The Company had submitted its Bid with the National Highways Authority of India ("NHAI") for Rehabilitation, Strengthening and Four Laning of Udhampur to Ramban Section of NH-1A, from Km 67.00 to Km 89.00 and Km 130.00 to Km 151.00 on Design, Build, Finance & Operation basis in the State of Jammu & Kashmir (the "Project"). The Project is on Annuity basis with a concession period of 20 years including construction period of 3 years and the estimated cost of the Project is Rs. 971 Crores.

We would like to inform you that the bids were opened today by NHAI and the Company has emerged as the Lowest Bidder for the aforesaid Project. The Company has quoted a semi-annual Annuity of Rs. 131 Crores for Project.