Alexandria Real Estate Equities, Inc. Financial Ratios — ARE&M.BO

Profitability (INR)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Return on Common Equity (%)	38.32	87.37	2,151.14	54.67	30.22	24.15	20.11	18.12	22.24	19.31	13.69	17.42	19.27	17.09	30.5
Return on Assets (%)	17.43	18.37	19.58	18.79	18.41	14.64	12.16	11.15	13.92	11.98	8.42	10.19	11.03	9.87	8.28
Return on Capital (%)	33.23	69.29	354.95	49.36	29.09	23.47	19.66	17.86	22	19.03	13.57	17.24	19.04	17.04	28.4
Return on Invested Capital (%)	24.79	26.11	26.31	23.12	22.75	18.26	15.13	14.44	17.63	15.1	10.6	13.49	13.33	10.94	8.13
Gross Margin (%)	30.68	31.38	32.21	32.69	35.45	32.82	30.64	30.1	33.42	32.11	27.8	30.84	31.25	32.44	32.13
EBITDA Margin (%)	12.86	13.55	14.75	13.69	14.92	12.48	10.83	10.38	11.82	11.54	7.48	9.79	10.21	8.49	6.44
Operating Margin (%)	12.86	13.55	14.75	13.69	14.92	12.48	10.83	10.38	11.82	11.54	7.48	9.79	10.21	8.49	6.44
Incremental Operating Margin (%)	14.34	16.28	22.17	9.04	27.64	-3.96	-1.08	6.7	237.12	5.48	-11.52	21.63	13.55	-8.33	-20.76
Pretax Margin (%)	13.48	14.26	15.63	14.48	15.65	13.24	11.82	10.79	12.34	12.24	7.99	9.64	10.73	9.91	8.74
Profit Margin (%)	9.1	9.69	10.7	9.76	10.65	9.02	7.8	7.14	9.7	9.07	5.92	7.07	8.02	7.35	6.48
Net Income to Common Margin (%)	9.1	9.69	10.7	9.76	10.65	9.02	7.8	7.14	9.7	9.07	5.92	7.07	8.02	7.35	6.48
Effective Tax Rate (%)	32.51	32.03	31.53	32.63	31.97	31.86	34.01	33.81	21.4	25.94	25.83	26.67	25.26	25.8	25.78
Dvd Payout Ratio (%)	10.33	11.26	11.71	15.71	32.82	- -	27.27	17.69	50.11	13.2	33.33	7.95	14.62	20.15	21.66
Sustainable Growth Rate (%)	34.36	77.53	1,899.13	46.08	20.3	24.15	14.62	14.92	11.09	16.76	9.13	16.04	16.45	13.65	23.89

Credit (INR)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Total Debt	841	872	857	760	741	725	635	584	839	923	1,259	2,014	1,567	2,608	4,062
ST Debt	56	99	97	18	17	35	51	116	279	303	321	578	556	1,794	3,062
LT Debt	785	773	759	741	725	690	584	468	560	620	938	1,435	1,011	814	999
Total Debt/EBITDA	0.28	0.22	0.17	0.13	0.11	0.11	0.1	0.08	0.1	0.11	0.19	0.2	0.13	0.24	0.46
Net Debt/EBITDA	-0.47	-0.8	-0.41	- -	-0.01	-0.04	0.02	0.01	0.02	-0.08	-0.02	0.02	-0.04	-0.01	0.06
Total Debt/EBIT	0.28	0.22	0.17	0.13	0.11	0.11	0.1	0.08	0.1	0.11	0.19	0.2	0.13	0.24	0.46
Net Debt/EBIT	-0.47	-0.8	-0.41	- -	-0.01	-0.04	0.02	0.01	0.02	-0.08	-0.02	0.02	-0.04	-0.01	0.06
EBITDA to Interest Expense	537.02	33,388.17	168,816	192,221	136.17	120.13	146.3	117.14	74.1	82.14	45.17	35.74	39.11	24.62	19.99
EBITDA-CapEx/Interest Expense	382.92	27,171.5	58,407	39,711.67	33.96	40.61	59.81	29.06	6.86	29.81	-7.89	17.7	10.48	-2.47	-10.13
EBIT to Interest Expense	537.02	33,388.17	168,816	192,221	136.17	120.13	146.3	117.14	74.1	82.14	45.17	35.74	39.11	24.62	19.99
Interest Expense	6	- -	- -	- -	51	55	45	60	109	100	143	283	304	443	445
Common Equity/Total Assets	47.3	0.96	0.86	62.2	59.89	61.26	59.79	63.2	62.04	62.08	61.03	56.5	57.91	57.59	0.16
Long-Term Debt/Equity (%)	9.53	7.29	5.57	4.15	3.43	2.66	1.99	1.4	1.53	1.47	2.06	2.39	1.49	1.1	1.23
Long-Term Debt/Capital (%)	10.85	74.16	73.89	4.75	3.94	3.04	2.29	1.61	1.76	1.68	2.33	3.05	1.89	1.33	23.54
Long-Term Debt/Total Assets (%)	5.81	4.37	3.83	3.1	2.46	1.93	1.4	1.04	1.12	1.07	1.47	1.8	1.13	0.8	0.87
Total Debt/Equity (%)	10.21	8.23	6.29	4.26	3.5	2.79	2.16	1.75	2.3	2.19	2.77	3.35	2.3	3.53	5.01
Total Debt/Capital (%)	11.62	83.62	83.38	4.86	4.03	3.19	2.49	2.01	2.63	2.5	3.13	4.28	2.93	4.26	95.69
Total Debt/Total Assets (%)	6.22	4.92	4.32	3.18	2.51	2.02	1.52	1.3	1.68	1.59	1.97	2.53	1.75	2.56	3.55
Net Debt to Equity	-17.52	-30.41	-15.2	0.08	-0.2	-1.09	0.5	0.25	0.39	-1.49	-0.25	0.27	-0.66	-0.18	0.62
Net Debt/Capital (%)	-29.14	105.6	108.99	0.09	-0.24	-1.3	0.59	0.29	0.45	-1.74	-0.29	0.35	-0.86	-0.22	25.43
EBITDA	3,040	4,007	5,064	5,767	6,890	6,619	6,540	7,028	8,055	8,230	6,478	10,121	11,902	10,908	8,899
EBITDA-CapEx	2,167	3,261	1,752	1,191	1,718	2,238	2,674	1,743	746	2,987	-1,132	5,014	3,188	-1,093	-4,511
Operating Income (Loss)	3,040	4,007	5,064	5,767	6,890	6,619	6,540	7,028	8,055	8,230	6,478	10,121	11,902	10,908	8,899

Liquidity (INR)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Cash Ratio	0.55	0.71	0.61	0.5	0.24	0.39	0.13	0.07	0.2	0.33	0.05	0.18	0.26	0.21	0.14
Current Ratio	2.28	2.18	2.39	2.78	2.21	2.32	2.17	2.44	2.02	2.12	1.85	2.33	2.24	1.84	1.64
Quick Ratio	0.55	0.71	0.61	0.5	0.24	0.39	0.13	0.07	0.2	0.33	0.05	0.18	0.26	0.21	0.14
CFO/Avg Current Liab	0.76	0.68	0.53	0.84	1.01	0.79	0.37	0.57	1.17	0.66	0.44	0.63	0.79	0.67	0.44
Common Equity/Total Assets	47.3	0.96	0.86	62.2	59.89	61.26	59.79	63.2	62.04	62.08	61.03	56.5	57.91	57.59	0.16
Long-Term Debt/Equity (%)	9.53	7.29	5.57	4.15	3.43	2.66	1.99	1.4	1.53	1.47	2.06	2.39	1.49	1.1	1.23
Long-Term Debt/Capital (%)	10.85	74.16	73.89	4.75	3.94	3.04	2.29	1.61	1.76	1.68	2.33	3.05	1.89	1.33	23.54
Long-Term Debt/Total Assets (%)	5.81	4.37	3.83	3.1	2.46	1.93	1.4	1.04	1.12	1.07	1.47	1.8	1.13	0.8	0.87
Total Debt/Equity (%)	10.21	8.23	6.29	4.26	3.5	2.79	2.16	1.75	2.3	2.19	2.77	3.35	2.3	3.53	5.01
Total Debt/Capital (%)	11.62	83.62	83.38	4.86	4.03	3.19	2.49	2.01	2.63	2.5	3.13	4.28	2.93	4.26	95.69
Total Debt/Total Assets (%)	6.22	4.92	4.32	3.18	2.51	2.02	1.52	1.3	1.68	1.59	1.97	2.53	1.75	2.56	3.55
CFO/Total Liabilities	56.52	47.2	44.9	65.35	66.44	55.76	26.13	46.62	87.47	50.55	34.73	48.32	58.1	48.62	33.3
CFO/CapEx	3.42	4.5	0.84	0.86	1.07	1.26	0.83	1.02	1.61	1.53	0.83	1.85	1.45	1.13	0.83
Altman's Z-Score	75.84	58.46	74.79	107.6	77.47	77.41	70.86	90.79	81.78	80.62	88.7	60.97	57.22	34.02	1.73

Working Capital (INR)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Accounts Receivable Turnover	7.56	8.45	8.24	8.37	8.06	9.12	8.93	8.73	9.7	10.02	10.96	12.32	11.52	10.71	11.02
Days Sales Outstanding	48.29	43.22	44.29	43.63	45.3	40.02	40.87	41.81	37.63	36.41	33.29	29.63	31.67	34.08	33.11
Inventory Turnover	5.94	7.25	7.42	7.53	5.85	5.02	4.49	4.48	4.12	3.75	3.85	4.04	4.35	4.19	3.98
Days Inventory Outstanding	61.42	50.31	49.21	48.49	62.43	72.68	81.3	81.43	88.69	97.31	94.72	90.31	83.88	87.13	91.69
Accounts Payable Turnover	16.18	16.28	15.64	14.18	10.29	9.84	8.75	8.6	8.21	7.55	8.52	9.06	10.19	9.19	8.54
Accounts Payable Turnover Days	22.56	22.43	23.34	25.74	35.49	37.09	41.7	42.43	44.48	48.35	42.82	40.29	35.81	39.73	42.74
Cash Conversion Cycle	87.15	71.11	70.17	66.39	72.25	75.61	80.47	80.81	81.85	85.36	85.2	79.65	79.74	81.48	82.06
Inventory to Cash Days	-13.13	-7.1	-4.93	-4.86	-17.13	-32.67	-40.43	-39.61	-51.06	-60.89	-61.43	-60.69	-52.21	-53.05	-58.58
Inventories	2,666	2,929	3,350	4,181	6,016	8,170	10,497	10,614	11,430	14,389	18,046	17,340	19,484	21,954	25,147
Raw Materials	1,236	1,186	1,270	1,567	2,216	2,659	4,716	3,541	4,876	7,152	7,588	7,251	7,452	8,282	- -
Work In Process	811	829	1,052	1,363	1,507	2,155	2,115	2,871	2,766	2,912	4,364	3,604	4,044	4,367	- -
Finished Goods	608	905	1,016	1,244	2,286	3,350	3,661	4,196	3,783	4,320	6,087	6,471	7,974	9,290	- -
Other Inventory	11	8	11	7	7	6	5	6	5	6	7	14	15	15	25,147

Enterprise Value (INR)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Market Capitalization	635,701	658,212	743,055	1,045,347	1,029,519	1,225,061	1,389,757	1,692,219	1,764,247	2,054,953	2,610,176	1,889,221	1,969,104	1,446,741	- -
- Cash & Cash Equivalents	2,283	4,095	2,929	746	784	1,007	487	502	326	969	349	949	983	1,578	2,260
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	841	872	857	760	741	725	635	584	839	923	1,259	2,014	1,567	2,608	4,062
Enterprise Value	634,258	654,989	740,983	1,043,830	1,028,759	1,222,799	1,389,126	1,692,177	1,762,860	2,051,428	2,610,687	1,888,569	1,966,112	1,444,442	131
Total Capital	7,233	1,043	1,028	15,619	18,415	22,684	25,558	28,999	31,861	36,913	40,172	47,001	53,559	61,169	4,245
Total Debt/Capital (%)	11.62	83.62	83.38	4.86	4.03	3.19	2.49	2.01	2.63	2.5	3.13	4.28	2.93	4.26	95.69
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	31
EV/Sales	26.84	22.15	21.57	24.79	22.28	23.06	23	25	25.88	28.76	30.16	18.27	16.87	11.24	- -
EV/EBITDA	208.67	163.48	146.31	181.01	149.31	184.73	212.42	240.77	218.86	249.26	403.03	186.6	165.19	132.42	0.01
EV/EBIT	208.67	163.48	146.31	181.01	149.31	184.73	212.42	240.77	218.86	249.26	403.03	186.6	165.19	132.42	0.01
EV/Cash Flow to Firm	212.23	195.24	265.82	264.24	184.32	219.67	427.94	310.43	148.75	253.38	405.45	195.62	152.56	104.35	0.01
EV/Free Cash Flow to Firm	164.28	159.73	121.48	122.44	95.67	122.92	195.32	157.62	92.01	153.78	185.84	127.93	91.01	55.89	0.01
Diluted Market Cap	635,701	658,212	743,055	1,045,347	1,029,519	1,225,061	1,389,757	1,692,219	1,764,247	2,054,953	2,610,176	1,889,221	1,969,104	1,446,741	- -
Diluted Enterprise Value	634,258	654,989	740,983	1,045,360	1,029,476	1,224,779	1,389,905	1,692,301	1,764,760	2,054,907	2,611,086	1,890,286	1,969,687	1,447,770	1,802
EV per Share	3,713.18	3,834.55	4,337.99	6,110.97	6,022.74	7,158.72	8,132.46	9,906.63	10,320.44	12,009.82	15,283.93	10,318.62	10,742.29	7,892.92	- -
TTM Sales	23,633	29,574	34,345	42,113	46,178	53,022	60,409	67,695	68,128	71,332	86,547	103,393	116,537	128,463	138,140
TTM EBITDA	3,040	4,007	5,064	5,767	6,890	6,619	6,540	7,028	8,055	8,230	6,478	10,121	11,902	10,908	8,899
TTM Operating Income	3,040	4,007	5,064	5,767	6,890	6,619	6,540	7,028	8,055	8,230	6,478	10,121	11,902	10,908	8,899
TTM Cash Flow to Firm	2,989	3,355	2,788	3,950	5,582	5,566	3,246	5,451	11,851	8,096	6,439	9,654	12,888	13,842	11,513
TTM Free Cash Flow to Firm	3,861	4,101	6,100	8,526	10,753	9,948	7,112	10,736	19,160	13,340	14,048	14,762	21,602	25,843	24,924

Multiples (INR)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025	03/31/2026

Price/Free Cash Flow	164.82	160.51	121.82	122.61	96.05	123.61	196.22	158.21	92.49	154.91	187.22	129.81	92.12	56.7	- -
EV/EBIT	208.67	163.48	146.31	181.01	149.31	184.73	212.42	240.77	218.86	249.26	403.03	186.6	165.19	132.42	0.01
Enterprise Value	634,258	654,989	740,983	1,043,830	1,028,759	1,222,799	1,389,126	1,692,177	1,762,860	2,051,428	2,610,687	1,888,569	1,966,112	1,444,442	131
Low Price	2,767.64	3,519.49	3,662.48	4,259.9	4,818.68	5,956.18	7,142.39	7,657.3	8,341.22	9,712.63	12,015.98	9,469.48	7,561.46	7,789.27	3,975.48
EV/Sales	26.84	22.15	21.57	24.79	22.28	23.06	23	25	25.88	28.76	30.16	18.27	16.87	11.24	- -
EV/EBITDA	208.67	163.48	146.31	181.01	149.31	184.73	212.42	240.77	218.86	249.26	403.03	186.6	165.19	132.42	0.01
Price/Earnings	295.59	229.58	202.23	254.43	209.41	256.03	294.86	350.19	266.99	317.7	509.23	258.5	210.74	153.15	- -
Price/Earnings Average	273.34	232.71	189.86	211.58	201.45	254.02	284.28	312.02	278.06	319.47	484.8	308.56	188.89	182.74	- -
Price/Earnings High	300.68	250.4	213.59	266.53	218.81	288.25	312.8	352.75	325.34	352.22	558.77	393.17	221.1	211.06	- -
Price/Earnings Low	219.82	209.68	170.26	177.1	167.42	212.62	258.85	270.67	215.62	256.49	400.43	237.15	148.11	150.9	- -
Price/Book Value	99.45	3,853.48	4,350.18	70.35	58.25	55.79	55.76	59.55	56.87	57.1	67.08	41.99	37.87	24.7	- -
Price/Book Value Average	91.96	3,906.11	4,084.13	58.5	56.04	55.35	53.76	53.06	59.23	57.42	63.86	50.13	33.95	29.48	- -
Price/Book Value High	101.16	4,202.94	4,594.63	73.69	60.87	62.81	59.16	59.99	69.3	63.3	73.6	63.87	39.73	34.05	- -
Price/Book Value Low	73.96	3,519.55	3,662.53	48.97	46.57	46.33	48.95	46.03	45.93	46.1	52.75	38.52	26.62	24.34	- -
Price/Tangible Book Value	77.44	62.33	54.67	58.73	48.75	47.34	47.39	52.06	49.59	49.96	58.36	34.28	31.29	20.95	- -
Price/Tangible Book Value Average	71.61	63.18	51.33	48.84	46.9	46.97	45.69	46.39	51.65	50.24	55.56	40.92	28.04	25	- -
Price/Tangible Book Value High	78.77	67.99	57.75	61.52	50.94	53.29	50.28	52.44	60.43	55.39	64.04	52.14	32.82	28.87	- -
Price/Tangible Book Value Low	57.59	56.93	46.03	40.88	38.98	39.31	41.61	40.24	40.05	40.33	45.89	31.45	21.99	20.64	- -
Price/Sales	26.9	22.26	21.63	24.82	22.29	23.1	23.01	25	25.9	28.81	30.16	18.27	16.9	11.26	- -
Price/Sales Average	24.87	22.56	20.31	20.64	21.45	22.92	22.18	22.27	26.97	28.97	28.71	21.81	15.15	13.44	- -
Price/Sales High	27.36	24.27	22.85	26	23.3	26.01	24.41	25.18	31.56	31.94	33.09	27.79	17.73	15.52	- -
Price/Sales Low	20	20.33	18.21	17.28	17.82	19.19	20.2	19.32	20.91	23.26	23.72	16.76	11.88	11.1	- -
Price/Cash Flow	212.98	196.21	266.57	264.63	185.6	221.57	432.06	312.71	149.95	256.16	412.18	199.99	155.53	107.06	- -
Price/Cash Flow Average	196.95	198.89	250.26	220.06	178.54	219.84	416.54	278.63	156.17	257.59	392.4	238.72	139.41	127.75	- -
Price/Cash Flow High	216.65	214	281.55	277.21	193.93	249.47	458.34	315	182.72	284	452.27	304.17	163.18	147.55	- -
Price/Cash Flow Low	158.39	179.21	224.43	184.2	148.38	184.01	379.29	241.71	121.1	206.81	324.11	183.47	109.31	105.49	- -
Price/Free Cash Flow Average	152.41	162.71	114.37	101.97	92.39	122.65	189.17	140.97	96.33	155.77	178.24	154.94	82.57	67.66	- -
Price/Free Cash Flow High	167.66	175.07	128.66	128.45	100.36	139.17	208.16	159.36	112.71	171.74	205.43	197.42	96.65	78.15	- -
Price/Free Cash Flow Low	122.57	146.6	102.56	85.35	76.79	102.66	172.25	122.28	74.7	125.06	147.22	119.08	64.75	55.87	- -
EV/Sales Average	24.81	22.45	20.25	20.64	21.45	22.92	22.18	22.27	26.98	28.97	28.72	21.82	15.15	13.45	0.01
EV/Sales High	27.3	24.17	22.79	26	23.29	26.01	24.41	25.18	31.56	31.94	33.1	27.8	17.73	15.53	0.01
EV/Sales Low	19.94	20.22	18.15	17.28	17.82	19.18	20.2	19.32	20.92	23.26	23.73	16.77	11.88	11.1	0.01
EV/EBITDA Average	192.93	165.72	137.34	150.75	143.73	183.58	204.91	214.55	228.19	251.07	383.75	222.91	148.34	158.35	0.2
EV/EBITDA High	212.27	178.38	154.55	189.9	156.12	208.33	225.46	242.55	266.98	276.81	442.28	284	173.62	182.88	0.2
EV/EBITDA Low	155.06	149.24	123.12	126.18	119.45	153.66	186.58	186.12	176.95	201.57	316.99	171.35	116.33	130.77	0.2
EV/EBIT Average	192.93	165.72	137.34	150.75	143.73	183.58	204.91	214.55	228.19	251.07	383.75	222.91	148.34	158.35	0.2
EV/EBIT High	212.27	178.38	154.55	189.9	156.12	208.33	225.46	242.55	266.98	276.81	442.28	284	173.62	182.88	0.2
EV/EBIT Low	155.06	149.24	123.12	126.18	119.45	153.66	186.58	186.12	176.95	201.57	316.99	171.35	116.33	130.77	0.2
Last Price	3,721.63	3,853.42	4,350.12	6,119.85	6,027.19	7,171.97	8,136.16	9,906.88	10,328.56	12,030.46	15,280.94	10,322.18	10,758.64	7,905.49	4,341.16
High Price	3,785.71	4,202.88	4,594.56	6,410.96	6,297.79	8,074.77	8,631.11	9,979.22	12,586.12	13,337.84	16,767.29	15,699.31	11,287.5	10,894.94	8,008.56
Enterprise Value Average	586,406	663,980	695,539	869,323	990,324	1,215,194	1,340,006	1,507,864	1,837,942	2,066,375	2,485,835	2,256,131	1,765,543	1,727,295	1,802
Enterprise Value High	645,205	714,682	782,737	1,095,085	1,075,698	1,378,988	1,474,449	1,704,658	2,150,380	2,278,223	2,864,973	2,874,436	2,066,482	1,994,853	1,802
Enterprise Value Low	471,305	597,951	623,525	727,658	823,048	1,017,106	1,220,158	1,308,045	1,425,298	1,658,993	2,053,390	1,734,220	1,384,523	1,426,502	1,802

Shares Outstanding	175	171	171	171	171	171	171	171	171	171	171	171	183	183	183
Diluted Weighted Avg Shares	171	171	171	171	171	171	171	171	171	171	171	183	183	183	- -
Basic Weighted Avg Shares	171	171	171	171	171	171	171	171	171	171	171	183	183	183	- -
Revenue per Share	138.36	173.14	201.07	246.55	270.34	310.41	353.66	396.31	398.85	417.61	506.68	564.91	636.73	701.97	- -
EBITDA per Share	17.79	23.46	29.65	33.76	40.34	38.75	38.29	41.15	47.15	48.18	37.92	55.3	65.03	59.61	- -
Operating Income per Share	17.79	23.46	29.65	33.76	40.34	38.75	38.29	41.15	47.15	48.18	37.92	55.3	65.03	59.61	- -
Basic EPS, GAAP	12.59	16.78	21.51	24.05	28.78	28.01	27.59	28.29	38.69	37.87	30.01	39.93	51.05	51.62	- -
Basic EPS from Cont Ops	12.59	16.78	21.51	24.05	28.78	28.01	27.59	28.29	38.69	37.87	30.01	39.93	51.05	51.62	- -
Diluted EPS, GAAP	12.59	16.78	21.51	24.05	28.78	28.01	27.59	28.29	38.69	37.87	30.01	39.93	51.05	51.62	- -
Diluted EPS from Cont Ops	12.59	16.78	21.51	24.05	28.78	28.01	27.59	28.29	38.69	37.87	30.01	39.93	51.05	51.62	- -
Dividend per Share	1.3	1.89	2.52	3.78	9.45	- -	7.52	5	19.39	5	10	3.17	7.47	10.4	- -
Cash Flow per Share	17.47	19.64	16.32	23.13	32.47	32.37	18.83	31.68	68.88	46.96	37.07	51.61	69.17	73.84	- -
Free Cash Flow per Basic Share	12.37	15.27	-3.07	-3.66	2.2	6.72	-3.8	0.74	26.09	16.27	-7.47	23.71	21.56	8.26	- -
Cash & Equivalents per Share	13.37	23.97	17.15	13.33	8.79	17.49	7.41	3.67	13.04	26.04	4.38	14.57	24.91	26.81	- -
Book Value per Share	37.42	1	1	87	103.47	128.56	145.91	166.35	181.62	210.7	227.81	245.8	284.07	320	- -
Tangible Book Value per Share	48.06	61.82	79.57	104.21	123.62	151.51	171.67	190.29	208.28	240.8	261.84	301.13	343.87	377.37	- -

Alexandria Real Estate Equities, Inc.

Profitability (INR)

Credit (INR)

Liquidity (INR)

Working Capital (INR)

Enterprise Value (INR)

Multiples (INR)

Per Share Data Items (INR)