GPT Infraprojects limited — Interim / Quarterly Report 2022

Nov 3, 2021

ANATHA BANDHABA CHAKRABARTTY

Digitally signed by ANATHA BANDHABA CHAKRABARTTY Date: 2021.11.03 13:56:08 +05'30'

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

Independent Auditor’s Review Report on Unaudited Standalone Quarterly and year to date financial results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors of GPT Infraprojects Limited

1. We have reviewed the accompanying statement of unaudited standalone financial results of GPT Infraprojects Limited (‘the Company’) which includes twenty five (25) joint operations consolidated on a proportionate basis for the quarter ended September 30, 2021 and for the year-to-date period from April 1,2021 to September 30, 2021 (‘the Statement’) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (‘the Regulation’). This statement is the responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility is to express a conclusion based on our review.

2. This Statement has been prepared by the Company’s Management in accordance with the recognition and measurement principles laid down in Ind AS 34 ‘Interim Financial Reporting’, prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410,“Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether standalone financial results are free of material misstatements. A review consists of making inquiries, primarily of person responsible for financial and accounting matters, and applying analytical and other review procedure. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

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Signed by Puneet Agarwal Date: 2021.11.03 13:26:08

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:44:45 +05'30'

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

1. The Statement includes the results of the joint operations listed in Attachment A

2. Basis for Qualified Conclusion:

3. i. The Company has recognized unbilled revenue and accrued price escalations aggregating Rs. 1,884.89 lacs, on certain completed construction contracts, which are yet to be billed/ realized by the Company and are outstanding for more than three years. Due to unavailability of sufficient appropriate audit evidence to corroborate management’s assessment of recoverability of the above said amounts, we are unable to comment on the recoverability of the same. No provision with respect to the same has been made in the books of account.

This matter was also qualified in our standalone review report /audit report pertaining to the quarter and six months period ended on September 30, 2020, quarter ended June 30, 2021 and year ended March 31, 2021 vide our report dated November 5, 2020, August 3, 2021 and June 21, 2021 respectively.

1. Based on our review conducted as above and procedures performed as stated in paragraph 3 above and on consideration of review reports on the financial information of the joint operations as mentioned in paragraph 8 below, with the exception of the matter described in the paragraph 5 and the effects thereon , nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited standalone financial results prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulation including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We draw attention to the following matters to the unaudited standalone financial results–

3. a. i. Note 4(a) of the unaudited standalone financial results which states that there are uncertainties on recoverability of Company's share of unbilled revenue, trade and other receivables aggregating Rs. 1,636.80 lacs in respect of two joint operations, wherein the underlying projects have been completed and as represented to us, the management of such joint operations have initiated arbitration proceedings for recovery of dues.

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Signed by Puneet Agarwal Date: 2021.11.03 13:26:08

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:45:06 +05'30'

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

ii. Note 4(a) of the unaudited standalone financial results which states that there are uncertainties on recoverability of trade and retention receivables aggregating Rs. 246.60 lacs in respect of certain completed construction contracts where the management has initiated arbitration proceedings for recovery of dues.

• b. Note 4(b) of the unaudited standalone financial results which states that a petition is filed by a customer in the Hon'ble High Court of Delhi against award of Rs. 6,120.32 lacs declared by Arbitration Tribunal in favour of a subsidiary of the Company and the consequent uncertainty on recoverability of net assets aggregating Rs. 2,019.75 lacs as on September 30, 2021. The said award was in relation to an EPC (Engineering, Procurement and Construction) contract received by the Company from its subsidiary in an earlier year, whose execution was discontinued by the Company pursuant to termination of concession agreement between the subsidiary and its customer .

Our conclusion on the statement is not modified in respect of these matters.

1. We did not review the interim financial results of four (4) joint operations included in the unaudited standalone financial results of the Company, whose results reflect Company’s share of total assets of Rs 1,040.54 lacs as on September 30, 2021, total revenues of Rs. 979.32 lacs and Rs 1,991.38 lacs, total net profit after tax of Rs. 46.88 lacs and Rs 97.78 lacs and total comprehensive income of Rs. 46.88 lacs and Rs 97.78 lacs for the quarter ended September 30, 2021 and for the period from April 1,2021 to September 30, 2021 respectively, and cash flows (net) of Rs. (53.97) lacs for the period from April 1, 2021 to September 30, 2021, as considered in the respective unaudited standalone financial results of the entities included in the Company. The interim financial results of these joint operations have been reviewed by other auditors whose reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the statement is not modified in respect of this matter.

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Signed by Puneet Agarwal Date: 2021.11.03 13:26:08

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 13:45:22 +05'30' KHETAN

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

1. The unaudited standalone financial results include the interim financial results of twenty one (21) joint operations, which have not been reviewed by their auditors and is certified by the management, whose results reflect Company’s share of total assets of Rs 4,276.07 lacs as at September 30, 2021 and total revenues of Rs. 296.31 lacs and Rs 495.92 lacs, total net profit after taxes of Rs 13.21 lacs and Rs 23.03 lacs and total comprehensive income of Rs 13.21 lacs and Rs 23.03 lacs for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021 respectively, and cash flow (net) of Rs 41.36 lacs for the period from April 1, 2021 to September 30, 2021 as considered in the respective unaudited standalone financial results of the entities included in the Company. According to the information and explanations given to us by the Management, these interim financial information are not material to the Company.

Our conclusion on the Statement is not modified in respect of the above matter.

For MSKA & Associates Chartered Accountants ICAI Firm Registration Number: 105047W

Signed by Puneet Agarwal Date: 2021.11.03 13:26:08 Puneet Agarwal Partner Membership No. :064824 UDIN: 21064824AAAADK6427

For SN KHETAN & ASSOCIATES Chartered Accountants

ICAI Firm Registration Number: 325653E

Digitally signed by SANJAY KUMAR SANJAY KUMAR KHETAN KHETAN Date: 2021.11.03 13:45:40 +05'30'

Sanjay Kumar Khetan Partner Membership No. :058510 UDIN: 21058510AAAAEM7246

Place: Kolkata Date: 3[rd] November 2021

Place: Kolkata Date: 3[rd] November 2021

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

Attachment A: List of joint operations

Sr. No. Name of entities 1 G R (JV) 2 GEO Foudation & Structures Pvt. Ltd. & GPT Infraprojects LTD. (JV) 3 GPT - BHARTIA JV 4 GPT - Freyssinet (JV) 5 GPT - GEO-UTS(JV) 6 GPT - GVV (JV) 7 GPT - MADHAVA (JV) 8 GPT - RAHEE (JV) 9 GPT - RANHILL (JV) 10 GPT - SMC (JV) 11 GPT-TRIBENI(JV) 12 GPT-ABCI (JV) 13 GPT - BALAJI (JV) 14 GPT - BALAJI-RAWATS (JV) 15 GPT-CVCC-SLDN(JV) 16 GPT-GEO (JV)_Cochin 17 GPT-ISC Projects (JV) 18 GPT-MBPL (JV) 19 GPT-SKY (JV) 20 GPT-SSPL (JV) 21 HARI-GPT (JV) 22 JMC - GPT (JV) 23 NCDC-GPT (JV) 24 PREMCO - GPT (JV) 25 RAHEE - GPT (JV)

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Signed by Puneet Agarwal Date: 2021.11.03 13:26:08

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:46:07 +05'30'

GPT INFRAPROJECTS LIMITED Registered Office : GPT Centre, JC - 25, Sector - III, Salt Lake, Kolkata - 700 106 CIN - L20103WB1980PLC032872, Website - gptinfra.in, Email: gil.cosec@gptgroup.co.in, Phone - 033 - 4050 7000

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STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021.

||(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|
|---|---|---|---|---|---|---|
|P a r t i c u l a r s|Quarter Ended|||Half Year Ended||Year Ended|
||30.09.2021|30.06.2021|30.09.2020|30.09.2021|30.09.2020|31.03.2021|
||Reviewed|Reviewed|Reviewed|Reviewed|Reviewed|Audited|
|Income from operations
Revenue from operations
Other Income
Total revenue (I)
Expenses
Cost of materials consumed
- Raw Materials
- Materials for construction / other contracts
Payment to sub-contractors
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Total expenses (II)
Profit before tax [((III) = (I) – (II)]
Tax expenses / (credits)
Current tax
Deferred tax expense / (credit) (Net of MAT Credit)
Total tax expenses (IV)
Profit for the period [(V) = (III) – (IV)]
- Income tax effect thereon (VII)
Total Comprehensive Income [(VIII) = (V) + (VI) + (VII)]
Paid-up equity share capital of face value of**10/- each**<br>**Other equity**<br>Basic and Diluted *(Not Annualised)<br>Other Comprehensive income not to be reclassified to profit or loss in<br>subsequent periods (VI)<br>Changes in inventories of finished goods and stock-in-trade<br>Other expenses<br>**Earnings per equity share (nominal value of**10/- each)|12,848.69
171.70|11,680.39
95.48|13,260.43
164.64|24,529.08
267.18|20,608.50
453.20|57,307.86
891.13|
||13,020.39|11,775.87|13,425.07|24,796.26|21,061.70|58,198.99|
||2,857.45
2,922.83
2,895.00
(566.86)
921.23
951.83
370.57
2,008.37|1,059.72
2,818.78
3,748.46
(459.38)
882.24
906.20
374.47
1,800.82|1,926.13
3,263.17
3,990.68
(278.95)
723.63
1,108.78
452.62
1,662.68|3,917.17
5,741.61
6,643.46
(1,026.24)
1,803.47
1,858.03
745.04
3,809.19|2,710.85
5,151.97
6,211.93
(532.27)
1,339.76
2,063.47
902.77
2,527.77|5,724.32
13,486.04
20,671.31
416.40
2,909.78
3,849.64
1,697.25
6,480.96|
||12,360.42|11,131.31|12,848.74|23,491.73|20,376.25|55,235.70|
||659.97|644.56|576.33|1,304.53|685.45|2,963.29|
||84.24
137.04|231.50
(15.01)|105.41
87.52|315.74
122.03|142.44
83.92|917.47
(11.51)|
||221.28|216.49|192.93|437.77|226.36|905.96|
||438.69
-
-
|428.07
-
-|383.40
-
-|866.76
-
-|459.09
-
-|2,057.33
24.56
(7.15)|
||438.69|428.07|383.40|866.76|459.09|2,074.74|
||2,908.60|2,908.60|2,908.60|2,908.60|2,908.60|2,908.60|
|||||||17,881.30|
||1.51|1.47|1.32|2.98|1.58*|7.07|

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Signed by Puneet Agarwal Date: 2021.11.03 13:02:08

DWARIKA Digitally signed by DWARIKA SANJAY Digitally signed PRASAD PRASAD TANTIA Date: 2021.11.03 by SANJAY TANTIA 12:37:35 +05'30' KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:24:48 +05'30'

STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2021

||(**in lacs)**|**(**in lacs)|
|---|---|---|
|P a r t i c u l a r s|As at|As at|
||30.09.2021|31.03.2021|
||Reviewed|Audited|
|ASSETS
A) NON-CURRENT ASSETS
a)
Property, plant and equipments
b)
Right of use assets
c)
Capital work-in-progress
d)
Other intangible assets
e)
Contract assets
f)
Financial assets
(i) Investments
(ii) Investments in a subsidiary held for sale
(iii) Investment in a Joint Venture
(iv) Trade receivables
(v) Loans
(vi) Other non-current financial assets
g)
Deferred tax assets (net)
h)
Other non current assets
Total Non-Current Assets (A)
B) CURRENT ASSETS
a)
Inventories
b)
Contract assets
c)
Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Bank balances other than (ii) above
(iv) Loans
(v) Other current financial assets
d)
Other current assets
Total Current Assets (B)
Total Assets (A+B)
EQUITY AND LIABILITIES
C) EQUITY
a)
Equity share capital
b)
Other equity
Total Equity (C)
LIABILITIES
D) NON-CURRENT LIABILITIES
a)
Contract liabilities
b)
Financial liabilities
(i) Borrowings
(ia) Lease liabilities
(ii) Trade payables
c)
Long term provisions
Total Non-Current Liabilities (D)
E) CURRENT LIABILITIES
a)
Contract liabilities
b)
Financial liabilities
(i) Borrowings
(ia) Lease liabilities
(ii) Trade payables
(iii) Other current financial liabilities
c)
Short term provisions
d)
Other current liabilities
Total Current Liabilities (E)
Total Liabilities (F = D+E)
Total Equity and Liabilities(C+F)
- Total outstanding dues of micro enterprises and small
enterprises
- Total outstanding dues of micro enterprises and small
enterprises
- Total outstanding dues of creditors other than micro
enterprises and small enterprises
- Total outstanding dues of creditors other than micro
enterprises and small enterprises|6,593.46
519.28
334.18
6.58
3,220.38
1,478.89
-
2,415.39
438.04
15.22
1,710.44
165.41
2,340.82|6,688.85
595.38
72.66
12.44
3,291.75
1,478.89
144.00
2,415.39
688.42
29.28
1,412.32
287.44
2,376.10|
||
19,238.09|19,492.92|
||8,408.50
26,760.98
6,591.96
221.59
1,700.49
156.08
701.40
2,908.26|6,712.81
25,241.28
7,668.43
247.15
1,817.86
160.21
580.22
4,635.22|
||
47,449.26|47,063.18|
||
66,687.35|66,556.10|
||2,908.60
18,457.20|2,908.60
17,881.30|
||
21,365.80|20,789.90|
||1,868.09
2,868.52
446.38
-
1,297.42
472.26|1,434.95
3,234.43
522.96
-
1,087.21
449.26|
||6,952.67|6,728.81|
||1,945.41
21,444.40
149.55
10.08
13,370.19
686.66
210.18
552.41|2,839.75
21,934.36
141.70
18.81
12,849.69
655.50
199.55
398.03|
||38,368.88|39,037.39|
||45,321.55|45,766.20|
||66,687.35|66,556.10|

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Signed by Puneet Agarwal Date: 2021.11.03 13:02:08

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:25:17 +05'30'

Dwarika Digitally signed by Dwarika Prasad Prasad Tantia Date: 2021.11.03 Tantia 12:38:05 +05'30'

STANDALONE CASH FLOW STATEMENT FOR HALF YEAR ENDED SEPTEMBER 30, 2021

P a r t i c u l a r s		For Half Year Ended	For Half Year Ended
		30.09.2021	30.09.2020
		Reviewed	Reviewed
A. Cash Flow from Operating Activities Profit before tax Adjustment for : Depreciation & amortization expenses (Profit) / Loss on sale / discard of fixed assets (net) Interest income on deposits from Banks / loans, advances etc. Dividend income on investment in subsidiary / joint venture company Gain on buyback of investments Profit on sale of investment in shares of a subsidiary Unspent liabilities / provisions no longer required written back Provision for / (Reversal of) expected credit loss Interest expenses Operating Profit before working capital changes (Increase) / Decrease in Contract assets Decrease in Trade receivables (Increase) / Decrease in Other financial assets Decrease / (increase) in Other assets (Increase) in Inventories (Decrease) in Contract liabilities Increase / (Decrease) in Trade payables Increase / (Decrease) in Financial liabilities (Decrease) in Other liabilities Increase in Provisions Cash Generated from operations Taxes paid (net of tax refund) Net Cash flow from Operating Activities B. Cash Flow from Investing Activities Repayment of loans from / (Loans to) employees Proceeds from buyback of shares by a subsidiary Proceeds from sale of investment in shares of a subsidiary Interest received Dividend received (Investment in ) / Proceeds from Investment in margin money deposits Net Cash (used in) / from Investing Activities C. Cash flow from Financing Activities Long Term Borrowings received Long Term Borrowings repaid (repayment of) / Proceeds from Cash Credit (Net) Proceeds from short term borrowings Repayment of short term borrowings Principle repayment of lease liability Interest paid on lease laibility Dividend paid Interest paid Net Cash (used in) Financing Activities Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at end of theperiod Purchase of property, plant and equipment and intangible assets (including capital work in progress) (net of realisation on sales)	(A) (B) (C)	1,304.53 745.04 (0.62) (69.25) (130.56) - (21.00) (33.28) 178.01 1,858.03	685.45 902.77 - (85.42) - (49.12) - (70.74) (220.87) 2,102.67
		3,830.90 (1,589.10) 1,289.61 (85.24) 1,868.58 (1,695.69) (461.20) 742.07 37.96 (86.05) 33.63	3,264.74 1,019.73 3,862.16 209.56 (978.80) (987.26) (354.50) (4,365.49) (200.07) (138.80) 14.15
		3,885.47 (414.08)	1,345.42 (196.09)
		3,471.39	1,149.33
		18.19 (596.16) - 165.00 54.32 129.33 (200.53)	(10.18) (135.22) 83.93 - 68.62 - 378.04
		(429.85)	385.19
		365.26 (532.28) (219.95) 9,055.83 (9,524.71) (68.73) (38.18) (290.58) (1,813.76)	1,511.40 (595.96) (1,519.98) 6,669.11 (5,381.38) (47.96) (39.20) (435.62) (1,687.46)
		(3,067.10)	(1,527.05)
		(25.56) 247.15	7.47 143.59
		221.59	151.06

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Signed by Puneet Agarwal Date: 2021.11.03 13:02:08

SANJAY Digitally signed by SANJAY DWARIKA Digitally signed KUMAR KHETAN by DWARIKA KUMAR PRASAD PRASAD TANTIA Date: 2021.11.03 Date: 2021.11.03 13:25:33 +05'30' TANTIA 12:38:25 +05'30' KHETAN

STANDALONE SEGMENT REVENUE, RESULTS AND ASSETS & LIABILITIES

||(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|
|---|---|---|---|---|---|---|
|P a r t i c u l a r s|Quarter Ended|||Half Year Ended||Year Ended|
||30.09.2021|30.06.2021|30.09.2020|30.09.2021|30.09.2020|31.03.2021|
||Reviewed|Reviewed|Reviewed|Reviewed|Reviewed|Audited|
|1 Segment Revenue
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Unallocated
Total
Less: Inter - Segment Revenue
Revenue from operations
2 Segment Results
Profit / (Loss) Before Taxes & Finance Costs
(a)
Infrastructure
(b)
Concrete Sleeper
Total
Less: Unallocated expenditure net of Income
Less: Finance Costs
Total Profit Before Taxes
3 Segment Assets
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Unallocated
Total
4 Segment Liabilities
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Unallocated
Total|9,566.66
3,252.61
29.42|10,162.05
1,492.48
25.86|10,635.04
2,613.81
11.58|19,728.71
4,745.09
55.28|16,873.34
3,723.58
11.58|48,014.36
9,407.66
48.23|
||12,848.69
-|11,680.39
-|13,260.43
-|24,529.08
-|20,608.50
-|57,470.25
162.39|
||12,848.69|11,680.39|13,260.43|24,529.08|20,608.50|57,307.86|
||1,791.92
65.58|1,582.74
138.75|1,689.06
134.06|3,374.66
204.33|2,769.01
262.92|6,821.87
428.29|
||1,857.50
245.69|1,721.49
170.73|1,823.12
138.01|3,578.99
416.42|3,031.93
283.01|7,250.16
437.23|
||1,611.81
951.84|1,550.76
906.20|1,685.11
1,108.78|3,162.57
1,858.04|2,748.92
2,063.47|6,812.93
3,849.64|
||659.97|644.56|576.33|1,304.53|685.45|2,963.29|
||47,882.60
11,441.68
7,363.07|48,737.67
10,953.09
7,542.74|43,579.59
9,809.58
10,276.90|47,882.60
11,441.68
7,363.07|43,579.59
9,809.58
10,276.90|46,713.05
11,937.06
7,905.99|
||66,687.35|67,233.50|63,666.07|66,687.35|63,666.07|66,556.10|
||16,551.56
2,682.61
26,087.38|17,926.78
1,402.35
26,686.40|15,915.97
2,016.31
26,123.25|16,551.56
2,682.61
26,087.38|15,915.97
2,016.31
26,123.25|16,346.26
2,277.12
27,142.82|
||45,321.55|46,015.53|44,055.53|45,321.55|44,055.53|45,766.20|

• 1 The above unaudited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 03, 2021. The said results have also been reviewed by the statutory auditors of the Company.

• 2 The above standalone results are also available on the Company's website www.gptinfra.in and on the stock exchange websites (www.bseindia.com.and www.nseindia.com).

• 3 The Company is currently focused on Two Operating Segments : Infrastructure and Concrete Sleeper. The Operating Segments have been reported in the manner consistent with internal reporting provided to the Chief Operating Decision Maker.

• 4 The statutory auditors of the Company have drawn emphasis of matter in their limited review report regarding;

• (a) Uncertainty of recovery of Company’s share of unbilled revenue, trade and other receivables aggregating 1,636.80 lacs from two joint operations customer and 246.60 lacs from one Company customer, wherein the underlying projects were completed in prior years and the management of the joint operations and the Company have initiated arbitration proceedings for recovery of aforesaid receivables. The Management believes that the outcome of arbitration will be favourable to the Joint Operations and the Company in the respective matters and hence no provision is considered necessary in these standalone financial results.

• (b) During earlier years, the Arbitration Tribunal had awarded a sum of 6,120.32 lacs in favour of Jogbani Highway Private Limited (the subsidiary) under a BOT contract awarded by National Highway of India (the Customer). The subsidiary had subcontracted aforesaid BOT contract to the Company. The customer has filed petition in Hon’ble High Court of Delhi against the award declared by Arbitration Tribunal in favour of the subsidiary. The Hon'ble High Court of Delhi has granted liberty to the subsidiary to withdraw the amount of 3,000.00 lacs deposited by the customer against submission of a suitable security. The management believes that the outcome of the dispute would be in favour of the subsidiary, and hence no provision has been considered necessary in these standalone financial results towards recoverability of net assets of ` 2,019.75 lacs.

• 5 In earlier years, the Company has completed execution of certain construction contracts under the terms of agreements with customers. Unbilled revenue, accrued price escalation and trade receivables aggregating 1,884.89 lacs (March 31, 2021 : 2,079.44 lacs) are yet to be received by the Company in respect of such contracts due to paucity of funds available with those customers. The statutory auditors of the Company have modified their review report in this regard. Based on regular follow ups with those customers, management is confident that the aforesaid amount is fully recoverable and hence no provision is considered necessary against these receivables in these standalone financial results.

• 6 There were no items in the nature of exceptional / extra - ordinary / discontinued operations during the respective periods reported above. 7 This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

• 8 Previous period's / year figures have been regrouped / rearranged wherever considered necessary to conform to the current period's / year classification.

==> picture [31 x 41] intentionally omitted <==

Place : Kolkata Date : November 03, 2021

For and on behalf of Board of Directors

Signed by Puneet Agarwal Date: 2021.11.03 SANJAY Digitally signed DWARIKA Digitally signed by DWARIKA PRASAD 13:02:08 by SANJAY PRASAD TANTIA KUMAR KUMAR KHETAN Date: 2021.11.03 Date: 2021.11.03 TANTIA 12:38:50 +05'30' KHETAN 13:25:52 +05'30' D. P. Tantia Chairman DIN - 00001341

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

Independent Auditor’s Review Report on Unaudited Consolidated Quarterly and year to date financial results of the Group pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors of GPT Infraprojects Limited

1. We have reviewed the accompanying statement of unaudited consolidated financial results of GPT Infraprojects Limited (‘the Holding Company’), its subsidiaries, (the Holding Company and its subsidiaries together referred to as the ‘Group’) and its share of the net profit after tax and total comprehensive income of its Joint Ventures for the quarter ended September 30, 2021 and for the year to date period from April 1, 2021 to September 30, 2021 (‘the Statement’), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (‘the Regulation’). This statement is the responsibility of the Holding Company’s Management and has been approved by the Holding Company’s Board of Directors. Our responsibility is to express a conclusion based on our review.

2. This Statement has been prepared by the Holding Company’s Management in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ‘Interim Financial Reporting’ (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the consolidated financial results are free of material misstatement. A review of consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the Subsidiaries, Joint Venture and Joint Operations listed in Attachment A.

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Signed by Puneet Agarwal Date: 2021.11.03 13:30:27

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:46:51 +05'30'

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

1. Basis for Qualified Conclusion:

   • i. The Holding Company has recognised unbilled revenue and accrued price escalations aggregating Rs. 1,884.89 lacs, on certain completed construction contracts, which are yet to be billed / realized by the Company and are outstanding for more than three years. Due to unavailability of sufficient appropriate audit evidence to corroborate management’s assessment of recoverability of the above said amounts, we are unable to comment on the recoverability of the same. No provision with respect to the same has been made in the books of account. This matter was also qualified in our consolidated review report /audit report pertaining to the quarter and six months period ended on September 30, 2020, quarter ended June 30, 2021 and year ended March 31, 2021 vide our report dated November 5, 2020, August 3, 2021 and June 21, 2021 respectively.

2. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors as referred to in paragraph 8 below, with the exception of the matter described in the paragraph 5 and the effect thereon , nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of the Regulation including the manner in which it is to be disclosed, or that it contains any material misstatement.

3. We draw attention to the following matters to the unaudited consolidated financial results:

4. a) i. Note 4 (a) of the unaudited consolidated financial results which states that there are uncertainty on recoverability of Group's share of unbilled revenue, trade receivables, other receivables, advances and other assets aggregating Rs. 1,636.80 lacs in respect of two joint operations, wherein the underlying projects have been completed and as represented to us, the management of such joint operations have initiated arbitration proceedings for recovery of dues.

   • ii. Note 4 (a) of the unaudited consolidated financial results which states that there are uncertainties on recoverability of trade and retention receivables aggregating Rs. 246.60 lacs in respect of certain completed construction contracts where the Holding Company’s management has initiated arbitration proceedings for recovery of dues.

5. b) Note 4 (b) of the unaudited consolidated financial results which states that a petition is filed by a customer in the Hon'ble High Court of Delhi against award of Rs. 6,120.32 lacs declared by Arbitration Tribunal in favour of the group and the consequent uncertainty on recoverability of net assets aggregating Rs. 1,761.31 lacs as on September 30, 2021. The said award was in relation to an EPC (Engineering, Procurement and Construction) contract received by the Holding Company from

==> picture [34 x 63] intentionally omitted <==

Signed by Puneet Agarwal Date: 2021.11.03 13:30:27

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:47:10 +05'30'

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

its subsidiary in an earlier year, whose execution was discontinued by the Group pursuant to termination of concession agreement between the subsidiary and its customer .

Our conclusion on the statement is not modified in respect of these matters.

2. a) We did not review the interim financial results of four (4) joint operations included in the standalone unaudited financial results of the entities included in the Group, whose results reflect Group’s share of total assets of Rs of 1,040.54 lacs as on September 30, 2021 and total revenues of Rs. 979.32 lacs and Rs 1,991.38 lacs, total net profit after tax of Rs. 46.88 lacs and Rs 97.78 lacs, total comprehensive income of Rs. 46.88 lacs and Rs 97.78 lacs for the quarter ended September 30, 2021 and for the period from April 1,2021 to September 30, 2021 respectively, and cash flows (net) of Rs. (53.97) lacs for the period from April 1,2021 to September 30,2021, as considered in the respective standalone unaudited financial results of the entities included in the Group. The interim financial results of these joint operations have been reviewed by other auditors whose reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

• b) We did not review the interim financial results of one (1) subsidiary included in the unaudited consolidated financial results, whose results reflect Group’s share of total assets of Rs 5,127.09 lacs, as on September 30, 2021 and total revenues of Rs. (6.38) lacs and Rs 466.60 lacs (before consolidation adjustments), total net loss after tax of Rs. (253.64) lacs and Rs (356.98) lacs (before consolidation adjustments) and total comprehensive loss of Rs. (253.64) lacs and Rs (356.98) lacs (before consolidation adjustments) for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021 respectively, and cash flows (net) of Rs. (49.66) lacs for the period from April 1,2021 to September 30, 2021, as considered in the unaudited consolidated financial results. The interim financial results of this subsidiary have been reviewed by other auditors whose reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

• c) The unaudited consolidated financial results includes the interim financial results of two (2) subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total assets of Rs 5,359.21 lacs as at September 30, 2021 and total revenue of Rs. 177.91 and Rs 177.91 (before consolidation adjustments), total net profit after tax of Rs. 44.72 lacs and Rs 112.46 lacs (before consolidation adjustments) and total comprehensive income of Rs. 44.72 lacs and Rs 112.46 lacs (before consolidation adjustments) for the quarter ended September 30, 2021, and for the period from April 1,2021 to September 30, 2021 respectively, and cash flows (net) of Rs. 0.02

==> picture [29 x 55] intentionally omitted <==

SANJAY Digitally signed by SANJAY KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:47:31 +05'30'

Signed by Puneet Agarwal Date: 2021.11.03 13:30:27

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

lac for the period from April 1, 2021 to September 30, 2021, as considered in the unaudited consolidated financial results. The unaudited consolidated financial results also includes the Group’s share of net profit after tax of Rs. 123.67 lacs and Rs 182.86 lacs and total comprehensive income of Rs. 123.67 and Rs 182.86 lacs for the quarter ended September 30, 2021, and for the period from April 1,2021 to September 30, 2021 respectively, as considered in the unaudited consolidated financial results, in respect of a Joint Venture, based on their interim financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

• d) The unaudited consolidated financial results includes the interim financial results of twenty one (21) joint operations included in the standalone unaudited financial results of the entities included in the Group, which have not been reviewed by their auditors and certified by the management, whose interim financial results reflect Company’s share of total assets of Rs 4,276.07 lacs as at September 30, 2021 and total revenue of Rs. 296.31 lacs and Rs 495.92 lacs, total net profit after taxes of Rs 13.21 lacs and Rs 23.03 lacs and total comprehensive income of Rs 13.21 lacs and Rs 23.03 lacs for the quarter ended September 30, 2021 and for the period from April 1, 2021 to September 30, 2021 respectively, and cash flow (net) of Rs 41.36 lacs for the period from April 1, 2021 to September 30, 2021 as considered in the respective standalone unaudited financial results of the entities included in the Group. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For MSKA & Associates For SN KHETAN & ASSOCIATES Chartered Accountants Chartered Accountants ICAI Firm Registration Number: 105047W ICAI Firm Registration Number: 325653E SANJAY Digitally signed by Signed by SANJAY KUMAR Puneet Agarwal KUMAR KHETAN Date: 2021.11.03 Date: 2021.11.03 13:30:27 KHETAN 13:47:48 +05'30' Puneet Agarwal Sanjay Kumar Khetan Partner Partner Membership No. :064824 Membership No. :058510 UDIN: 21064824AAAADL2289 UDIN: 21058510AAAAEN1066 Place: Kolkata Place: Kolkata Date: 3[rd] November 2021 Date: 3[rd] November 2021

Chartered Accountants Chartered Accountants Floor 4, Duckback House, 4[th] 41, Shakespeare Sarani 59B, Chowringhee Road Kolkata – 700 017, India Kolkata – 700 020, India

Attachment A: List of subsidiaries, a joint venture and joint o erations p

Sr. No.	Name of entities
	Subsidiaries
1	GPT Investments Private Limited,Mauritius
2	GPT Concrete Products South Africa(Pty.)Limited,South Africa
3	Jogbani HighwayPrivate Limited
	Joint Venture
1	GPT – Transnamib Concrete Sleepers(Pty.)Limited,Namibia
	Joint Operations
1	GR(JV)
2	GEOFoudation& StructuresPvt.Ltd. & GPT InfraprojectsLTD. (JV)
3	GPT - BHARTIAJV
4	GPT - Freyssinet (JV)
5	GPT -GEO-UTS(JV)
6	GPT -GVV (JV)
7	GPT -MADHAVA(JV)
8	GPT - RAHEE(JV)
9	GPT - RANHILL(JV)
10	GPT -SMC (JV)
11	GPT-TRIBENI(JV)
12	GPT-ABCI(JV)
13	GPT - BALAJI(JV)
14	GPT - BALAJI-RAWATS (JV)
15	GPT-CVCC-SLDN(JV)
16	GPT-GEO (JV)_Cochin
17	GPT-ISCProjects (JV)
18	GPT-MBPL(JV)
19	GPT-SKY(JV)
20	GPT-SSPL(JV)
21	HARI-GPT(JV)
22	JMC-GPT(JV)
23	NCDC-GPT(JV)
24	PREMCO-GPT(JV)
25	RAHEE -GPT(JV)

==> picture [29 x 39] intentionally omitted <==

Signed by Puneet Agarwal SANJAY Digitally signed Date: 2021.11.03 by SANJAY 13:30:27 KUMAR KUMAR KHETAN Date: 2021.11.03 KHETAN 13:48:08 +05'30'

GPT INFRAPROJECTS LIMITED

Registered Office : GPT Centre, JC - 25, Sector - III, Salt Lake, Kolkata - 700 106 CIN - L20103WB1980PLC032872, Website - gptinfra.in, Email: gil.cosec@gptgroup.co.in, Phone - 033 - 4050 7000

==> picture [71 x 20] intentionally omitted <==

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021.

||(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|
|---|---|---|---|---|---|---|
|P a r t i c u l a r s|Quarter Ended|||Half Year Ended||Year Ended|
||30.09.2021|30.06.2021|30.09.2020|30.09.2021|30.09.2020|31.03.2021|
||Reviewed|Reviewed|Reviewed|Reviewed|Reviewed|Audited|
|Income from operations
Revenue from operations
Other Income
Total revenue (I)
Expenses
Cost of materials consumed
- Raw Materials
- Materials for construction / other contracts
Payment to sub-contractors
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Total expenses (II)
Profit before tax [(III) = (I-II)]
Tax expenses / (credits)
Current tax
Deferred tax expense / (credit) (Net of MAT Credit)
Total tax expenses (IV)
Profit before share of jointly controlled entity [(V) = (III) - (IV)]
Share of profit of jointly controlled entity (VI)
Profit for the year before Non - Controling Interest [(VII) = (V) +(VI)]
Non - Controlling Interest (VIII)
' - Income tax effect thereon
' - Income tax effect thereon
Other Comprehensive Income (net of tax) (X)
- attributable to Owners of the Company
- attributable to Non- Controlling Interest
Paid - up equity share capital of face value of**10/- each**<br>**Other equity**<br>Basic and diluted *(Not Annualised)<br>- Re-Measurement gains on defined benefit plans<br>**Earnings Per Share (of**10/- each)
Total Comprehensive income before Non - Controlling Interest
[(XI) = (VII) +(X)]
Changes in inventories of finished goods and stock-in-trade
Other comprehensive income to be reclassified to profit or loss in
subsequent periods
- Exchange difference on translation of Foreign Operation
Other expenses
Net Profit for the period [(IX) = (VII) +(VIII)]
Other comprehensive Income not to be reclassified to profit or loss in
subsequent periods|12,841.33
57.68|12,153.37
95.93|14,325.02
282.64|24,994.70
153.61|22,416.05
572.93|60,923.74
600.16|
||12,899.01|12,249.30|14,607.66|25,148.31|22,988.98|61,523.90|
||2,866.93
2,922.83
2,895.00
(543.23)
946.92
972.14
505.42
2,103.36|1,311.67
2,818.78
3,748.46
(519.24)
995.14
922.55
517.35
1,914.43|2,773.57
3,263.17
3,990.68
(616.66)
856.12
1,131.97
575.22
1,853.09|4,178.60
5,741.61
6,643.46
(1,062.47)
1,942.06
1,894.69
1,022.77
4,017.79|4,163.62
5,151.97
6,211.93
(1,140.95)
1,543.85
2,103.74
1,149.43
2,793.89|8,257.06
13,486.04
20,671.31
(181.53)
3,404.81
3,926.92
2,228.34
6,752.60|
||12,669.37|11,709.14|13,827.16|24,378.51|21,977.48|58,545.55|
||229.64|540.16|780.50|769.80|1,011.50|2,978.35|
||85.71
37.42|233.59
(55.21)|107.80
127.39|319.30
(17.79)|147.62
131.76|935.69
61.26|
||123.13|178.38|235.19|301.51|279.38|996.95|
||106.51
123.67|361.78
59.19|545.31
7.33|468.29
182.86|732.12
(5.58)|1,981.40
66.62|
||230.18
(79.37)|420.97
(32.04)|552.64
31.92|651.15
(111.41)|726.54
37.98|2,048.02
26.42|
||309.55
-
-
(149.96)
-
|453.01
-
-
365.12
-|520.72
-
-
154.31
-|762.56
-
-
215.16
-|688.56
-
-
276.46
-|2,021.60
24.56
(7.15)
347.69
-|
||(149.96)|365.12|154.31|215.16|276.46|365.10|
||80.22|786.09|706.95|866.31|1,003.00|2,413.12|
||159.59
(79.37)|818.13
(32.04)|675.03
31.92|977.72
(111.41)|965.02
37.98|2,386.70
26.42|
||2,908.60|2,908.60|2,908.60|2,908.60|2,908.60|2,908.60|
|||||||21,075.03|
||1.02|1.56|1.79|2.62|2.37*|6.95|

==> picture [54 x 66] intentionally omitted <==

Signed by Puneet Agarwal Date: 2021.11.03 13:08:10

DWARIKA Digitally signed SANJAY Digitally signed by DWARIKA by SANJAY PRASAD PRASAD TANTIA KUMAR KUMAR KHETAN Date: 2021.11.03 Date: 2021.11.03 TANTIA 12:39:26 +05'30' KHETAN 13:22:55 +05'30'

CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES FOR SIX MONTH ENDED SEPTEMBER 30, 2021

||(**in lacs)**|**(**in lacs)|
|---|---|---|
|P a r t i c u l a r s|As at|As at|
||30.09.2021|31.03.2021|
||Reviewed|Audited|
|ASSETS
A) NON-CURRENT ASSETS
a)
Property, plant and equipments
b)
Right of use assets
c)
Capital work-in-progress
d)
Goodwill on consolidation
e)
Other Intangible assets
f)
Contract assets
g)
Financial assets
(i) Investment in a Joint Venture
(ii) Trade receivables
(iii) Loans
(iv) Other financial assets
h)
Deferred tax assets (net)
i)
Other non current assets
Total Non-Current Assets (A)
B) CURRENT ASSETS
a)
Inventories
b)
Contract assets
c)
Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Bank balances other than (ii) above
(iv) Loans
(v) Other financial assets
d)
Other current assets
Total Current Assets (B)
Total Assets (A+B)
EQUITY AND LIABILITIES
C) EQUITY
a)
Equity share capital
b)
Other equity
c)
Non- Controlling Interest
Total Equity (C)
LIABILITIES
D) NON-CURRENT LIABILITIES
a)
Contract liabilities
b)
Financial liabilities
(i) Borrowings
(ia) Lease liabilities
(ii) Trade payables
c)
Long term provisions
d)
Deferred tax liabilities (net)
Total Non-Current Liabilities (D)
E) CURRENT LIABILITIES
a)
Contract liabilities
b)
Financial liabilities
(i) Borrowings
(ia) Lease liabilities
(ii) Trade payables
(iii) Other current financial liabilities
c)
Short term provisions
d)
Other current liabilities
Total Current Liabilities (E)
Total Liabilities (F = D+E)
Total Equity and Liabilities(C+F)
- Total outstanding dues of micro enterprises and small enterprises
- Total outstanding dues of creditors other than micro enterprises and
- Total outstanding dues of creditors other than micro enterprises and
small enterprises
- Total outstanding dues of micro enterprises and small enterprises|9,149.93
519.28
334.18
581.13
6.58
3,220.38
2,636.59
438.04
15.22
2,053.31
-
2,330.15|9,582.96
595.38
72.66
579.73
12.44
3,291.75
2,584.29
688.42
29.28
1,758.88
378.25
2,375.51|
||
21,284.79|21,949.55|
||10,950.37
26,760.98
6,725.83
274.04
1,700.48
156.08
601.22
2,911.20|9,401.10
25,241.29
8,263.59
250.11
1,817.87
249.73
511.27
4,688.29|
||
50,080.20|50,423.25|
||
71,364.99|72,372.80|
||2,908.60
21,761.89
161.72|2,908.60
21,075.03
273.41|
||
24,832.21|24,257.04|
||1,868.09
2,868.52
446.38
-
1,297.42
472.26
3.71|1,434.95
3,234.43
522.96
-
1,087.21
449.26
399.82|
||6,956.38|7,128.63|
||1,945.41
22,516.99
149.55
10.08
13,406.18
744.36
210.18
593.65|2,839.75
23,055.32
141.70
18.81
13,604.34
699.65
199.55
428.01|
||39,576.40|40,987.13|
||46,532.78|48,115.76|
||71,364.99|72,372.80|

==> picture [47 x 56] intentionally omitted <==

Signed by Puneet Agarwal Date: 2021.11.03 13:08:10

SANJAY Digitally signed by SANJAY DWARIKA Digitally signed by DWARIKA KUMAR KUMAR KHETAN PRASAD PRASAD TANTIA Date: 2021.11.03 TANTIA Date: 2021.11.03 12:39:44 +05'30' KHETAN 13:23:20 +05'30'

CONSOLIDATED CASH FLOW STATEMENT FOR HALF YEAR ENDED SEPTEMBER 30, 2021

P a r t i c u l a r s	For Half Year Ended	For Half Year Ended
	30.09.2021	30.09.2020
	Reviewed	Reviewed
A. Cash Flow from Operating Activities Profit before tax (including share of profit of a joint venture) Adjustment for : Depreciation & amortization expenses Profit on sale / discard of fixed assets (net) Interest income on deposits from Banks / loans, advances etc. Unspent liabilities / provisions no longer required written back Provision for / (reversal of) expected credit loss Loss / (Gain) on foreign exchange fluctuations Interest expenses Operating Profit before working capital changes (Increase) / Decrease in Contract assets Decrease in Trade receivables (Increase) / Decrease in Other financial assets Decrease / (Increase) in Other assets (Increase) in Inventories (Decrease) in Contract liabilities Increase / (Decrease) in Trade payables Increase / (Decrease) in Financial liabilities (Decrease) in Other liabilities Increase in Provisions Cash Generated from operations Taxes paid (net of tax refund) Net Cash flow from Operating Activities (A) B. Cash Flow from Investing Activities Repayment of loans from / (Loans to) Bodies Corporate and Employees Interest received (Investment in )/ Repayment of investment from a joint venture Investment in / (Proceeds from maturity of) margin money deposits Net Cash from / (used in) Investing Activities (B) C. Cash flow from Financing Activities Long Term Borrowings received Long Term Borrowings repaid Proceeds from / (repayment of) Cash Credit (Net) Proceeds from short term borrowings Repayment of short term borrowings Principle repayment of lease liability Interest paid on lease laibility Dividend paid Interest paid Net Cash (used in) Financing Activities (C) Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at end of the period Purchase of property, plant and equipment and intangible assets (including capital work in progress) (net of realisation on sales)	952.66 1,022.77 (0.62) (84.36) (33.28) 178.01 213.47 1,894.69	1,005.92 1,149.43 - (91.99) (70.74) (220.87) 452.25 2,142.94
	4,143.34 (1,589.09) 1,750.90 (79.96) 1,920.12 (1,549.27) (461.20) 23.43 47.23 (234.44) 33.63	4,366.94 1,019.73 4,063.54 219.52 (932.18) (1,564.75) (354.50) (4,612.66) (239.25) (191.80) 14.15
	4,004.69 (409.04)	1,788.74 (346.16)
	3,595.65	1,442.58
	107.71 (363.43) 97.84 (52.30) (200.51)	(10.18) (263.24) 68.91 - 378.04
	(410.69)	173.53
	365.25 (614.16) (186.44) 9,055.83 (9,524.71) (68.73) (38.18) (299.47) (1,850.42)	1,511.40 (681.71) (1,443.04) 6,669.11 (5,381.38) (47.96) (39.20) (435.62) (1,724.77)
	(3,161.03)	(1,573.17)
	23.93 250.11	42.94 176.76
	274.04	219.70

==> picture [51 x 60] intentionally omitted <==

Signed by Puneet Agarwal Date: 2021.11.03 13:08:10

SANJAY Digitally signed DWARIKA Digitally signed by SANJAY by DWARIKA PRASAD PRASAD TANTIA KUMAR KUMAR KHETAN Date: 2021.11.03 Date: 2021.11.03 TANTIA 12:40:00 +05'30' KHETAN 13:23:38 +05'30'

CONSOLIDATED SEGMENT REVENUE, RESULTS AND ASSETS & LIABILITIES

||(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|(**in lacs)**|**(**in lacs)|
|---|---|---|---|---|---|---|
|P a r t i c u l a r s|Quarter Ended|||Half Year Ended||Year Ended|
||30.09.2021|30.06.2021|30.09.2020|30.09.2021|30.09.2020|31.03.2021|
||Reviewed|Reviewed|Reviewed|Reviewed|Reviewed|Audited|
|1 Segment Revenue
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Unallocated
Total
Add: Inter - Segment revenue
Revenue from operations
2 Segment Results
Profit / (Loss) Before Taxes & Interest
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Others
Total
Less: Unallocated expenditure net of Income
Less : Finance costs
Total Profit Before Taxes
3 Segment Assets
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Others
(d)
Unallocated
Total
4 Segment Liabilities
(a)
Infrastructure
(b)
Concrete Sleeper
(c)
Others
(d)
Unallocated
Total|9,566.66
3,245.25
29.42|10,162.05
1,965.46
25.86|10,635.04
3,678.40
11.58|19,728.71
5,210.71
55.28|16,873.34
5,531.13
11.58|48,014.36
13,023.54
48.23|
||12,841.33
-|12,153.37
-|14,325.02
-|24,994.70
-|22,416.05
-|61,086.13
162.39|
||12,841.33|12,153.37|14,325.02|24,994.70|22,416.05|60,923.74|
||1,788.13
(179.24)
(30.86)|1,582.72
102.34
(51.62)|1,689.00
435.04
(76.63)|3,370.85
(76.90)
(82.48)|2,768.91
748.15
(125.09)|6,820.94
1,210.23
(312.07)|
||1,578.03
376.25|1,633.44
170.73|2,047.41
134.94|3,211.47
546.98|3,391.97
276.73|7,719.10
813.83|
||1,201.78
972.14|1,462.71
922.55|1,912.47
1,131.97|2,664.49
1,894.69|3,115.24
2,103.74|6,905.27
3,926.92|
||229.64|540.16|780.50|769.80|1,011.50|2,978.35|
||48,253.16
16,568.77
706.67
5,836.39|49,111.94
16,557.89
761.37
5,897.98|43,955.01
15,288.01
966.35
9,123.47|48,253.16
16,568.77
706.67
5,836.39|43,955.01
15,288.01
966.35
9,123.47|47,087.24
18,459.66
277.66
6,548.24|
||71,364.99|72,329.18|69,332.84|71,364.99|69,332.84|72,372.80|
||16,551.91
2,751.19
66.01
27,163.67|17,927.04
1,509.25
35.89
27,801.34|15,916.67
2,546.41
40.39
27,568.47|16,551.91
2,751.19
66.01
27,163.67|15,916.67
2,546.41
40.39
27,568.47|16,346.49
3,055.38
41.38
28,672.51|
||46,532.78|47,273.52|46,071.94|46,532.78|46,071.94|48,115.76|
|Standalone Information :
(a)
Revenue from operations
(b)
Profit before taxes
(c)
Profit after taxes|12,848.69
659.97
438.69|11,680.39
644.56
428.07|13,260.43
576.33
383.40|24,529.08
1,304.53
866.76|20,608.50
685.45
459.09|57,307.86
2,963.29
2,057.33|

• 1 The above unaudited consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 03, 2021. The said results have also been reviewed by the statutory auditors of the Company.

• 2 The above consolidated results are also available on the Group's website www.gptinfra.in and on the stock exchange websites (www.bseindia.com and nseindia.com).

• 3 The Group is currently focused on two Operating Segments : Infrastructure and Concrete Sleeper. The Operating Segments have been reported in the manner consistent with internal reporting provided to the Chief Operating Decision Maker.

• 4 The statutory auditors of the Group have drawn emphasis of matter in their limited review report regarding;

• (a) Uncertainty of recovery of Holding Company’s share of unbilled revenue, trade and other receivables aggregating 1,636.80 lacs from two joint operations customer and 246.60 lacs from one Company customer, wherein the underlying projects were completed in prior years and the management of the joint operations and the Company have initiated arbitration proceedings for recovery of aforesaid receivables. The Management believes that the outcome of arbitration will be favourable to the Joint Operations and the Company in the respective matters and hence no provision is considered necessary in these consolidated financial results.

• (b) During earlier years, the Arbitration Tribunal had awarded a sum of 6,120.32 lacs in favour of Jogbani Highway Private Limited (the subsidiary) under a BOT contract awarded by National Highway of India (the Customer). The subsidiary had subcontracted aforesaid BOT contract to the Company. The customer has filed petition in Hon’ble High Court of Delhi against the award declared by Arbitration Tribunal in favour of the subsidiary. The Hon'ble High Court of Delhi has granted liberty to the subsidiary to withdraw the amount of 3,000.00 lacs deposited by the customer against submission of a suitable security. The management believes that the outcome of the dispute would be in favour of the subsidiary, and hence no provision has been considered necessary in these consolidated financial results towards recoverability of net assets of ` 1,761.31 lacs.

• 5 In earlier years, the Holding Company has completed execution of certain construction contracts under the terms of agreements with customers. Unbilled revenue, accrued price escalation and trade receivables aggregating 1,884.89 lacs (March 31, 2021 : 2,079.44 lacs) are yet to be received by the Company in respect of such contracts due to paucity of funds available with those customers. The statutory auditors of the Company have modified their review report in this regard. Based on regular follow ups with those customers, management is confident that the aforesaid amount is fully recoverable and hence no provision is considered necessary against these receivables in these consolidated financial results.

• 6 There were no items in the nature of exceptional / extra - ordinary / discontinued operations during the respective periods reported above. 7 This statement is as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

• 8 Previous period's / year figures have been regrouped / rearranged wherever considered necessary to conform to the current period's / year classification.

For and on behalf of Board of Directors

Signed by Puneet Agarwal Date:2021.11.03 SANJAY Digitally signed by SANJAY DWARIKA Digitally signed by DWARIKA PRASAD 13:08:10 KUMAR KUMAR KHETAN Date: 2021.11.03 PRASAD TANTIA TANTIA Date: 2021.11.03 12:40:40 +05'30' KHETAN 13:23:59 +05'30' D. P. Tantia Place Kolkata Chairman Date November 03, 2021 DIN - 00001341