About Us

Our Company was incorporated in July 2002 and since then, we have gradually increased our execution capabilities in terms of size of the projects. One of our initial road projects that we executed for the Punjab Public Works Department, Ludhiana division, was awarded in 2006 with an aggregate project cost of ₹ 62.94 million for 20.42 lane km. In 2014, we were awarded the first four lane highway EPC project from NHAI for 24.08 lane km with a project cost of ₹ 378.10 million and the most recent four lane elevated corridor EPC project, which consists of one of the longest four lane elevated corridor portion of 14.26 kms in India as per CARE Report, was awarded by NHAI with a project cost of ₹ 19,693.90 million and total length of 100.32 lane km. As on the date we are eligible to bid for single NHAI EPC projects up to a value of ₹ 35,000.00 million and for single NHAI HAM projects up to a value of ₹ 32,000.00 million. we have been empanelled to participate with the Delhi Metro Rail Corporation Limited in its upcoming tenders involving inter alia construction of railways, mega bridges and tunnels in India and abroad and also with a public sector undertaking for highways, bridges and tunnel construction work in north-eastern states of India, and such empanelment is mutually extendable. our Company has completed over 34 projects, including 16 EPC and one HAM project, in the roads and highways sector. Currently, our Company has 15 ongoing projects, including 11 EPC projects and four HAM projects which includes elevated corridors, bridges, flyovers, rail over bridges, tunnels, expressway, runway and multi-lane highways. In addition to undertaking operation and maintenance (“O&M”) activities in accordance with our contractual obligations under the EPC/HAM concession agreements, we have also undertaken independent O&M projects. Further, we have also undertaken in the past and continue to undertake sub-contracting projects. Our Order Book, as on January 31, 2024, nine months ended December 31, 2023 and Fiscals 2023, 2022 and 2021, amounted to ₹ 92,064.23 million, ₹ 117,166.70 million, ₹ 1,08,090.43 million, ₹ 63,461.30 million and ₹ 19,808.40 million, respectively. As on January 31, 2024, projects awarded by NHAI contributed 81.72% to our Order Book. Our other public sector clients include Indian Railway Construction International Limited (“IRCON”), Military Engineer Services (“MES”) and Bihar State Road Development Corporation Limited (“BSRDCL”). Our Book to Bill Ratio as of December 31, 2023 and Fiscals ended March 31, 2023, March 31, 2022 and March 31, 2021 was 5.62, 5.23, 5.60 and 2.27 times, respectively. One of the key drivers for economic growth is the increased infrastructure investment thrust by the Government of India. In the Union Budget for Fiscal 2025, the Government of India continued its focus on infrastructure development with budget estimates of capital expenditure towards the infrastructure sector of ₹ 11,111 billion. (Source: CARE Report). Furthermore, continuous efforts by the Government of India to make the business environment convenient to operate and streamline the regulatory process will support the growth of investments in the infrastructure segment (Source: CARE Report). We have demonstrated our ability to execute projects on or ahead of schedule in the past and we believe that we have the requisite capabilities and expertise to take advantage of the industry’s growth. Over the years, our Company has become an infrastructure construction company with experience in undertaking specialized structural work such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways and has a reputation of delivering quality projects. We have a consistent track-record of execution of projects either on time or ahead of schedule. We believe that our efficient project execution capabilities have enabled us to execute projects in a timely manner, and in certain cases before the stipulated timelines, while maintaining requisite quality standards. As on the date of this Draft Red Herring Prospectus, we have completed seven EPC projects on or before the scheduled completion date and we have already received bonus payments for early completion for two EPC projects. For details, see “- Strong project management and established track record of timely execution” below. The first HAM project undertaken by us i.e., Malout-Abohar Project, was also completed 214 days ahead of its scheduled completion date.We have a successful track-record in executing projects of different sizes ranging from 20.42 lane km to 260.00 lane km in terms of length. As on December 31, 2023, we have constructed over 1,739.88 lane kms of roads and highways, which also includes specialized structures such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. As on December 31, 2023, we have 1,488.17 lane kms of ongoing projects. As on December 31, 2023, we have completed 2,158.72 lane kms of O&M projects. For our EPC and HAM projects, the scope of our services typically includes design and engineering of the project, procurement of raw materials, project execution at site with overall project management up to the commissioning of these projects. Our employee resources and fleet of owned equipment, some of which are under buyback arrangements, and rental equipment, together with our engineering skills and capabilities, enable us to execute a range of projects. We have an experience of executing projects across diverse geographic locations in India with varying degrees of complexities such as construction in high-traffic and high-density areas, construction of tunnels in hilly terrain and slope protection and rock fall protection due to high rainfall and involving specialised structures such as tunnels, bridges and elevated roads. We have diversified our geographical presence in construction and development and execution of major multi-lane highway projects with specialised structures in various states of India, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Delhi, Maharashtra and Bihar. Our projects were spread across six states in Fiscal 2021, and we expanded to ten states by Fiscal 2023. As on date of this Draft Red Herring Prospectus, our projects are spread across ten states in India. Set forth below is a graphical representation of our geographic presence across various states in India.Our Company has been awarded the “Gold Award” at the National Highways Excellence Award, 2020 by the Ministry of Road Transport and Highways, Government of India for Excellence in Project Management for Khemkaran-Amritsar Project and the “Special Award” at National Highways Excellence Awards, 2021 by the Ministry of Road Transport and Highways, Government of India for outstanding work in challenging condition for Ramdas Gurdaspur Project, including the Kartarpur Sahib Project. While we execute a majority of our projects ourselves or through our Subsidiaries, we also form project-specific joint ventures, special purpose vehicles with other infrastructure and construction companies. In particular, when a project requires us to partner to meet specific eligibility requirements in relation to certain projects, including requirements relating to specific types of experience and financial resources, we enter into such partnerships with other infrastructure and construction companies. As on the date of this Draft Red Herring Prospectus, we have nine Subsidiaries (including five direct Subsidiary and four indirect Subsidiaries) and eight Joint Ventures, for the purpose of execution of projects. In addition, during our ordinary course of business we also enter into joint operations agreements with other parties for the purposes of participating in the bidding process. We are led by our individual Promoter and Managing Director, Ramneek Sehgal, who has more than 20 years of experience in the construction industry. We have a dedicated management team with a strong understanding of 175 the industry that enables us to effectively identify and take advantage of market opportunities. We believe that the experience of our senior management team has significantly contributed to our success and growth.