First error (marked in red) is due to the lack of file php5apache2_2.dll in the Apache2.2 directory. I copied this file from PHP installation directory to Apache installation directory. I tried to start Apache with httpd. I got the second error.
Second error (marked in purple) is due to lack of path in the Apache configuration file httpd.conf (localted in conf directory of Apache installation folder). I updated the path by giving correct PHP installation location for variable 'PHPIniDir' in httpd.conf file. I am able to start the Apache successfully. I accessed index.php and I can see the page!