We wish to inform you that, M/s. Sunway Construction SDN. BHD has informed the company that they won Arbitral Award of Rs. 94,92,20,372 (Rupees Ninty Four Crores Ninty Two Lakhs Twenty Thousand Three Hundred and Seventy Two Only) in the matter of arbitration between M/s. Sunway Construction SDN. BHD and National Highway Authority of India, with regard to: Rehabilitation and Upgrading of Km 104.00 to 170.000 of NH-25 to 4-lane, configuration in the state of Uttar Pradesh- Package No.EWII-UP-4.
Gayatri had acted as nominated official sub-contractor to M/s. SUNWAY CONSTRUCTIONS and executed upto 45% of the work. Gayatris share of the arbitration award will be fully utilized towards reducing debt and improving balance-sheet leverage. This is in line with our corporate strategy of pushing ahead with an asset-light business model and significantly reducing balance-sheet leverage over next 2 years.
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