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CORPORATE PRESENTATIONNovember 2017

D I S C L A I M E R

This Presentation has been prepared by Just Dial Limited (“Just Dial”) for investors, shareholders, analysts and otherrelevant stakeholders, solely for informational purposes. The information set out in this Presentation, includingbusiness overview, traffic related numbers, products related information, historical financial performance and anyforecasts should not be considered as advice or a recommendation to investors or potential investors in relation toholding, purchasing or selling securities or other financial products. Before acting on any information, you shouldconsider the appropriateness of the information having regard to these matters, any relevant offer document and inparticular, you should seek independent financial advice.

This presentation may contain forecasts/ forward looking statements based on facts, expectations, and/or past figuresrelating to the business, financial performance and results of the Company. As with all forward-looking statements,forecasts are connected with known and unknown risks, uncertainties and other factors that may cause the actualresults to deviate significantly from the forecast. Readers are cautioned not to place undue reliance on these forwardlooking statements. Forecasts prepared by the third parties, or data or evaluations used by third parties andmentioned in this communication, may be inappropriate, incomplete, or falsified. Neither the Company or any of itssubsidiaries or any of its Directors, officers or employees thereof, provide any assurance that the assumptionsunderlying such forward-looking statements are fully free from errors nor do any of them accept any responsibility forthe future accuracy of the opinions expressed in the Presentation or the actual occurrence of the forecasteddevelopments. Neither the Company nor its directors or officers assumes any obligation to update any forward -looking statements or to confirm these forward-looking statements to the Company’s actual results.

The contents of this presentation are confidential, and they must not be copied, distributed, disseminated, publishedor reproduced, in whole or in part, or disclosed by recipients directly or indirectly to any other person. Just Dial makesno representation or warranty as to the accuracy or completeness of this information and shall not have any liabilityfor any representations (expressed or implied) regarding information contained in, or for any omissions from, thisinformation or any other written or oral communications transmitted to the recipient in the course of its evaluation ofthe Company.

Any information provided in this presentation is subject to change without notice.

Q2 FY18 means the period Jul 1, 2017 to Sep 30, 2017FY18 or FY 17-18 or FY 2018 means the Financial Year starting Apr 1, 2017 and ending Mar 31, 2018

B U S I N E S S O V E R V I E W

C O M P A N Y O V E R V I E W

Figures as on Sep 30, 2017

K E Y S T R E N G T H S

^ Unique visitors are aggregated across various mediums – Voice, Desktop/ PC, Mobile; these may not necessarily be mutually exclusive

N AT I O N W I D EP R E S E N C E

Nationwide coverage, branches in 11 cities across India

Corporate Headquarters in Mumbai, Technology operations and R&D division in Bengaluru

Chandigarh

Delhi NCR (Noida)

Jaipur

Ahmedabad

Mumbai

Bengaluru

Coimbatore

Chennai

HyderabadPune

Kolkata

3,951 employees in tele-sales, 3,546 feet-on-street sales force

On-the-ground presence in 250+ cities pan India, covering 11,000+ pin codes

TrafficShare

Q2 FY18

105 Million^

66%M O B I L EMobile site & Apps

25%D E S K T O P / P Cwww.justdial.com

9%V O I C E88888-88888

P L AT F O R M S

^ Unique visitors are aggregated across various mediums – Voice, Desktop/ PC, Mobile; these may not necessarily be mutually exclusive

M O B I L E

Android, iOS & Windows Apps

Predictive Auto-Suggest

Company, Category, Product Search

Map View of Category Search

Location Detection

Voice Search

App Notifications

JD Pay

JD Social

Maps & directions

Location-based search service

Ratings & Reviews

Friends’ Ratings

Favorites

Search Plus

W E B S I T E

Predictive Auto-Suggest

Company, Category, Product Search

Location Detection

Maps & directions

Operating hours

Business logos

Pictures & videos

Ratings & reviews

Friends’ Ratings

Favorites

Search Plus

Popular Category Searches

V O I C E

Operator-assisted Hotline Number

One number across India

24 Hours a day x 7 Days a week

Multi-lingual support

Zero-ring Pickup

Personalized Greeting

Multiple queries in one call

Instant Email & SMS

88888-88888

LISTING OWN WEBSITE PAYMENTS RATINGS REACH

Every SME should be listed on

Justdial - India's leading local

search engine & online

marketplace

Justdial can create websites for SMEs

instantly, which are mobile-ready, dynamic & have

transactional capabilities

SMEs can accept digital payments

from their customers - via JD

Pay, an online payment

mechanism

Ratings are key to users’ decision-

making, JD Ratings tool helps

SMEs gather more ratings &

reviews

JD Social, a social media platform

with curated content, provides great visibility to businesses rated

by users

V A L U E P R O P O S I T I O N F O R S M E s

U S E R E N G A G E M E N T

76.1 Million Ratings & Reviews

Mobile-verified, unbiased ratings

Friends’ Ratings

10-Point Rating Scale

Facebook & Twitter Shareable

Photo Upload with Review

Ratings shared on JD Social

Ratings distribution over time

Robust Audit Mechanism

T R A F F I C / V I S I T O R S

75.9 71.5 71.3

75.9 76.6 80.5

86.8

100.5 105.0

0

20

40

60

80

100

120

2Q FY16 3Q FY16 4Q FY16 1Q FY17 2Q FY17 3Q FY17 4Q FY17 1Q FY18 2Q FY18

Unique Visitors (Million)

T R A F F I C / V I S I T O R S

14.4% 14.8% 13.6% 13.6% 12.9% 11.7% 10.4% 9.8% 9.1%

36.0% 34.0% 34.8% 35.1% 32.9%30.1% 29.5% 27.8% 25.2%

49.6% 51.1% 51.6% 51.3% 54.2% 58.1% 60.2% 62.4% 65.7%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%


Unique Visitors Split %

Voice Web Mobile

U S E R E N G A G E M E N T

55.3 58.3

60.6 62.6

64.8 67.9

70.5 73.1

76.1

0

10

20

30

40

50

60

70

80


Ratings & Reviews (Million)

D ATA E N R I C H M E N T

15.8 16.1 16.3 16.6 16.9 17.3 17.9

18.8

19.8

0

2

4

6

8

10

12

14

16

18

20


Active Listings - Period End (Million)


5.2 5.6

5.9 6.1 6.2 6.3

6.8

7.8

9.2

0

1

2

3

4

5

6

7

8

9

10


Listings with Geocodes (Million)


14.4

17.0

19.7

22.5

25.4

27.9

31.7

35.6

38.5

0

5

10

15

20

25

30

35

40


Images in Active Listings (Million)

M O B I L E A P P S

7.8

9.1 9.6

10.1 10.7

11.6

13.3

15.4

17.3

0

2

4

6

8

10

12

14

16

18


Cumulative App Downloads (Million)

P R O D U C T O V E R V I E W

J D L I T E A P P Ultra light, Fast, Downloads within seconds

B E Y O N D S E A R C H

Price Comparison

Hail a Cab

Grocery

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Movie Tickets

Flowers

Insurance

Loans

Wallet Options

… and many more.

Price Comparison

Hail a Cab

Grocery

Flight Tickets

Train Tickets

Bus Tickets

Hotel Bookings

Bills & Recharge

Movie Tickets

Flowers

Insurance

Loans

Wallet Options

… and many more.


J D P AY Seamless digital payment solution

N E W P R O D U C T I N I T I AT I V E S

R E V A M P E D J D A P P

J D S O C I A L Wider reach for ratings & reviews, curated content for user engagement

S E A R C H A N A L Y T I C S F O R C L I E N T S

R E A L - T I M E C H AT M E S S E N G E R

F I N A N C I A L O V E R V I E W

Paid Advertisers pay fixed monthly or annualfees to run search-led advertising campaignsfor their businesses on Justdial’s platforms

Various premium (Platinum, Diamond, Gold) &non-premium packages available whichdetermine placements in search results

Multiple factors determine pricing, such asbusiness categories of advertiser, geographiestargeted, type of package

Add-on products such as website banner,framed Justdial Ratings Certificate, ownwebsite, JD Pay, JD Ratings, etc. available

Advertisers can pay annual amount upfront orthrough monthly payment plans, ability tomanage campaign online

Justdial also runs multi-city/ nationalcampaigns for pan-India advertisers

Sales team comprises of 3,951 employees intele-sales, 1,376 feet-on-street (marketing),and 2,170 feet-on-street (JDAs - Just DialAmbassadors) as on Q2 FY18

KEY BUSINESS

ATTRIBUTES

E F F I C I E N T & P R O F I TA B L E B U S I N E S S M O D E L

R E V E N U E

1,639 1,662 1,716

1,763 1,803 1,803 1,817 1,900

1,945

-

250

500

750

1,000

1,250

1,500

1,750

2,000


Operating Revenue (Rs mn)

O P E R AT I N G M A R G I N

Note: Adjusted Op. EBIDTA adjusted for ESOP & one time expenses. Financials up to FY15 are based on Indian GAAP, FY16 onward based on Ind AS.

390 392 374 345

253 298

359 373

429

23.8% 23.6%

21.8%

19.6%

14.0%

16.5%

19.7% 19.6%

22.1%

0%

3%

6%

9%

12%

15%

18%

21%

24%

27%

30%

-

50

100

150

200

250

300

350

400

450

500


Adjusted EBITDA (Rs. Million) & Margin %

C O S T S T R U C T U R E

54.5% 53.6% 57.4% 58.6% 60.3% 59.8% 57.9% 53.7% 53.9%

21.7% 22.8%20.8% 21.9%

25.6% 23.7%22.4% 26.6% 24.0%

4.8% 4.9% 4.9%5.1%

5.7%5.9%

5.7% 5.1%4.8%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%


Expenses as % of Operating Revenue

Employee Costs (excl. ESOP expenses) Other Expenses Depreciation

N E T P R O F I T M A R G I N

405

259

403 389

296 274

254

382 375

24.7%

15.6%

23.5%

22.1%

16.4%15.2%

14.0%

20.1%19.3%

0.0%

2.5%

5.0%

7.5%

10.0%

12.5%

15.0%

17.5%

20.0%

22.5%

25.0%

-

50

100

150

200

250

300

350

400

450

500


Net Profit (Rs. Million) & PAT Margin %

Note: PAT Margin is calculated as Net Profit (Profit After Taxes) as a percentage of Operating Revenue for the quarter

P A I D C A M P A I G N S

349,800 354,900

368,800

389,400

408,800

424,830

435,360 435,980 439,700

250,000

270,000

290,000

310,000

330,000

350,000

370,000

390,000

410,000

430,000

450,000


Active Paid Campaigns - period end

S A L E S F O R C E

3,526 3,212 3,5444,017 4,024 4,049 4,350 4,026 3,951

1,2631,256

1,327

1,373 1,433 1,4401,484

1,427 1,376

1,4101,533

1,911

2,062 2,034 1,801

2,0552,308

2,170

0

1000

2000

3000

4000

5000

6000

7000

8000


Sales Strength – Period End

Tele-Marketing Feet-on-Street (Marketing) Feet-on-Street (JDAs)

JUST DIAL LTD - 2Q FY18 (Quarter ended September 30, 2017) PERFORMANCE SUMMARY

Metric Unit 2Q-FY18 2Q-FY17 YoY change 1Q-FY18 QoQ change

Operating Revenue (₹ million) 1,945 1,803 7.9% 1,900 2.3%

Operating EBITDA (₹ million) 396 224 76.5% 325 21.9%

Operating EBITDA Margin % 20.4% 12.4% 792 bps 17.1% 327 bps

Adjusted EBITDA (excl. ESOP exp.) (₹ million) 429 253 69.6% 373 15.0%

Adjusted EBITDA Margin (excl. ESOP exp.) % 22.1% 14.0% 804 bps 19.6% 242 bps

Other Income, net (₹ million) 200 260 -22.9% 266 -24.7%

Profit Before Taxes (₹ million) 503 382 31.6% 495 1.7%

Net Profit (₹ million) 375 296 26.5% 382 -1.8%

Net Profit Margin % 19.3% 16.4% 284 bps 20.1% -82 bps

Unearned Revenue (period end) (₹ million) 2,774 2,451 13.2% 2,904 -4.5%

Cash & Investments (period end) (₹ million) 10,453 9,123 14.6% 10,862 -3.8%

JUST DIAL LTD - 2Q FY18 (Quarter ended September 30, 2017) PERFORMANCE SUMMARY

Metric Unit 2Q-FY18 2Q-FY17 YoY change 1Q-FY18 QoQ change

Unique Visitors (million) 105.0 76.6 37.1% 100.5 4.5%

- Mobile (million) 69.0 41.5 66.3% 62.7 10.0%

- Desktop/ PC (million) 26.5 25.2 5.1% 28.0 -5.3%

- Voice (million) 9.6 9.9 -3.3% 9.9 -3.1%

- Mobile % share 65.7% 54.2% 1151 bps 62.4% 331 bps

- Desktop/ PC % share 25.2% 32.9% -770 bps 27.8% -260 bps

- Voice % share 9.1% 12.9% -381 bps 9.8% -71 bps

Total Listings (period end) (million) 19.8 16.9 17.0% 18.8 5.4%

Net Listings Addition 1,021,158 342,336 198.3% 906,457 12.7%

Total Images in Listings (period end) (million) 38.5 25.4 51.4% 35.6 8.1%

Listings with Geocodes (period end) (million) 9.2 6.2 48.5% 7.8 18.0%

Ratings & Reviews (million) 76.1 64.8 17.4% 73.1 4.1%

Paid campaigns (period end) 439,700 408,800 7.6% 435,980 0.9%

Total App Downloads (period end) (million) 17.3 10.7 61.3% 15.4 12.4%

App Downloads per day 23,871 8,704 174.2% 26,533 -10.0%

Number of Employees (period end) 10,892 11,799 -7.7% 11,262 -3.3%

Ramani Iyer

B O A R D O F D I R E C T O R S

V S S Mani

V Krishnan

Sanjay Bahadur

B Anand

Malcolm Monteiro

Anita Mani

Pulak Prasad

Independent Non-Independent

Non-Executive Directors

Executive Directors

L E A D E R S H I P T E A M

Name Designation Experience Functional Areas

V S S Mani Chief Executive Officer 29 YearsOverall growth strategy, planning, execution & management

Shreos Roychowdhury Chief Technology Officer 20 Years Technological Innovation and R&D

Abhishek Bansal Chief Financial Officer 8 YearsFinance, Strategy, Accounting, Treasury, Audit, Legal,Compliance & Traffic

Vishal Parikh Chief Product Officer 16 YearsLeads Product, Design & Technology teams, Project Management

Sumeet Vaid Chief Revenue Officer 20 Years Revenue growth & Business development

Rajesh Madhavan Chief People Officer 22 Years Human Resource Functions

Sandeep KanchanChief Product Officer, Payments & Voice

21 Years Heads Payment Products & Voice operations

Jaimin Shah Chief Technology Officer, Omni 17 Years Leads Omni & related products

Ajay Mohan Group Vice President, Sales 21 YearsSales platform management, Strategic alliances, Corporate partnerships & Business expansion

Rakesh Ojha Group Vice President, Sales 22 Years Sales & Expansion (West Region)

Prashant Nagar Vice President, Sales 18 Years Sales & Expansion (Delhi, Just Dial Ambassadors)

Suhail Siddiqui Vice President, Sales 21 Years Sales & Expansion (North & East Region)

Rajiv Nair Vice President, Sales 18 Years Sales & Expansion (South Region)

Shwetank Dixit Head, Database & Content 6 Years Database augmentation, Curation, Content enrichment

S H A R E H O L D I N G P AT T E R N

34.3%

44.5%

11.3%

9.9%

P R O M O T E R S

F O R E I G N I N V E S T O R S

D O M E S T I CI N V E S T O R S

I N D I V I D U A L S

A S O NS E P 3 0 , 2 0 1 7

E n d o f P re s e n t a t i o n

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