1. © Infosys Technologies Limited 2006-07 Financial Performance 2006-07 V. Balakrishnan Chief Financial Officer

2. © Infosys Technologies Limited 2006-07 Safe harbor Certain statements made here concerning Infosys’ future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2007 and the Quarterly Reports on Form 6-K for the fiscal quarters ended June 30, 2006, September 30, 2006 and December 31,2006. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

3. © Infosys Technologies Limited 2006-07 Highlights »Revenues of US $3 billion in Fiscal 2007 »Revenue growth of 44% in dollar terms and 46% in rupee terms as against our guidance of 28-30% in April 2006 »Recommended a final dividend of Rs. 6.50 per share (130% on par value of Rs. 5 per share) amounting to Rs. 371 crores. Including Interim dividend, the total dividend recommended for the year is Rs. 11.50 per share (230% on par value of Rs. 5 per share) amounting to Rs. 649 crores »Added 160 clients during the year »Net addition of 19,526 employees »Award for the best presented Annual Report for fiscal 2006 received from The Institute of Chartered Accountants of India (ICAI) for the 11th consecutive year

4. © Infosys Technologies Limited 2006-07 Sponsored Secondary ADS Program »Completed sponsored secondary offering of ADS in Nov 2006 – size of USD 1.6 billion, the largest international equity offering from India at that time »Included in NASDAQ Global Select Market in July 2006 »First Indian company to be added to the NASDAQ-100 Index and the only Indian company to be part of any major global indices

5. © Infosys Technologies Limited 2006-07 A great year – Growth exceeded our expectations GuidanceActual Revenue (Q1) Rs. Cr.2,793 – 2,8163,015 EPS12.38 – 12.6014.36 Revenue (Q2) Rs. Cr.3,257 – 3,2803,451 EPS14.73 – 14.8916.75 Revenue (Q3) Rs. Cr.3,602 – 3,6253,655 EPS16.8417.64 Revenue (Q4) Rs. Cr.3,789 – 3,7983,772 EPS17.8820.30

6. © Infosys Technologies Limited 2006-07 Revenue and profit grew faster… Based on consolidated Indian GAAP Financials * Net profit after tax and minority interest, before exceptional item and tax reversals 46% 44% 42% 52%

7. © Infosys Technologies Limited 2006-07 …While margins were maintained. * Net profit after tax and minority interest, before exceptional item and tax reversals

8. © Infosys Technologies Limited 2006-07 Business mix became richer…. Increased contribution from new services (% to total revenue) 20032004200520062007 Package Implementation11.0%14.5%15.2%16.2%17.5% Testing3.4%5.3%5.8%5.9%6.9% Consulting4.3%3.7%3.6%3.5%3.6% Business Process Management 0.5%1.6%2.7%4.0%4.7% Engineering Services2.6%2.2%2.0%1.8%1.6% Other services7.8%8.1%8.4%9.7%9.4% Total29.6%35.4%37.7%41.1%43.7%

9. © Infosys Technologies Limited 2006-07 …resulting in higher revenue productivity. Variation in per-capita revenues (in US$ terms) 20032004200520062007 Onsite(2.5)%(2.9)%0.2%0.3%4.4% Offshore (4.7)%(2.6)%1.3%0.8%2.7% Blended (0.8)%(5.0)%(1.0)%0.7%4.9%

10. © Infosys Technologies Limited 2006-07 We continued to leverage the Global Delivery Model 20062007 Effort mix (%) Onsite31.732.9 Offshore68.367.1 Total100.0 Billed person months Onsite95,675134,767 Offshore206,579274,989 Total302,254409,756 Change in billed person months (%) Onsite32.140.9 Offshore30.933.1 Total31.335.6 Utilization rates Including trainees (%)71.069.1 Excluding trainees (%)78.177.1

11. © Infosys Technologies Limited 2006-07 Wages increased during the year 20062007 Wage increase – Offshore15% – Onsite3% Onsite salaries (% to revenues)32.9%32.4% Offshore salaries (% to revenues)14.5%15.6% Variable salaries (Rs. Cr.)427599 Variable salary as a % of offshore salary25.3%24.9%

12. © Infosys Technologies Limited 2006-07 The G&A expenses were under control 20062007 General & Administration expenses (Rs. Cr.)7641,115 General & Administration cost / revenue (%)8.0% G&A personnel2,7763,548 Total no. of employees52,71572,241 % to total employees5.3%4.9%

13. © Infosys Technologies Limited 2006-07 We continued to invest for growth 20062007 1) Sales & Marketing expenses (Rs. Cr.)600929 Selling & Marketing expenses / revenues (%)6.36.7 Sales & Marketing employees (No.)444537 Marketing offices (No.)3743 2) R&D Expenses (Rs. Cr.)102167 3) Losses in subsidiaries : China(17)(29) Consulting(36)(111)

14. © Infosys Technologies Limited 2006-07 The currency moved favorably 20062007 Average rupee dollar rate This Year44.2145.06 Previous Year44.8744.21 % change(1.5%)1.9% Period end rupee dollar rate This Year44.4843.10 Previous Year43.6244.48 % change2.0%(3.1%) Forward contracts and options outstanding as at March 31 ($ Mn)350470 Transaction & translation losses (Rs. Cr.)(8)(21) Benefit due to hedging (Rs. Cr.)(69)63 Net impact (Rs. Cr.)(77)42

15. © Infosys Technologies Limited 2006-07 The end result 2006% 2007% Income9,521100%13,893100% Software development and BPM expenses5,06653%7,45854% GROSS PROFIT4,45547%6,43546% Selling and marketing expenses6006%9297% General and administration expenses7648%1,1158% Operating profit before interest and depreciation3,09132%4,39132% Interest–––– Depreciation4375%5144% Operating profit after interest, depreciation and amortization2,65428%3,87728% Other income1391%3723% Provision for investments10%2 NET PROFIT BEFORE TAX2,79229%4,24731% Provision for taxation3133%3863% NET PROFIT AFTER TAX2,47926%3,86128% Exceptional item––6– NET PROFIT AFTER TAX, EXCEPTIONAL ITEM & BEFORE MINORITY INTEREST2,47926%3,86728% Minority interest21–11– NET PROFIT AFTER TAX, EXCEPTIONAL ITEM & MINORITY INTEREST2,45826%3,85628%

16. © Infosys Technologies Limited 2006-07 We have a Healthy Balance Sheet Rs. Cr.2007%2006% SOURCES OF FUNDS Share capital28621382 Reserves and surplus10,969976,82897 Minority interest4168 1 Total11,2591007,034100 APPLICATION OF FUNDS Fixed assets3,771332,22632 Investments– –2 – Deferred tax assets921651 Sundry debtors2,436221,60823 Cash & equivalents6,073544,70966 Other current assets1,037977011 Current liabilities(2,150)(19)(2,346)(33) Total11,2591007,034100 We continue to be a zero-debt company

17. © Infosys Technologies Limited 2006-07 We exercise tight control over receivables Age profile of accounts receivable 0 – 3031– 6061 – 90> 90 Days of sales receivable – 64 days Days of sales receivable – 61 days

18. © Infosys Technologies Limited 2006-07 We continue to balance between liquidity and profitability * Cash and cash equivalents include investments in liquid mutual funds ** Excluding Silver Jubilee special dividend in 2006 Target200520062007 ROCE (%)51.4%44.9%45.7% Times cost of capital2.03.83.53.1 ROIC (%)123.6%94.0%89.1% Times cost of capital3.09.17.36.0 Days sales outstanding60676164 Cash & cash equivalents / total assets * 40.0%54.4%64.7%50.6% Cash & cash equivalents / revenue * 25.0%41.6%49.4%43.0% Dividend % (% to net profits)**Upto 20%18.519.419.9

19. © Infosys Technologies Limited 2006-07 Our revenues are well diversified Revenue by Industry Vertical Insurance, Banking & Financial Services Manufacturing Telecom Retail Others Revenue by Geography North America Europe India Rest of the World

20. © Infosys Technologies Limited 2006-07 The power of the intangibles 200520062007 Average age of employees (years)26.0 Education index100,351148,499203,270 Women employees / total employees (%)24.9%27.6%30.9% Attrition (%)9.711.213.7 HR value (Rs. Cr.)28,33446,63757,452 Brand value (Rs. Cr.)14,15322,91531,617 EVA (Rs. Cr.)1,1321,5402,122 Value added (Rs. Cr.)6,0538,03011,879 R&D expenditure (Rs. Cr.)74102167 R&D expenditure / revenue (%)1.081.071.20

21. © Infosys Technologies Limited 2006-07 Performance of subsidiaries Infosys BPO Limited FormedApr 2002 Investment (Rs. Cr.)637 Holding (%) – Mar 200798.92 Shares Buyback in FY 2007 – Citicorp – IBPO employees 87,50,000 2,11,909 FY07 Revenue (Rs. Cr.)662 FY07 PAT (Rs. Cr.)152 FY07 PAT %22.9 Y-o-Y Growth Revenue %74.7 Y-o-Y Growth PAT %63.4 Employees as of March 31, 200711,226

22. © Infosys Technologies Limited 2006-07 Performance of subsidiaries Infosys Technologies (Australia) Pty Limited AcquiredJan 2004 Investment (Rs. Cr.) 66 Holding (%) – Mar 2007100.00 FY07 Revenue (Rs. Cr.)446 FY07 PAT (Rs. Cr.) 71 FY07 PAT %15.9 Y-o-Y Growth Revenue %39 Y-o-Y Growth PAT %294 Employees as of March 31, 2007306

23. © Infosys Technologies Limited 2006-07 Performance of subsidiaries Infosys Technologies (China) Co. Limited FormedOct 2003 Investment (Rs.Cr.)46 Holding (%) – Mar 2007100.00 FY07 Revenue (Rs.Cr.)60 FY07 PAT (Rs.Cr.)(29) Employees669

24. © Infosys Technologies Limited 2006-07 Performance of subsidiaries Infosys Consulting Inc., FormedApr 2004 Investment (Rs.Cr.) 90 Holding (%) – Mar 2007100.00 FY07 Revenue (Rs.Cr.)213 FY07 PAT (Rs.Cr.)(111) Employees209

25. © Infosys Technologies Limited 2006-07 Financial statements - US GAAP

26. © Infosys Technologies Limited 2006-07 Financial highlights 44% 45% 42% 53% ( US$ Million )

27. © Infosys Technologies Limited 2006-07 Financial highlights

28. © Infosys Technologies Limited 2006-07 RISK MANAGEMENT

29. © Infosys Technologies Limited 2006-07 Infosys’ unified view of the Risk Universe - Regulatory dynamics- Contractual compliance - IP management- Contractual exposures - Data security management- Litigation/violation response - Operations planning - Complex execution management - Execution excellence- Contingency planning - Systems & processes - Talent supply management- Scalability of infrastructure - Talent development- Deployment efficiency - Career Value Management - Vendor selection- Supply-chain management - Vendor exposure- Customer exposure - Credit management- Customer concentration - Geopolitical change- Industry & market dynamics - Technical innovation- Access to capital - Competition intensity- Market selection - Planning effectiveness- Service differentiation - Growth engines- Brand and reputation - Leadership- Execution of strategy Strategy Industry Counter-party Resources Operations Compliance Information for decision-making

30. © Infosys Technologies Limited 2006-07 © Infosys Technologies Limited 2005-06 Thank You

31. © Infosys Technologies Limited 2006-07