Ashoka Buildcon update on SPV - Ashoka Bagewadi Saundatti Road

Ashoka Buildcon announced the declaration of 01 October 2018 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of Karnataka Road Development Corporation ('KRDCL') executed by its Subsidiary viz. Ashoka Bagewadi Saundatti Road ('SPV'), entitling the SPV to receive annuity payments.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payment from KRDCL within six months from the date of achievement of COD i.e. six months from 01 October 2018.

The Company also announces that the said SPV has received a Provisional Completion Certificate for completion of 55.85 KMs out of total Project Length of 63.285 KMs of the Project viz. PROJECT NO. WCP 1 : Design, Build, Finance, Operate, Maintain and Transfer (DBFOMT) of Existing State Highway Bagewadi (NH-4)-Bailhongal - Saundatti in the State of Karnataka on DBFOMT Annuity Basis.

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