The scope includes deployment of 12 patrol-cum-safety vehicles and requisite personnel to manage toll operations and safety services along the expressway in accordance with the RFQ-cum-RFP documents, subsequent addenda and the draft contract agreement. UPEIDA is a domestic authority and the engagement has been awarded as a Letter of Award for user fee collection and O&M of toll plazas. The Company will perform responsibilities as per the contractual terms and compliance requirements specified by the Authority.

Financially the contract amount is payable as per the schedule set out in the RFQ-cum-RFP and is inclusive of all taxes and service charges, if any. The amount payable in year one is Rs 1.80 billion (bn) and the amount for year two, incorporating a 10 per cent escalation, is Rs 1.98 billion (bn), with escalation applicable on a year-on-year basis. The total accepted value therefore aggregates to Rs 3.78 billion (bn) for the primary two-year tenure.

The Company has confirmed that promoters, promoter group and group companies have no interest in the Authority and that the contract does not constitute a related party transaction. The Letter of Award has been filed with the stock exchange pursuant to listing obligations and the matter has been signed off by the company secretary for regulatory record. Operations will commence in accordance with the commencement dates and mobilisation schedule detailed in the contract.