IRB Infrastructure Developers Limited — Capital/Financing Update 2020

Feb 25, 2020

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Media Release:

IRB Infra bags prestigious Mumbai-Pune Expressway Project

Receives Letter of Acceptance (LoA) from the MSRDC for MumbaiPune Expressway and Old Mumbai Pune Highway Projects

• IRB to pay MSRDC upfront Rs. 6500 Crores and a further staggered payment of Rs. 850 Crores in year 2, Rs. 850 Crores in year 3 and Rs. 62 Crores in year 4, aggregating to Rs. 8,262 Crores for Sub-Concession Period of 10 years and 2 months;

• Concession includes Tolling & O & M of Mumbai Pune Expressway and Old Mumbai-Pune Highway

• Project Length is approx. 205.40 Kms. including Expressway and NH-48 section of Mumbai-Pune Corridor

• Possession and commencement of tolling w.e.f. 1[st] March 2020

• First project under Toll-Operate-Toll (TOT) model for Company

Mumbai, February 25, 2020: IRB Infrastructure Developers Ltd. (IRB), India’s leading and one of India’s largest highways infrastructure developers has been awarded the prestigious Mumbai-Pune Expressway project under the Toll-Operate-Toll (TOT) model.

The Company today received a Letter of Acceptance (LoA) from the nodal agency, MSRDC.

The Concession includes collection of toll and O & M activities on Mumbai Pune Expressway and Old Mumbai-Pune Highway NH-48 for a concession span of 10 years and 2 months, i.e., up to 30[th] April 2030.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “We are happy to have the prestigious MumbaiPune Expressway project once again in our project portfolio. We had rich experience of a decade and half in managing this project from 2004 to 2019 and hence feel that it will help us in managing the project well and meet the expectations of all stakeholders.” He further added, “We are grateful to all the authorities for recognizing Company’s rich domain expertise and experience and showing high trust in us by once again awarding this prestigious project. We will endeavour to excel in our operations and bring safer and smoother travel experience for users of the project.”

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IRB to pay upfront Rs. 6500 Crores and a further staggered payment of Rs. 850 Crores in year 2, Rs. 850 Crores in year 3 and Rs. 62 Crores in year 4, aggregating to Rs. 8,262 Crores for Sub-Concession Period of 10 years and 2 months;

The Company will take possession of the project w.e.f. 1[st] March 2020 and commence tolling and O & M activities.

The Company, as a Concessionaire of the MSRDC, will be abide by the user fees notifications issued by the MSRDC, which is a part of concession agreement.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India having strong track record of constructing over 12,600 lane Kms in 2 decades.

The Company has executed projects Pan-India with an ability to construct over 500 Kms in a year. It has approx. 20% share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

IRB Group’s portfolio comprises of 20 projects including 19 BOT and 1 HAM projects. BOT segment includes 7 operational projects, 5 projects under Tolling & Construction & 7 projects under O & M contracts as a Project Manager for IRB InvIT.

Company’s order book as on 31[st] December 2019 stands at approx. Rs.6,800 crores.

For further details, please contact:

• Vivek Devasthali, Head – Corporate Communications, 99300 80099, vivek.devasthali@irb.co.in

• Siddharth Kumar, Sr. Account Director, Adfactors PR, 99029 29187 Siddharth.kumar@adfactorspr.com

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