SADBHAV ENGINEERING LTD

Sadbhav Engineering Limited (SEL), a leading Gujarat based company was incorporated on 3rd October 1988 as a private limited company after taking over the running business of M/s Bhavna Construction Co. The Company is engaged in the business of development of infrastructure facilities in areas of canals, irrigations projects, roads, bridges, mining activities on contract basis, dams including civil, electrical and mechanical contractor, designer and engineers, structural contractor, earthwork contractor for repairing, reconstruction, renovation, demolitions and construction of canals, irrigations projects, roads, bridge, dams. It is also engaged in business of energy generation through Wind Power Project. The Company implemented and executed projects of national significance including construction of roads and highways, bridges, mining and irrigation supporting infrastructure. SEL has successfully constructed 9283 lane kms of roads and highways (both state and national highways) and are among the top most infrastructure companies in India. The Company was awarded the first Sardar Sarovar Narmada Nigam Limited (SSNNL) Canal Project during the year 1989-90. SEL attained the status of Deemed Public Company on the turnover criteria at the end of the third financial year 1992. The first mine excavation project of the company was executed in the year 1992-93. First activities in the construction segment of the company were started in the year 1993 with the contract Strengthening and Widening of Sambalpur-Rourkela Road from L&T'. Sadbhav forayed into the road sector in 1995 and has established a good reputation for itself in the industry. The Company had acquired its first road project from the private sector, Reliance Industries Limited (RIL) in the year 1996. The work involved construction of roads in RIL's township and refinery site at Moti Khavdi, Jamnagar. During the year 1999, SEL awarded four work orders, of an approximate value of Rs. 151 crore from SSNNL for the construction of canals. SEL subsequently got converted into a Public Limited Company vide fresh Certificate of Incorporation dated 17th May 2001 and in 2002, completed the construction of its first ever canal siphon across river Vatrak. The Company was successful in won the contract for the excavation of overburden and lignite mining at Vastan Mines of Gujarat Industries Power Corporation Limited (GIPCL), which was completed in 2003. SEL had been awarded the Excellence Award by the Institute of Economic Studies (IES) in October of the year 2005. The Company entered into the capital market with a public issue in the year 2006 and in the same year, it secured projects from Government of Andhra Pradesh Irrigation and CAD Department. During the year 2006-07, The Company had secured three projects worth Rs. 216.35 crores in Andhra Pradesh, thus extending its reach beyond Gujarat. SEL had entered into joint venture with PBA Infrastructure Limited for Construction of Roads in Multi model International Hub Airport at Nagpur (MIHAN) Project Complex during the year 2006-07. The Cost of the project covers Rs. 14236.21 lacks of which company's shares includes Rs. 7118.10 lacks. Nagpur-Seoni Expressway project was started in September 2007, which an annuity based project with a concession period of 20 years including 30 months of construction period. During the year 2007-08, SEL had entered into a joint venture with JMC Project (India) Limited for the construction of new 4 lane Agra bypass in the state of Uttar Pradesh under Phase-II programme of North-South & East-West corridors. Commercial operations of the Ahmedabad ring road, the company's project began in May of the year 2008. Sadbhav Engineering, through its wholly-owned subsidiary had acquired 74% stake in Hong Kong-based Ocean Bright Corp, for an undisclosed sum during June 2008. During the year 2015-2016, Sadbhav Infrastructure Project Limited (SIPL), a subsidiary Company acquired 6% stake in Ahmedabad Ring Road Infrastructure Limited from Patel Infrastructure Private Limited. During the year 2015-2016, SIPL had acquired 60% stake in Dhule Palesner Tollway Limited from its existing shareholders, for making it 100% Subsidiary. The transfer of ownership formality which was pending as at March 31, 2016 has been completed on the date of this report. In 2018, the Company completed various projects of national significance in the sectors of Roads & Highways, Mining and Irrigation supporting infrastructure. It completed canal work for irrigation project - Sardar Sarovar Narmada Project. The Company's subsidiary, Sadbhav Infrastructure Project Ltd through the Share Purchase Agreement with inter alia IDBI Trusteeship Services Limited and LTIDPL INDVIT Services Limited transferred its holding in 8 SPVs namely Bijapur Hungund Tollway Private Limited, Aurangabad Jalna Tollway Limited, Hyderabad Yadgiri Tollway Private Limited, Dhule Palesner Tollway Limited, Nagpur Seoni Expressway Limited, Shreenathji Udaipur Tollway Private Limited, Bhilwara Rajsamand Tollway Private Limited and Mysore Bellary Highway Private Limited, to IndInfravit Trust in July, 2019 and the Trust now holds 100% of the total issued, subscribed and paid-up share capital of the above 8 SPVs, on a fully diluted basis in 2019. The Company completed a total of 46 projects in the transportation sector in which 43 of Highway Projects (out of which 11 are EPC projects, 11 BOT projects, 20 Item rate projects, and 1 Annuity project) and 3 are Metro Projects as on March 31, 2023. The irrigation division of the Company completed canal work over 819 km and the mining division has mined over 574 MN cubic meters as of March 31, 2023.