Ann: TSI India wins a further 800 ATMs under contract, page-43

Prior to the 11/09/2014 TNB ATM total was 650 ATMs.

On the 11/09/2014 we were informed of the new contract for TMB of 500 ATMs to come online soon.

TMB - 650 + 500 = 1150 ATMs

The company informed us that they hit the milestone of 1500 present existing ATMs operational (as of 31st August 2014) and a further 800 ATMs coming as new business (TMB & PNB).

We know there are 1500 ATMs online presently.

1500 - 650 TMB ATMs = 850 ATMs

For the sake of this exercise lets divide that 850 ATMs by 2 (PNB & HDFC)

850 / 2 = 425 ATMs between the two banks.

As I mentioned in my previous post...

The last update re HDFC Bank was on the 25/06/2013 where TSI India signed a third, seven year addendum agreement with India's second largest private bank for ATM deployment. In that announcement, TSI India highlighted that the plans were to target 1500 ATMs by March 2014 and that Mr. Foster advised that HDFC had aggressive expansion plans.

Therefore if we deduct 425 ATMs (rough estimate) from the 1500 target with re to HDFC, that would equal....

1500 - 425 = 1075 ATMs remaining target or thereabouts with re to HDFC.

Tony