SADBHAV INFRA PROJ LTD.

Sadbhav Infrastructure Project Limited was incorporated as an asset holding company for road and other Infrastructure BOT projects on January 18, 2007. The Company obtained a Certificate for Commencement of Business on February 7, 2007. Company is among India's leading infrastructure developers specializing in roadways and highways. It enjoys robust in-house of Operation and Maintenance (O&M)- across all its business verticals: 1. Build Operate Transfer (BOT) 2. Hybrid Annuity Model (HAM) Over the years, the Company has developed rich in-house expertise in O&M verticals. The Company's clients primarily comprise government agencies such as NHAI, AUDA, PWD, among others. SEL, the corporate promoter for the company has an established track record of executing projects and experience of over 30 years in construction activities in the transport, mining and irrigation sectors since its incorporation in 1988. SIPL enjoys the benefit of being present in the entire value chain of BOT roads projects thereby reducing reliance on third parties and also increasing the profitability by retaining the margins. Traffic (for BOT (Toll) projects) and EPC consultants are appointed to carry out detailed study of the traffic growth (for BOT (Toll) projects) and the road structure and In-house financial and traffic (for BOT (Toll) projects) estimates of the assets are arrived at before helping in submitting rational bids for the assets. Lenders are approached for achievement of Financial Closure (FC) of the project and then EPC contractors are finalized before the appointed date and initial work on the project is carried out. The Company came up with a public issue of 47,733,659 equity shares of Rs 10 each by raising funds aggregating to Rs 491.66 crores, comprising a fresh issue of 41,262,135 equity shares aggregating to Rs 425 crore and the offer for sale of 3,235,762 equity shares aggregating to Rs 66.66 crore in September, 2015. During the year 2015-2016 (FY 2016), SIPL acquired 100% stake in Dhule Palesner Tollway Limited from HCC Concessions Limited, John Laing Investments Limited, John Laing Investments Mauritius (No.1) Limited and Sadbhav Engineering Limited. The transfer formalities for 2,10,46,680 shares from HCC and 1,40,31,020 shares from Sadbhav Engineering Limited were in process as at 31 March 2016. Sadbhav Nainital Highway Private Limited, Sadbhav Rudrapur Highway Private Limited were incorporated as wholly owned subsidiary of the company on 1st May, 2016. Sadbhav Bhavnagar Highway Private Limited was incorporated as wholly owned subsidiary of the company on 20th June, 2016. Sadbhav Una Highway Private Limited was incorporated as wholly owned subsidiary of the company on 22nd June, 2016. These four wholly owned subsidiaries were incorporated with an object to execute highway projects as per the concessions agreements signed with NHAI. In terms of Memorandum of Understanding (MOU) dated January 17, 2017 between SIPL and SEL, SEL reduced its commitment, to sell investment in Maharashtra Border Check Post Network Ltd. (MBCPNL) to third party, from 22% to 9% and resultantly, transferred such 13% ownership / beneficial ownership in MBCPNL to the Company, raising Company's holding to 91%. During the financial year ended 31 March 2017 (FY 2017), SIPL completed refinancing amounting to Rs 2204 crores in 5 BOT operational SPVs and tied up Rs 266 crore of debt for first major maintenance due between FY16 to FY 18. In FY 2017, SIPL won 7 Hybrid Annuity Mode (HAM) projects of the length 1550 lane kilometers worth Rs 5807 crore. With these HAM projects, the company's strategy is to diversify and also to have a portfolio mix which consists of toll and annuity projects. In FY 2017, Bhilwara-Rajsamand Tollway Private Limited (BRTPL) and Rohtak-Hissar Tollway Private Limited (RHTPL) received completion certificate and already started generating revenues. During the financial year ended 31 March 2018 (FY 2018), SIPL submitted the bids for 27 HAM projects of length 1547 kms of total project costs of Rs 30151 crores. Out of these 27 bids, the company has won 5 projects, L2 in 8 projects, L3 in 7 projects and more than L3 in balance projects. After end of the financial year 2017-18, three new wholly owned subsidiary companies i.e. Sadbhav Bhimasar Bhuj Highway Private Limited, Sadbhav Kim Expressway Private Limited and Sadbhav Vizag Port Road Private Limited were incorporated with an object to execute highway projects as per the concessions agreements signed with NHAI and Sadbhav Hybrid Annuity Projects Limited was incorporated for providing, developing, own, maintain, operate, instruct, execute, carry out, improve, construct, repair, work, administer, manage, control or acquire, any infrastructure facilities, to undertake hybrid annuity mode projects. The Company and Adani Road Transport Limited (ARTL) executed Share Purchase Agreement (SPA) on August 16, 2021, for sale of its equity shares of Maharashtra Border Check Post Network Limited (MBCPNL) a wholly owned subsidiary of the Company, out of which 49% shares were acquired by ARTL. The Company has 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) as on March 31, 2025.