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Infosys Technologies Limited

in Rs
Balance Sheet as at Schedule June 30, 2000 June 30, 1999 March 31, 2000
SOURCES OF FUNDS
SHAREHOLDERS' FUNDS
Share capital 1 33,07,58,335 33,06,95,500 33,07,55,000
Reserves and surplus 2 1060,95,95,077 654,61,29,197 800,22,73,248
1094,03,53,412 687,68,24,697 833,30,28,248
APPLICATION OF FUNDS
FIXED ASSETS 3
Gross block 435,74,18,072 201,20,83,575 284,03,05,143
Less : Depreciation 175,13,71,312 102,07,57,018 133,65,20,594
Net block 260,60,46,760 99,13,26,557 150,37,84,549
Add : Capital work-in-progress 104,58,25,080 41,28,99,285 56,96,03,505
365,18,71,840 140,42,25,842 207,33,88,054
INVESTMENTS 4 45,73,06,737 75,48,469 13,83,48,469
Sundry debtors 5 243,05,68,746 133,47,09,804 136,17,81,253
Cash and bank balances 6 424,28,92,315 377,68,71,030 431,79,35,730
Loans and advances 7 288,54,93,594 164,28,14,672 210,12,77,161
955,89,54,655 675,43,95,506 778,09,94,144
Less : Current liabilities 8 150,82,14,077 58,78,14,181 67,15,06,459
Provisions 9 121,95,65,743 70,15,30,939 98,81,95,960
NET CURRENT ASSETS 683,11,74,835 546,50,50,386 612,12,91,725
1094,03,53,412 687,68,24,697 833,30,28,248
SIGNIFICANT ACCOUNTING POLICIES AND
NOTES ON ACCOUNTS
13

The Schedules referred to above and the notes thereon form an integral part of the Balance Sheet. This is the Balance Sheet referred
to in our report of even date. for Bharat S Raut & Co.
Chartered Accountants

Balaji Swaminathan
Partner
N. R. Narayana Murthy
Chairman and
Chief Executive Officer
Nandan M. Nilekani
Managing Director, President
and Chief Operating Officer
Marti G. Subrahmanyam
Director
Deepak M. Satwalekar
Director
S. Gopalakrishnan
Deputy Managing Director
K. Dinesh
Director
S. D. Shibulal
Director
T. V. Mohandas Pai
Director and
Chief Financial Officer
Phaneesh Murthy
Director
Srinath Batni
Director
Place : Bangalore
Date : October 10, 2000
V. Vishwanathan
Company Secretary

INFOSYS TECHNOLOGIES LIMITED

in Rs.
Schedules to the Balance Sheet as at Sep 30, 2000 Sep 30, 1999 Mar 31, 2000
1 SHARE CAPITAL
AUTHORIZED
10,00,00,000 (5,00,00,000) equity shares of Rs. 5 (Rs. 10) each 50,00,00,000 50,00,00,000 50,00,00,000
ISSUED, SUBSCRIBED AND PAID UP
Equity shares, Rs. 5 (Rs. 10 ; Rs.5) par value
6,61,51,367 (3,30,69,400; 6,61,50,700) equity shares, fully paid up
[Of the above, 5,78,88,200 (2,89,44,100; 5,78,88,200) equity shares
fully paid up have been issued as bonus shares by
capitalization of the general reserve]
33,07,56,835 33,06,94,000 33,07,53,500
Add: Forfeited shares 1,500 1,500 1,500
33,07,58,335 33,06,95,500 33,07,55,000
2 RESERVES AND SURPLUS
Capital reserve 5,93,54,103 5,93,54,103 5,93,54,103
Share premium account as at April 1, 318,37,81,595 319,99,15,445 319,99,15,445
Add : Received during the period
On conversion of ADS linked stock options
9,98,171 - 1,75,65,777
318,47,79,766 319,99,15,445 321,74,81,222
Less : ADS linked stock option issue expenses - - 1,01,93,113
ADS issue expenses - 2,05,30,090 2,35,06,514
318,47,79,766 317,93,85,355 318,37,81,595
General reserve as at April 1, 475,91,37,550 215,43,46,200 215,43,46,200
Add: Transferred from Profit and Loss Account - - 260,47,91,350
Balance in Profit and Loss Account 260,63,23,658 115,30,43,539 -
736,54,61,208 330,73,89,739 475,91,37,550
1060,95,95,077 654,61,29,197 800,22,73,248

INFOSYS TECHNOLOGIES LIMITED

in Rs.
Schedules to the Balance Sheet as at Sep 30, 2000 Sep 30, 1999 Mar 31, 2000
4 INVESTMENTS
TRADE (UNQUOTED)-at cost
Long- term investments
Yantra Corporation, a subsidiary company
incorporated in the USA
75,00,000 (75,00,000; 75,00,000) common stock
at US$ 0.20 each, fully paid, par value US$ 0.01 each
5,32,51,600 5,32,51,600 5,32,51,600
6,36,363 (6,36,363; 6,36,363) Series A convertible preferred stock,
at US$ 0.75 each, fully paid, par value US$ 0.01 each
1,73,44,074 1,73,44,074 1,73,44,074
7,05,95,674 7,05,95,674 7,05,95,674
Less: Provision for investment in subsidiary 7,05,95,674 7,05,95,674 7,05,95,674
Alpha Thinx Mobile Phone Services AG, Austria 2,20,98,608 - -
27,790 (nil; nil) bearer shares
at € 20 each, fully paid, par value € 1 each
Asia Net Media BVI Ltd, the British Virgin Islands 6,84,75,000 - -
3,00,00,000 (nil; nil) common stock
at US$ 0.05 each, fully paid, par value US$ 0.01 each
CiDRA Corporation, USA 13,40,08,660 - -
33,333 (nil; nil) Series D convertible preferred stock
at US$ 90 each, fully paid, par value US$ 0.01 eachv
EC Cubed, Inc., USA 13,08,00,000 - 13,08,00,000
13,00,108 (nil; 13,00,108) Series D convertible preferred stock
at US$ 2.3075 each, fully paid up, par value US$ 0.0001 each
JASDIC Park Company, Japan 75,38,109 75,38,109 75,38,109
480 (480; 480) common stock
at ¥ 50,000 each, fully paid, par value ¥ 50,000 each
M-Commerce Ventures Pte Ltd, Singapore

Units in the company, each unit representing 1 common stock of Singapore $1 each,
fully paid, par value Singapore $1 and 9 redeemable preferred stock of Singapore $1,
fully paid, at a premium of Singapore $1,110 per redeemable preferred stock

20 (nil; nil) common stock 504 - -
180 (nil; nil) redeemable preference stock 50,35,496 - -
Onscan Inc., USA
1,00,000 (nil; nil) common stock
at US$ 0.4348 each, fully paid, par value US$ 0.01 each
19,42,162 - -
1,00,000 (nil; nil) Series A voting convertible preferred stock
at US$ 0.4348 each, fully paid, par value US$ 0.0001 each
19,42,162 - -
44,00,000 (nil; nil) Series A non-voting convertible preferred stock
at US$ 0.4348 each, fully paid, par value US$ 0.0001 each
8,54,55,676 - -
Software Services Support Education Center Limited 10 10 10
1 (1; 1) equity share of Rs. 10 each, fully paid, par value Rs. 10
The Saraswat Co-operative Bank Limited 10,350 10,350 10,350
1,035 (1,035; 1,035) equity shares of Rs. 10 each, fully paid, par value Rs. 10
45,73,06,737 75,48,469 13,83,48,469
Aggregate of unquoted investments - carrying value / cost 45,73,06,737 75,48,469 13,83,48,469
5 SUNDRY DEBTORS
Debts outstanding for a period exceeding six months
Unsecured
considered good
considered doubtful 3,49,20,557 3,15,66,586 2,21,26,448
Other debts
unsecured 243,05,68,746 133,47,09,804 136,17,81,253
considered good* 3,64,00,351 - -
considered doubtful 250,18,89,654 136,62,76,390 138,39,07,701
Less: Provision for doubtful debts 7,13,20,908 3,15,66,586 2,21,26,448
243,05,68,746 133,47,09,804 136,17,81,253
*includes due by subsidiary - Yantra Corporation 1,79,19,054 1,06,19,816 Nil

INFOSYS TECHNOLOGIES LIMITED

in Rs
Schedules to the Balance Sheet as at Sep 30, 2000 Sep 30, 1999 Mar 31, 2000
6 CASH AND BANK BALANCES
Cash on hand 28,77,276 9,68,923 13,17,773
Balances with scheduled banks
in current accounts * 28,92,56,120 12,87,53,879 10,16,77,272
in deposit accounts in Indian rupees 106,56,60,781 11,44,59,305 22,91,45,764
in deposit accounts in foreign currency 136,32,75,391 321,80,22,575 268,41,01,874
Balances with non-scheduled banks
In deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain 72,78,38,970 - 66,76,98,310
In current accounts
ABN Amro Bank, Heerlen, Netherlands 15,33,759 19,66,212 15,69,661
ABN Amro Bank, Brussels, Belgium 14,41,744 8,72,265 16,26,311
Bank of America, Concord, USA 1,49,58,076 - -
Bank of America, Los Angeles, USA 9,06,842 43,69,333 50,60,500
Bank of America, Milpitas, USA 2,24,10,018 2,77,54,969 22,81,065
Bank of America, Palo Alto, USA 66,35,52,087 25,40,88,591 57,93,97,557
Bank of Boston, Boston, USA 18,63,006 12,88,087 16,88,886
Bank of Melbourne, Melbourne, Australia 4,12,696 - 2,49,124
Barclays Bank, London, UK 2,58,61,410 17,10,625 44,92,122
Deutsche Bank, Frankfurt, Germany 20,02,017 22,23,666 36,15,221
First Chicago Bank, Chicago, USA 1,07,797 33,86,706 21,98,743
Hongkong Bank of Canada, Toronto, Canada 30,84,442 32,28,339 22,42,324
Michigan National Bank, Detroit, USA 9,33,249 4,08,965 3,87,308
Nations Bank, Dallas, USA 1,22,37,226 57,75,747 1,11,76,052
Nations Bank, Georgia, USA 12,11,413 11,41,029 12,41,385
Nordbanken, Stockholm, Sweden 10,42,268 - 3,45,518
Nova Scotia Bank, Toronto, Canada 2,95,46,101 - 89,98,950
Seafirst Bank, Seattle, USA 23,30,525 9,64,713 17,70,378
Sanwa Bank, Tokyo, Japan 14,76,759 42,69,892 40,43,674
Summit Bank, Bridgewater, USA 70,72,342 12,17,209 16,09,958
424,28,92,315 377,68,71,030 431,79,35,730
Maximum balance held during the period :
in deposit accounts in foreign currency
HSBC Bank Middle East, Bahrain 72,78,38,970 - 66,76,98,310
in current accounts
ABN Amro Bank, Heerlen, Netherlands 15,95,544 19,68,084 19,68,084
ABN Amro Bank, Brussels, Belgium 16,97,352 8,72,265 16,74,689
Bank of America, Concord, USA 1,89,84,569 - -
Bank of America, Los Angeles, USA 50,65,143 43,69,333 59,13,227
Bank of America, Milpitas, USA 5,42,67,620 3,49,94,866 4,57,78,346
Bank of America, Palo Alto, USA 69,60,58,192 43,06,19,240 71,03,42,796
Bank of Boston, Boston, USA 41,81,119 68,26,703 68,26,703
Bank of Melbourne, Melbourne, Australia 13,42,430 - 2,92,425
Barclays Bank, London, UK 2,58,61,410 41,17,538 67,59,209
Deutsche Bank, Frankfurt, Germany 36,94,391 23,45,436 40,36,519
First Chicago Bank, Chicago, USA 22,07,085 49,23,828 49,23,828
Hongkong Bank of Canada, Toronto, Canada 1,01,66,688 1,89,92,669 1,89,92,669
Michigan National Bank, Detroit, USA 17,44,660 13,34,282 13,34,282
Nations Bank, Dallas, USA 2,19,16,240 82,25,084 1,45,77,623
Nations Bank, Georgia, USA 21,33,612 18,23,598 18,23,598
Nordbanken, Stockholm, Sweden 16,97,129 - 3,45,518
Nova Scotia Bank, Toronto, Canada 2,95,46,101 - 89,98,950
Seafirst Bank, Seattle, USA 31,46,158 10,80,917 24,05,174
Sanwa Bank, Tokyo, Japan 48,69,517 58,34,325 79,10,422
Summit Bank, Bridgewater, USA 88,91,861 30,83,729 35,18,916

* Includes Rs. 43,57,995, Rs. 24,38,605, Rs. 28,72,035 being the balance in unclaimed dividend account as on Sep 30, 2000, Sep 30, 1999 and March 31, 2000 respectively.

INFOSYS TECHNOLOGIES LIMITED

<><><><>76,11,62,937
in Rs.
Schedules to the Balance Sheet as at Sep 30, 2000 Sep 30, 1999 Mar 31, 2000
7 LOANS AND ADVANCES
Unsecured, considered good
Advances recoverable in cash or
in kind or for value to be received:
prepaid expenses 14,25,23,497 6,84,65,020 11,58,60,415
advances paid for supplies of goods and rendering of services 4,68,10,740 2,14,63,240 3,10,07,019
others 1,13,95,857 99,19,275 1,01,94,327
20,07,30,094 9,98,47,535 15,70,61,761
Costs in excess of billings 32,54,234 - -
Advance income tax 84,61,76,889 32,78,45,496 54,40,96,353
Loans and advances to employees *
housing and other loans 41,62,65,716 29,17,85,549 38,74,34,826
salary advances 18,31,60,493 7,62,14,764 13,61,51,038
Other advances 2,79,55,755 1,64,81,095 3,23,06,323
Rent and maintenance deposits 9,18,07,348 6,94,77,296 7,84,24,995
Deposits with Financial Institutions / body corporate 111,61,43,06576,58,01,865
288,54,93,594 164,28,14,672 210,12,77,161
Unsecured, considered doubtful
Deposit with a company - 1,19,02,331 -
288,54,93,594 165,47,17,003 210,12,77,161
Less: Provision for doubtful loans and advances - 1,19,02,331 -
288,54,93,594 164,28,14,672 210,12,77,161
* includes due by non-director officers of the Company 94,19,631 1,67,22,341 1,35,08,825
Maximum amounts due at any time during the period 1,53,41,524 1,77,89,795 2,29,89,747
8 CURRENT LIABILITIES
Sundry creditors
for goods 20,51,445 22,95,019 4,25,90,239
for accrued salaries and benefits 39,58,43,157 18,67,09,815 22,44,51,291
for other liabilities
provision for expenses 13,16,84,955 7,58,23,568 7,67,74,570
retention monies 10,88,93,278 2,53,98,341 4,91,19,373
withholding taxes payable - - 6,67,44,284
others 3,56,75,313 1,37,30,091 1,47,21,153
67,41,48,148 30,39,56,834 47,44,00,910
Advances received from clients 9,48,68,483 38,63,038 1,85,61,551
Unearned revenue 73,48,39,451 27,75,55,704 17,56,71,963
Unclaimed dividend 43,57,995 24,38,605 28,72,035
150,82,14,077 58,78,14,181 67,15,06,459
9 PROVISIONS
Proposed dividend 16,53,78,418 9,92,08,200 19,84,18,210
Provision for tax on dividend 363,83,252 1,09,12,902 2,18,26,003
Provision for taxation 95,45,64,487 40,46,85,281 62,60,19,742
Provision for contingencies - 9,99,00,000 -
Provision for e-inventing the Company - 3,50,00,000 39,00,977
Provision for post-sales client support 6,32,39,586 5,18,24,556 5,51,91,028
Provision for gratuity - - 8,28,40,000
121,95,65,743 70,15,30,939 98,81,95,960

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