The Company had submitted its Bid with the National Highways Authority of India ("NHAI") for Four Laning of Kiratpur to Ner-Chowk Section of NH-21 from Km 73.200 to Km 186.500 in the State of Himachal Pradesh to be executed as BOT (Toll) on DBFOT pattern under NHDP Phase – III (the "Project"). The Project is on Toll basis with a concession period of 28 years including construction period of 3 years and the estimated cost of the Project is ` 1,818.47 Crores. The Company had quoted a grant of Rs. 134.57 Crores for Project We would like to inform you that the bids were opened by NHAI and the Company has emerged as the Lowest Bidder for the aforesaid Project.