Ashoka Buildcon updates on SPV for Pune-Shirur Road Project

Receives an arbitral award aggregating Rs 89.81 crore

Ashoka Buildcon announced that one of its Wholly Owned Subsidiaries viz. Ashoka Infrastructure ("SPV"), which executed Pune-Shirur Road Project in the State of Maharashtra, has received an Arbitral Award aggregating Rs. 89.81 crore, against various claims filed by SPV. This amount will further receive an interest from 06 July 2015 till the date of payment.

The Project had been awarded by Government of Maharashtra, Executive Engineer, Public Works Department - World Bank Project Division. The toll collection at the said Project has been stopped since August 2014.

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