010 65 344 571 2.80 1,081,268 656 214 152

As on Dec 31, 2010 78 409 815 2.61 1,114,664 707 203 152 10

Kotak Mahindra Capital Company (KMCC) investment banking Q4 FY11 (3 months) Total income Profit before tax Profit after tax 603 397 300 Q4 FY10 (3 months) 394 192 134 Q3 FY11 (3 months) 301 97 76 FY11 (12 months) 1,543 702 519 ` million FY10 (12 months) 991 346 239

Kotak Investment Banking was Book Running Lead Manager in the following issuances State Bank of India Lower Tier II bonds IPO ` 55 bn; Tata Steel FPO ` 35 bn; Mahindra and Mahindra Financial Services QIP ` 4 bn; IDFC Infrastructure Bonds IPO ` 8 bn Kotak Investment Banking acted as: Exclusive financial advisor to Ispat Industries for strategic stake sale to JSW Steel through a preferential issue of shares, US$ 2.6 bn Manager to the buyback offer by Piramal Healthcare Limited via tender offer route, US$ 551 mn Manager to the Open Offer for Patni Computer Systems by iGate Corporation, US$ 303 mn Manager to the delisting offer by promoter group of Nirma Limited, US$ 174 mn Private Placement of 12.5% stake by Monnet Power Co to Blackstone Capital Partners (Mauritius) Limited, US$ 60 mn Manager to the Open Offer for Religare Enterprises Ltd. by RHC Financial Private Limited Manager to the Open Offer for ADC India Communications Limited by Tyco Electronics Limited Transaction Advisor and provider of Fairness Opinion for demerger of the agri and performance chemicals business from Jubilant Organosys Linited

11

During the year, Kotak Investment Banking received a number of prestigious awards including: Best Investment Bank in India by FinanceAsia 2010; Best Domestic Equity House by Asiamoney 2010; Best Equity House in India by FinanceAsia 2010; Best Bank for Equity Finance in India in the Euromoney Real Estate Poll 2010; Best Investment Bank in India by Global Finance 2010; Best Domestic Investment Bank by Asset Asian Awards - 2010

Kotak Securities stock broking ` million Q4 FY11 (3 months) Total income Profit before tax Profit after tax 1,694 559 362 Q4 FY10 (3 months) 1,872 841 508 Q3 FY11 (3 months) 1,957 709 466 FY11 7,376 2,716 1,819 FY10 8,379 4,039 2,601 (12 months) (12 months)

Kotak Securities clocked average daily volumes of around ` 46 bn during FY11 compared to around ` 39 bn during FY10. Kotak Securities accounted for 3.4% of total average daily market volumes for FY11. Kotak Securities has a network of over 1,413 offices (own & franchisees) across 454 cities and towns and services more than 661,000 secondary market customers.

12

Kotak Mahindra Asset Management Company and Trustee Company asset management Q4 FY11 (3 months) 301 22 16 29 28 19 323 38 Q4 FY10 (3 months) 395 198 130 29 27 18 373 50 ` million Q3 FY11 FY11 FY10 (3 months) (12 months) (12 months) 239 1,081 1,755 82 56 25 24 17 276 40 147 106 108 99 67 305 44 991 655 114 105 69 348 49

Total income (AMC) Profit before tax (AMC) Profit after tax (AMC) Total income (Trustee Company) Profit before tax (Trustee Company) Profit after tax (Trustee Company) Average AUM (` bn) Average AUM - Equity (` bn)

KMAMC has 82 branches and approximately 1 mn folios.

International Subsidiaries ` million Q4 FY11 (3 months) Total Income Profit before tax Profit after tax 356 149 150 Q4 FY10 (3 months) 344 130 139 Q3 FY11 (3 months) 349 70 82 FY11 FY10 (12 months) (12 months) 1,391 544 512 1,591 875 803

As on March 31, 2011 assets managed / advised by international subsidiaries were USD 2 bn. 13

Kotak Investment Advisors Limited (KIAL) alternate assets management/advisor Q4 FY11 (3 months) Total Income Profit before tax Profit after tax 261 97 59 Q4 FY10 (3 months) 244 116 71 Q3 FY11 (3 months) 231 88 54 FY11 961 492 327 ` million FY10 991 598 398

(12 months) (12 months)

KIAL manages / advises private equity and realty funds with commitments aggregating to ` 50 bn.

14

Safe Harbor This document contains certain forward- looking statements based on current expectations of Kotak Mahindra management. Actual results may vary significantly from the forward- looking statements contained in this document due to various risks and uncertainties. These risks and uncertainties include the effect of economic and political conditions in India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may impact the businesses of Kotak Mahindra Group as well as its ability to implement the strategy. Kotak Mahindra does not undertake to update these statements. This document does not constitute an offer or recommendation to buy or sell any securities of Kotak Mahindra Bank or any of its subsidiaries and associate companies. This document also does not constitute an offer or recommendation to buy or sell any financial products offered by Kotak Mahindra, including but not limited to units of its mutual fund and life insurance policies. All investments in mutual funds and securities are subject to market risks and the NAV of the schemes may go up or down depending upon the factors. and forces affecting the securities market. The performance of the sponsor, Kotak Mahindra Bank Limited, has no bearing on the expected performance of Kotak Mahindra Mutual Fund or any schemes there under. Figures for the previous period/ year have been regrouped wherever necessary to conform to current periods / years presentation. Totals in some columns/ rows may not agree due to rounding off. Contact Jaimin Bhatt / R Sundarraman Kotak Mahindra Bank Limited Tel: +91 22 6672 6000 Fax: +91 22 6672 6430 E-mail: investor.relations@kotak.com

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Analyst Meet 2011

Geographical Presence
Wide National Footprint with Multiple Points of Presence
Branch Mar 11 321 57 202 1,413 84 2,077

Business Banking Car Finance Life Insurance Securities Mutual Fund Total

~~8.8 mn customer accounts 8.8 mn customer accounts ~~20,000 employees 20,000 employees

Group Structure

Note: All companies are fully owned subsidiaries excepting KM Old Mutual which is held 74%

25 yrs.. A snapshot
PAT
1,600 1,567
42,000 35,000

Advances
41,242

1,200
28,000

(` cr)

800 538 400 22 FY 92 FY 97 FY 03 FY 07 FY 11 36 73

(` cr)

21,000 15,573 14,000 7,000 35 FY 92 FY 97 FY 03 FY 07 FY 11 754

3,034

Networth
12,000 10,000 8,000 (` cr) 6,000 4,000 2,000 41 FY 92 FY 97 FY 03 FY 07 FY 11 465 1,056 3,233
10,000 5,000 (` cr)

Market Capitalization
10,963
35,000 30,580 30,000 25,000 20,000 15,644 15,000

34 FY 92

196 FY 97

936
5

FY 03

FY 07

FY 11

Financial Summary

Highlights Consolidated FY11

PAT for FY11 up 20% to ` 1,567 cr, 5 years CAGR of 36% Advances up 39% to ` 41,242 cr NIM at 5.6% Capital Adequacy 19.5% Net NPA 0.43%* Asset managed / advised at ` 47,850 cr

* Excl acquired stressed assets

Consolidated PAT
` cr Kotak Mahindra Bank Kotak Mahindra Prime Kotak Mahindra Investments Kotak Securities Kotak Mahindra Capital Company Kotak Mahindra Old Mutual Life Insurance Kotak Mahindra AMC & Trustee Co International subsidiaries Kotak Investment Advisors Total Minority Interest, Equity Affiliates, others Consolidated PAT FY07 141 57 27 256 68 (58) 12 35 538 538 FY08 294 101 43 409 115 (72) 8 64 13 975 16 991 FY09 276 157 14 107 13 14 16 24 48 669 (17) 652 FY10 561 166 34 260 24 69 73 80 40 1,307 1,307 FY11 818 318 24 182 52 101 17 51 33 1,596 (29) 1,567

Consolidated Profit Mix

PBT Mix

` cr

773

1,424

1,033

1,883

2,274

11%

10%

13% 2% 18%

14% 4% 23%

6% 15%

4%

59%

53%

67% 37% 43%

75% 59%

FY07 -7% Financing

FY08 -6% Capital Market

FY09 Insurance

FY10

FY11 Asset Managem ent

Consolidated PAT - Quarterly

` cr Kotak Mahindra Bank Kotak Mahindra Prime Kotak Mahindra Investments Kotak Securities Kotak Mahindra Capital Company Kotak Mahindra Old Mutual Life Insurance Kotak Mahindra AMC & Trustee Company International subsidiaries Kotak Investment Advisors Total Minority Interest, Equity Affiliates, others Consolidated PAT Q4FY10 203 58 7 51 13 44 15 14 7 412 7 419 Q3FY11 188 94 3 47 8 24 7 8 5 383 0.5 384 Q4FY11 249 87 6 36 30 71 3 15 6 503 (12) 491

10

Consolidated - Ratios
FY07 Advances (` cr) Total Assets (` cr) AUM (` cr) NIM Book value per share (`) Group CAR Return on average Networth Net NPA%* 15,573 28,631 23,570 5.2% 49.6 15.6% 19.6% 0.17% FY08 21,985 40,597 36,507 5.6% 84.5 20.2% 22.3% 0.33% FY09 22,498 40,234 33,909 6.1% 94.3 22.8% 10.5% 1.18% FY10 29,724 55,115 45,224 6.1% 113.6 19.3% 18.2% 1.14% FY11 41,242 73,681 47,850 5.6% 148.8 19.5% 16.4% 0.43%

* excl acquired stressed assets

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Standalone Bank Highlights FY11

PAT for FY11 up 46% to ` 818 cr; 5 years CAGR of 47% NII up 21% to ` 2,245 cr Capital Adequacy 19.9% ; Tier I 18.0% Deposits up 23% at ` 29,261 cr; CASA at 30% Advances up 41% to ` 29,329 cr
Net NPA 0.5% * Restructured assets ` 60 cr Provision Coverage 70%

* (excl stressed assets)

12

Financial results Bank Standalone

` cr Net Interest Income Other Income Net Total Income Employee Cost Other Operating Expenses Operating Expenditure Operating Profit Provisions & Contingencies PBT PAT Q4FY10 526 252 778 174 168 342 436 128 308 203 Q4FY11 622 191 813 218 227 445 368 (7) 375 249 FY10 1,858 628 2,486 556 633 1,189 1,297 486 811 561 FY11 2,245 633 2,878 751 802 1.553 1,325 137 1,188 818

13

Standalone - Ratios
FY07 Deposits (` cr) Advances (` cr) Total Assets (` cr) CAR % Tier I Net NPA (%) * RoA (%) 11,000 10,924 19,915 13.5% 8.8% 0.18% 0.94% FY08 16,424 15,552 28,312 18.7% 14.5% 0.38% 1.10% FY09 15,644 16,625 28,712 20.0% 16.1% 1.26% 1.03% FY10 23,886 20,775 37,436 18.4% 15.4% 1.25% 1.72% FY11 29,261 29,329 50,850 19.9% 18.0% 0.50% 1.77%

*excluding acquired stressed assets portfolio

14

Business Overview

15

Integrated Financial Services

Financing

Life Insurance

Asset Management

Capital Markets

16

Financing Business
NII & NIM
3,500 3,000 2,500 (` cr) 2,000 4.0% 1,500 1,000 500 FY07 FY08 NII FY09 FY10 NIM FY11 0.0% 2.0% 8.0%

PAT
1,200 1,000 800 (` cr) 600 400 200 FY07 FY08 FY09 FY10 FY11

CAGR 40%
6.0%

CAGR 47%

Net NPA
1.4% 1.2%

Advances
50,000 40,000 (` cr) 30,000 20,000 10,000 FY07 FY08 FY09 FY10 FY11

CAGR 32%

1.0% 0.8% 0.6% 0.4% 0.2% 0.0% FY 07 FY 08 FY 09 FY 10 FY 11

*NNPA % is excluding acquired stressed assets portfolio

Consumer

Commercial

Corporate17

Consumer Banking - Advances

` cr
7,357
10,600

10,876

13,074

17,170

1% 27% 29%

1% 22%

4% 10%

4% 8%

3%

Focus on SENP Focus on SENP Continue Focus Continue Focus

on Auto Sector on Auto Sector Mortgage - Mortgage healthy growth healthy growth over the years; over the years; present in 13 present in 13 cities cities

36% 24% 25% 30%

41%

Unsecured loans Unsecured loans

48% 45% 44% 50% 48%

degrown in last degrown in last 33years; see years; see opportunities in opportunities in select segments select segments

FY07 Car

FY08

FY09

FY10 PL

FY11 Others
18

Mortgage

Consumer Banking - Liabilities

Number of Branches and ATMs
350 300 250 387 Branches 200 150 135 100 50 105 0 Mar 07 Mar 08 Mar 09 Mar 10 Mar 11 178 217 249 200 100 0 313 400 321 300 492 710 800 700 600 500 ATMs

500 Branches in CY13 500 Branches in CY13 Increased cross sell of Increased cross sell of

asset products asset products Added close to 500,000 Added close to 500,000 customer accounts customer accounts segment segment

Focus on affluent Focus on affluent

2,248

4,251

5,087

7,463

8,800

CASA Deposits * ` cr CASA Deposits * ` cr CASA %* CASA %*

22

27

32

31

30

Close to 22 Lac customer accounts Close to 22 Lac customer accounts

* (excl IPO float)
19

Commercial Banking
` cr
3,900 6,992 7,028 9,168 12,988

6% 17%

14%

8% 18% 34%

14%

Renewed growth Renewed growth

in CE/CV in CE/CV Consistent Consistent growth in Agri growth in Agri target met target met consistently consistently

24%

33% 34%

Priority Sector Priority Sector Limited Limited

77% 62% 58% 48% 53%

exposure to MFI, exposure to MFI, 0.2% of 0.2% of advances advances

FY07

FY08 CE/CV

FY09 Agri

FY10 Capital Market

FY11

20

Wholesale Banking
Added > 250 Customers in FY11 Continued focus on Trade
Finance and Transaction Banking Import/Export financing Foreign Exchange Cash Management
7,482 6,500 4,316 4,393 4,594 3,092 1,239 400 FY07 FY08 FY09 FY10 FY11 1,819

Funded and Non Funded ` cr

11,084

Continue strong presence in debt

capital markets

Funded

Non Funded

Deepen franchise of large

corporate & widen middle markets

Leverage on Group relationships

21

Life Insurance
Gross Premium ` cr

972

1,691

2,343

2,868

2,976

Capital efficiency Capital efficiency

among the highest in among the highest in the industry the industry

1,534 1,000 585 357

13 2 32 69 14 8 19 221 18 8

1,722

288 280

AUM ~~``8,300 cr AUM 8,300 cr Solvency ratio 2.7 Solvency ratio 2.7 FY12 another year of FY12 another year of
consolidation consolidation Conservatism has Conservatism has helped so far helped so far

499 4 7 FY07

943

1,176

925

685 FY11 Renew al

FY08 Single

FY09 Group

FY10

Individual Regular

22

Life Insurance
Sum Assured
120 100 (` cr '000) 80 60 40 20 FY 07 FY 08 FY 09 FY10 FY11

PAT
120 80 (` Cr) 40 (40) (80) FY 07 FY 08 FY 09 FY10 FY11

Number of Branches
250 200 (No.) 150 100 50 0 FY 07 FY 08 FY 09 FY10 FY11
0 FY 07 400 (` Cr) 600

Capital

200

FY 08

FY 09

FY10

FY11

23

Broking
Market ADV ` cr (000) ADV ` cr (KS)
5,300

140 120 100 80 60 40 20 4 26 12 FY07 Cash 20 FY08 7 45 16 29 16 FY09 Future 38 23 FY10 Option 39 19 FY11
FY07 FY08 FY09 FY10 3,700 3,900 3,300

4,600

78 35

FY11

Branches & Franchisee

1,413

Market volume shift to Options Market volume shift to Options 66lac secondary market customers lac secondary market customers

1,113 813 877 783

FY07

FY08

FY09

FY10

FY11

24

Investment Banking
#1 Book Running Lead Manager in Equity Offerings (IPOs + FPOs') between FY07 FY11
KOTAK I-SEC ENAM CITIGROUP BAML (DSPML) 0 200 400 1,032 55 deals 797 44 deals 17 deals 780 57 deals 695 21 deals 622 22 deals 600 (` bn) 800 1,000 1,200

No 11in lead managing equity No in lead managing equity offerings (IPO+FPO) for cumulative offerings (IPO+FPO) for cumulative five years and for FY11 five years and for FY11

Kotak has led 17 of the 20 largest Indian Offerings from FY00 till FY11
160.0 140.0 120.0 (` bn) 100.0 80.0 60.0 40.0 20.0 ICICI BANK - FPO NTPC LTD. - FPO DLF INDIA - IPO ICICI BANK - FPO ADANI ENTERP. QIP ICICI BANK - FPO POWER GRID FPO RELIANCE POWER - IPO ONGC - FPO NMDC - FPO NHPC - IPO NTPC - IPO CAIRN INDIA IPO GMR - QIP REC - FPO TATA MOTORS QIP of DVR COAL INDIA IPO TCS - IPO HDFC - QIP (NCD+Warrants) TATA STEEL FPO 115.6 105.4 100.4 99.3 91.9 152.0 Kotak Lead Managed Offerings

84.8

74.4 60.4 57.9^ 57.5 54.2^ 53.7 43.0 40.0 39.7 35.3 34.8 33.5 32.5

Source: PRIME Database; ^ Kotak was Co-manager to Cairn & TCS IPOs

25

Investment Banking
Client
Coal India Limited

Transaction Initial Public Offering Lead Manager to Debt Issue

Size (USD mn) 3,434 1,444 870 766 551 518 507 480 465 300 200 273 174 115
26

Adani Enterprises Limited

Qualified Institutional Placement Follow-on Public Offering Buyback of equity shares Indian Depository Receipts Initial Public Offering

Ispat Industries Promoter Group

Exclusive Advisor to ISPAT Industries for Preferential Issue to JSW Steel Open offer for Religare Enterprises Limited Open Offer for Patni Computer Systems consequent to acquisition of controlling stake Private Placement of convertible shares to Temasek Holdings, the investment arm of Government of Singapore Lead Manager to Debt Issue Manager to delisting offer by promoter group of Nirma Limited Qualified Institutional Placement

Asset Management
Segment Summary

` 47,850 cr of assets managed / advised through mutual funds, insurance, portfolio management, alternate assets & offshore funds
FY10 ` 45,224 cr
Insurance 14% PMS 5% Domestic MF Debt 49%

FY11 ` 47,850 cr
Insurance 17% PMS 4% Domestic MF Debt 49%

Offshore Funds 15%

Offshore Funds 18%

Alternate Asset 11%

Domestic MF Equity 10%

Alternate Asset 10%

Domestic MF Equity 9%

27

Mutual Fund
Asset Under Management
Industry - ` cr (000)
505 417 326 614 592

Mar 07

Mar 08

Mar 09

Mar 10

Mar 11

Kotak MF - ` cr
24,071 16,136 12,125 15,979 24,455

Close to 10 lac folios Close to 10 lac folios 84 branches 84 branches Regulatory challenges Regulatory challenges

Mar 07

Mar 08

Mar 09

Mar 10

Mar 11

AUM is closing as on 31st March

28

Alternate Assets
Realty Funds

KIREF - -I; first realty fund in India to KIREF I; first realty fund in India to
return 100% of capital to investors return 100% of capital to investors

Corpus managed - -``3,146 cr Corpus managed 3,146 cr 40 Investments; 44full exits, 99partial exits 40 Investments; full exits, partial exits

Private Equity Funds

Corpus managed - -``2,208 cr Corpus managed 2,208 cr 30 Investments; 33full exits, 11partial exits 30 Investments; full exits, partial exits

Propose to launch $300 mn Propose to launch $300 mn

Infrastructure fund with SMBC and Infrastructure fund with SMBC and Brookfield Brookfield

29

Bank Awards & Recognition

Award for Excellence

Awarded Hewitt Best Employers in India 2011 & 2009, only Bank to be in top 25 Best companies to work for 2010 & 2009 by Great places to work Institute India Ranked No. 2 in India - companies with Best Corporate Governance Practices - IR Global Rankings 2010 Ranked no. 1 in eight categories including range of investment products/ advisory services Euromoney The Ingenious 100 Award by IDG Indias CIO Magazine for Storage Virtualization The ingenious 100 Award for ingenious technology solutions Best Local Cash Management Bank Asiamoney 2010 Best Private Bank by Finance Asia Country
30

Awards & Recognition

Lipper Fund Award 2010 for Kotak Bond Regular Best Fund over 10 years Bond Indian Rupee Best Debt Fund House of the year 2009 Outlook Money NDTV Profit Awards 2009 & 2010

Best Broker in Best Broker in India 2010 India 2010 Best Local Best Local Brokerage Brokerage 2010 2010

2010: Best Equity House & Best Investment Bank in India 2009: Best Investment Bank in India 2008: Best Equity House & Best Investment Bank in India 2007: Best Investment Bank in India 2006: Best Investment Bank in India

2010: Best Domestic Equity House 2009: Best Domestic Equity House 2008: Best Domestic Equity House 2004: Best Equity House in India

Award for Excellence

2010: Best Domestic Investment Bank 2009: Best Domestic Investment Bank 2008: Best Domestic In vestment Bank 2007: Best Domestic Investment Bank 2006: Best Domestic Investment Bank & Best Equity House in India

2010: Best Investment Bank in India 2009: Best Investment Bank in India 2008: Best Investment Bank in India 2005: Best Investment Bank in India 2004: Best Investment Bank in India

2010: Bank for Equity Finance in India Best (Real Estate) 2005: Best Equity House in India 2004: Best Equity House in India

31

25 yrs.. A snapshot
PAT
1,800 1,600 1,400 1,200 (` cr) 1,000 800 600 400 200 FY 92 FY 97 FY 03 FY 07 FY 11 22 36 73 538 1,567

Networth
12,000 10,000 8,000 (` cr) 6,000 4,000 2,000 41 FY 92 FY 97 FY 03 FY 07 FY 11 465 1,056 3,233 11,004

Market Capitalization
35,000 30,000 25,000 (` cr) 20,000 15,000 10,000 5,000 34 FY 92 FY 97 FY 03 FY 07 FY 11 196 936 7,818 30,580

` 100,000 invested at startup (1985) ` 100,000 invested at startup (1985) now worth ` 338 cr now worth ` 338 cr ` 100,000 invested at IPO price (1992) ` 100,000 invested at IPO price (1992) now worth ` 5 cr now worth ` 5 cr
with subscription to subsequent rights issuances
32

33

Disclaimer
This presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Kotak Mahindra Bank Limited (the Bank) and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. No offering of securities of the Bank will be made except by means of a statutory offering document containing detailed information about the Bank. This presentation is not a complete description of the Bank. Certain statements in the presentation contain words or phrases that are forward looking statements. All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward looking statement. Any opinion, estimate or projection herein constitutes a judgment as of the date of this presentation, and there can be no assurance that future results or events will be consistent with any such opinion, estimate or projection. The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Bank. We do not have any obligation to, and do not intend to, update or otherwise revise any statements reflecting circumstances arising after the date of this presentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition. All information contained in this presentation has been prepared solely by the Bank. No information contained herein has been independently verified by anyone else. No representation or warranty (express or implied) of any nature is made nor is any responsibility or liability of any kind accepted with respect to the truthfulness, completeness or accuracy of any information, projection, representation or warranty (expressed or implied) or omissions in this presentation. Neither the Bank nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from any use or reliance on this presentation or its contents or otherwise arising in connection therewith. This presentation may not be used, reproduced, copied, distributed, shared, or disseminated in any other manner. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about, and observe, any such restrictions.

34

KOTAK MAHINDRA BANK LIMITED (CONSOLIDATED) Registered Office: 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai 400 021 AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2011 ` in lakhs Sr No Particulars Quarter Ended Mar-11 (Unaudited) 172,270.95 134,559.16 35,734.99 733.64 1,243.16 130,507.81 (20,555.88) 106,299.32 44,764.37 302,778.76 77,436.21 154,886.51 40,051.85 71,768.03 43,066.63 232,322.72 70,456.04 (857.12) 71,313.16 20,766.97 50,546.19 50,546.19 1,851.59 443.18 49,137.78 36,843.58 Mar-10 (Unaudited) 124,775.49 95,873.27 27,371.23 143.56 1,387.43 169,755.76 3,519.27 113,738.23 52,498.26 294,531.25 46,385.13 174,048.66 35,992.43 97,304.60 40,751.63 220,433.79 74,097.46 12,177.11 61,920.35 19,332.72 42,587.63 42,587.63 1,154.96 422.43 41,855.10 34,814.15 Year Ended Mar-11 (Audited) 614,143.52 471,084.83 135,518.78 2,309.06 5,230.85 482,230.33 28,510.11 293,990.87 159,729.35 1,096,373.85 263,454.92 593,419.05 152,234.49 280,861.43 160,323.13 856,873.97 239,499.88 14,759.97 224,739.91 67,816.41 156,923.50 156,923.50 2,635.26 2,386.23 156,674.47 36,843.58 1,059,450.54 10,721.12 Mar-10 (Audited) 460,116.01 352,637.01 101,854.83 690.68 4,933.49 538,473.85 80,384.77 284,933.73 173,155.35 998,589.86 177,285.75 579,944.86 126,095.47 311,893.65 141,955.74 757,230.61 241,359.25 51,072.82 190,286.43 57,550.44 132,735.99 132,735.99 1,799.84 (236.10) 130,700.05 34,814.15 756,280.26 8,085.86

3 4 5

6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

Interest earned (a+b+c+d) (a) Interest/discount on advances/bills (b) Income on investments (c) Interest on balances with RBI & other banks (d) Others Other income (a+b+ c) (a) Profit/(Loss) on sale of investments including revaluation (insurance business) (b) Premium on Insurance Business (c) Other income (see Notes 1 and 5) Total income (1+2) Interest expended Operating expenses (a+b+c) (a) Payments to and provisions for employees (b) Policy holders reserves, surrender expense and claims (c) Other operating expenses (see Note 2 and 5) Total expenditure (4+5) (excluding provisions and contingencies) Operating Profit before provisions and contingencies (3-6) Provisions (other than tax) and contingencies (see Note 3) Exceptional items Profit from ordinary activities before tax (78-9) Tax expense Profit from Ordinary activities after tax before Minority Interest (10 11) Extraordinary items (net of tax expense) Profit from ordinary activities after tax before Minority Interest (12 13) Less: Share of Minority Interest Add: Share in Profit of associates Profit after tax (14-15+16) Paid Up Equity Capital - (Face Value of ` 5 per share) (See Note 6) Group Reserves (excluding Minority Interest) Minority Interest Analytical Ratios (i) Earnings per Share (before and after extraordinary items) (See Note 6) (a) Basic (not annualized) ` (b) Diluted (not annualized) ` (ii) NPA Ratios (a) Gross NPA (b) Net NPA (c) % of Gross NPA/ Gross Advances (d) % of Net NPA/ Net Advances (e) % of Gross NPA/ Gross Advances (excluding NPAs acquired from other banks/ NBFCs) (f) % of Net NPA/ Net Advances (excluding NPAs acquired from other banks/ NBFCs) (iii) Return on Assets (average) (not annualised) (iv) Return on Assets (average) (not annualised) (excluding policyholder fund)

6.67 6.63 71,198.46 24,267.10 1.71 0.59 1.13 0.43 0.68 0.87

6.02 5.95 91,667.25 44,083.72 3.04 1.48 2.16 1.14 0.78 1.02

21.73 21.60 71,198.46 24,267.10 1.71 0.59 1.13 0.43 2.39 3.00

18.84 18.64 91,667.25 44,083.72 3.04 1.48 2.16 1.14 2.73 3.34

NOTES: 1. Details of other income forming part of the Consolidated unaudited results are as follows: ` lakhs Particulars Quarter Ended Mar-11 (Unaudited) 33,396.47 4,659.01 6,708.89 44,764.37 Mar-10 (Unaudited) 31,992.74 5,463.29 15,042.23 52,498.26 Year Ended Mar-11 (Audited) 128,317.19 16,424.25 14,987.91 159,729.35 Mar-10 (Audited) 128,366.51 19,710.21 25,078.63 173,155.35

Commission, fees, exchange and brokerage Profit on sale of investments (other than insurance business) Others Total Other income

2.

Details of other expenditure forming part of Consolidated unaudited results are as follows: Quarter Ended Mar-11 Mar-10 (Unaudited) (Unaudited) 5,784.38 6,967.44 3,925.87 3,516.13 5,555.13 4,638.98 27,801.25 43,066.63 25,629.08 40,751.63 ` lakhs Year Ended Mar-11 March-10 (Audited) (Audited) 22,538.71 22,022.24 15,234.62 14,291.97 21,585.55 22,547.57 100,964.25 160,323.13 83,093.96 141,955.74

Particulars

Brokerage Depreciation Rent, taxes and lighting Others Total Other operating expenses

3. 4

Provisions and contingencies are net of recoveries made against accounts which have been written off as bad in the previous year/s. The consolidated financial results are prepared in accordance with Accounting Standard 21, Consolidated Financial Statements and AS - 23 Accounting for investment in associates in consolidated financial statement issued by The Institute of Chartered Accountants of India. Other income in the consolidated results for the reporting periods is net of sub-brokerage paid in the broking subsidiary amounting to ` 1,401.03 lakhs for the quarter ended 31st March, 2011 and year ended 31st March, 2011 ` 6,553.38 lakhs (for the quarter ended 31st March, 2010 ` 1,619.34 lakhs, year ended 31st March, 2010 ` 6,740.19 lakhs). Each equity share of the Bank having face value of ` 10 fully paid-up was sub-divided into two equity shares of the face value of ` 5 each fully paid-up in September 2010. Accordingly, the number of shares in the previous periods has been restated to make them comparable. In accordance with Accounting Standard 20 Earnings Per Share, the Bank has given effect to the sub-division of shares in computing the earnings per share for the previous periods. Pursuant to Reserve Bank of Indias circular RBI/2009-2010/356 IDMD/4135/11.08.43/2009-10 dated March 23, 2010 on Uniform Accounting for Repo/Reverse Repo Transactions, effective April 1, 2010, securities sold under agreements to repurchase (Repos) and securities purchased under agreements to resell (Reverse Repos) are treated and disclosed as collateralized borrowing and lending transactions respectively. For previous period, these transactions were recorded and disclosed as sale and purchase of investments respectively in line with then applicable regulatory requirements. There has been no other change in significant accounting policies during the year. Figures for the previous periods/ year have been regrouped wherever necessary to conform to current periods presentation.

KOTAK MAHINDRA BANK LIMITED (STANDALONE) Registered Office: 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai 400 021 ` in lakhs Year Ended Mar-11 Mar-10 (Audited) (Audited) 430,355.82 325,562.49 332,815.43 95,717.85 1,718.84 103.70 63,303.73 493,659.55 205,848.54 155,332.02 75,114.84 80,217.18 361,180.56 132,478.99 13,708.81 118,770.18 36,951.97 81,818.21 81,818.21 36,843.58 642,803.62 19.92 18.35 19.92 252,691.10 72,685.73 105.70 79.96 62,824.00 388,386.49 139,747.55 118,939.34 55,579.04 63,360.30 258,686.89 129,699.60 48,589.24 81,110.36 24,999.79 56,110.57 56,110.57 34,814.15 413,697.35 18.35

Sr No 1

Particulars

Interest earned (a+b+c+d) (a) Interest/ discount on advances/ bills (b) Income on investments (c) Interest on balances with RBI & banks (d) Others other

Quarter Ended Mar-11 Mar-10 (Unaudited) (Unaudited) 123,263.20 88,075.61 97,954.75 24,831.38 434.66 42.41 19,129.77 142,392.97 61,106.47 44,489.43 21,829.71 22,659.72 105,595.90 36,797.07 (717.29) 37,514.36 12,644.23 24,870.13 24,870.13 36,843.58 68,138.34 19,846.56 52.40 38.31 25,150.26 113,225.87 35,471.13 34,194.51 17,399.12 16,795.39 69,665.64 43,560.23 12,757.25 30,802.98 10,552.86 20,250.12 20,250.12 34,814.15

2 3 4 5

Other Income Total income (1+2) Interest expended Operating expenses (a+b) (a) Payments to and Provisions for employees (b) Other Operating expenses

6 7 8 9 10 11 12 13 14 15 16 17

Total expenditure (4+5) Operating Profit (3-6) Other provisions & contingencies (Refer Note 1) Exceptional items Profit / Loss from Ordinary Activities before tax (7-8-9) Provision for taxes Net Profit / Loss from Ordinary Activities after tax (10-11) Extraordinary items (net of tax expense) Net Profit / Loss for the Period (12-13) Paid Up Equity Capital - (Face Value ` 5 per share) (Refer Note 2) Reserves excluding revaluation reserves Analytical Ratios (i) % of shares held by Govt. of India (ii) % Capital adequacy ratio ( Basel II ) (iii) Earnings Per Share (EPS) for the period Not Annualized - Basic ` - Diluted ` (iv) NPA Ratios ` a) Gross Non-performing assets b) Net Non-performing assets c) % of Gross NPA to Gross Advances d) % of Net NPA to net Advances e) % of Gross NPA to Gross Advances (excluding NPAs acquired from other banks and NBFCs) f) % of Net NPA to net Advances (excluding NPAs acquired from other banks and NBFCs) g) Return on Assets %(Average) Not Annualized

3.38 3.36 60,349.33 21,115.94 2.03 0.72 1.23 0.50 0.50

2.91 2.88 76,733.92 36,024.57 3.62 1.73 2.38 1.25 0.58

11.35 11.28 60,349.33 21,115.94 2.03 0.72 1.23 0.50 1.77

8.09 8.00 76,733.92 36,024.57 3.62 1.73 2.38 1.25 1.72

18

Public Shareholding (i) No. of shares (ii) % of shareholding 401,081,236 54.43% 360,477,666 51.77% 401,081,236 54.43% 360,477,666 51.77%

Sr No 19

Particulars

Quarter Ended Mar-11 Mar-10 (Unaudited) (Unaudited)

Year Ended Mar-11 Mar-10 (Audited) (Audited)

Promoters and promoter group Shareholding a) Pledged/Encumbered - Number of shares - Percentage of shares (as a % of the total shareholding of promoter and promoter group) - Percentage of shares (as a% of the total share capital of the company) b) Non-encumbered - Number of Shares - Percentage of shares (as a% of the total shareholding of promoter and promoter group) - Percentage of shares (as a % of the total share capital of the company)

100,000 0.03% 0.01%

100,000 0.03%

100,000 0.03%

100,000 0.03%

0.01%

0.01%

0.01%

335,690,268 99.97% 45.56%

335,705,288 99.97%

335,690,268 99.97% 45.56%

335,705,288 99.97% 48.21%

48.21%

Segment Results The reportable segments of the bank are as under: Segment Treasury and BMU Retail Banking Corporate/Wholesale Banking Principal activity Money market, forex market, derivatives, investments and primary dealership of government securities and Balance Sheet Management Unit (BMU) responsible for Asset Liability Management. Includes lending, deposit taking and other services/ products including credit cards. Wholesale borrowings and lendings and other related services to the corporate sector which are not included under retail banking ` in lakhs Year ended Mar- 11 Mar- 10 (Audited) (Audited) 146,386.13 160,386.97 311,286.78 618,059.88 124,426.11 25.78 493,659.55 30,483.36 54,389.11 33,871.93 118,744.40 25.78 118,770.18 112,623.27 115,638.57 255,804.39 484,066.23 95,688.36 8.62 388,386.49 36,745.57 38,546.09 6,105.97 81,397.63 (287.27) 81,110.36

Quarter Ended Mar-11 Mar-10 (Unaudited) (Unaudited) 1 Segment Revenue a. Treasury and BMU b. Corporate/ Wholesale Banking c. Retail Banking Sub-total Less : Inter-segmental revenue Add : Unallocated Income Total Segment Results a. Treasury and BMU b. Corporate/ Wholesale Banking c. Retail Banking Sub-total Add : Unallocated Income /(expense) Total Profit Before Tax Capital employed (Segmental Assets less Segmental Liabilities) a. Treasury and BMU b. Corporate/ Wholesale Banking c. Retail Banking Sub-total Add: Unallocated Total Capital Employed 41,348.90 49,470.77 90,357.95 181,177.62 38,784.65 142,392.97 10,646.52 16,970.88 9,896.96 37,514.36 37,514.36 30,569.13 42,511.86 63,243.38 136,324.37 23,107.12 8.62 113,225.87 10,195.94 15,747.09 5,147.22 31,090.25 (287.27) 30,802.98

189,618.97 178,330.91 299,226.15 667,176.03 12,471.17 679,647.20

153,434.08 114,222.77 166,780.01 434,436.86 14,074.64 448,511.50

189,618.97 178,330.91 299,226.15 667,176.03 12,471.17 679,647.20

153,434.08 114,222.77 166,780.01 434,436.86 14,074.64 448,511.50

NOTES: 1. Provisions and contingencies are net of recoveries made against accounts which have been written off as bad in the previous period/ year. 2. Each equity share of the Bank having face value of ` 10 fully paid-up was sub-divided into two equity shares of the face value of ` 5 each fully paid-up in September 2010. Accordingly, the number of shares in the previous periods has been restated to make them comparable. In accordance with Accounting Standard 20 Earnings per Share, the Bank has given effect to the sub-division of shares in computing the earnings per share for the previous periods.

3.

During the quarter, the Bank has not granted any options under employee stock option scheme. Stock options aggregating to 570,174 (Post Split) were exercised during the quarter and 13,420,010 (Post Split) stock options were outstanding with employees of the Bank and its subsidiaries as at 31st March 2011. The Bank had one outstanding shareholder complaint as at 31st December 2010, which was subsequently resolved. During the quarter the Bank received 12 complaints from shareholders out of which two complaints were pending as at 31st March 2011, which has subsequently been resolved. Figures for the previous period/year have been regrouped wherever necessary to conform to current periods presentation. Pursuant to Reserve Bank of Indias circular RBI/2009-2010/356 IDMD/4135/11.08.43/2009-10 dated March 23, 2010 on Uniform Accounting for Repo/Reverse Repo Transactions, effective April 1, 2010, securities sold under agreements to repurchase (Repos) and securities purchased under agreements to resell (Reverse Repos) are treated and disclosed as collateralized borrowing and lending transactions respectively. For previous period, these transactions were recorded and disclosed as sale and purchase of investments respectively in line with then applicable regulatory requirements. There has been no other change in significant accounting policies during the year. The Bank has declared a dividend of ` 0.50 per share having face value ` 5 for the year ended 31st March 2011 (Previous Year ` 0.85 per share having face value ` 10). The Bank is obliged to pay dividend to those shareholders whose names are appearing in the register of members as on the book closure date. The dividend will be paid after the approval of shareholders at the Annual General Meeting. The above results were taken on record at the Audit Committee meeting and at the meeting of the Board of Directors held on 5th May 2011. The Summarized Balance Sheet of the Bank (Standalone) is given below: Summarized Balance Sheet CAPITAL AND LIABILITIES Capital Reserves and Surplus Employees Stock Options (Grants) Outstanding Deposits Borrowings Other Liabilities and Provisions TOTAL ASSETS Cash and balances with Reserve Bank Of India Balances with Banks and Money at Call and Short Notice Investments Advances Fixed Assets Other Assets TOTAL 210,772.42 36,326.07 1,712,143.95 2,932,930.67 42,560.73 150,332.74 5,085,066.58 208,567.26 21,459.15 1,251,266.25 2,077,505.41 42,764.92 142,068.66 3,743,631.65 36,843.58 642,803.62 3,691.72 2,926,096.86 1,172,394.84 303,235.96 5,085,066.58 34,814.15 413,697.35 5,480.17 2,388,646.71 614,051.32 286,941.95 3,743,631.65 As at March 2011 ` in lakhs As at March 2010

4.

5. 6.

7.

8.

9.

31st

31st

By order of the Board of Directors For Kotak Mahindra Bank Limited

Mumbai, 5th May, 2011

Dipak Gupta Executive Director