GR Infraprojects Limited has successfully completed the transfer of three wholly owned subsidiaries to Indus Infra Trust on March 25, 2026. The infrastructure company received the full consideration amount and completed all regulatory formalities for the divestment of its highway project assets.

Transaction Completion Details

The company has confirmed receipt of consideration from Indus Infra Trust and completed the transfer of GR Bilaspur Urga Highway Private Limited (GBUHPL), GR Ujjain Badnawar Highway Private Limited (GUBHPL), and GR Ena Kim Expressway Private Limited (GEKEPL). With effect from March 25, 2026, all three entities have ceased to be wholly owned subsidiaries of GR Infraprojects Limited.

Financial Impact Assessment

The divested subsidiaries represented a significant portion of GR Infraprojects' consolidated operations as of March 31, 2025. The three entities collectively contributed ₹167,813.47 lakhs to consolidated income, representing 22.69% of total income, and ₹20,609.69 lakhs to consolidated net worth, accounting for 2.43% of total net worth.

Regulatory Compliance and Structure

The transaction was structured as an arms' length deal with Indus Infra Trust, identified as a related party located at Seventh Floor, GR One Tower, Plot No. 7B, Sector 18, Gurugram, Haryana-122015. The trust does not belong to the promoter or promoter group of GR Infraprojects Limited.

GR Ena Kim Expressway Private Limited, being classified as a material subsidiary, required shareholder approval which was obtained through postal ballot on March 20, 2026. The other two subsidiaries did not require such approval as they were not classified as material subsidiaries.

Strategic Implications

The completed divestment represents a strategic restructuring of GR Infraprojects' asset portfolio, allowing the company to monetize its highway project investments. The transaction has been disclosed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring full regulatory compliance and transparency for all stakeholders.

GR Infraprojects Limited has officially received the Letter of Award (LOA) from the National Highways Authority of India for a significant highway construction project worth ₹2440.87 crores. The company announced this development to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following their earlier emergence as the lowest bidder (L-1) for the prestigious infrastructure project.

Project Award Details

The LOA dated March 23, 2026, confirms the award of the 4-lane greenfield section construction of National Highway-33 (NH-33) from Mokama to Munger in Bihar state. This follows the company's announcement as L-1 bidder on March 18, 2026, after the financial bid opening process.

Implementation Framework

The project will be executed under the Hybrid Annuity Mode (HAM), which is a public-private partnership model commonly used for highway projects in India. Under this arrangement, the concessionaire receives a portion of the project cost from the government during the construction phase, with the remaining amount paid through annuity payments over the operational period.

Regulatory Compliance and Communication

GR Infraprojects has maintained full transparency by informing both BSE Limited and National Stock Exchange of India Limited about this development. The company's communication, signed by Company Secretary Sudhir Mutha (ICSI Membership No. ACS18857), ensures compliance with regulatory requirements. The company has committed to provide updates on any further developments related to this project.

Strategic Significance

This project award represents a substantial addition to GR Infraprojects' order book, reinforcing the company's position in India's highway construction sector. The NH-33 corridor is strategically important for connecting various regions in Bihar and enhancing transportation infrastructure in the state. The 910-day completion timeline indicates the project's scale and complexity, requiring significant resource deployment and project management capabilities from the infrastructure company. The formal LOA receipt marks the transition from bidder selection to project execution phase.