Maytas Infra has announced that the Government of Andhra Pradesh
(GoAP) has awarded the concession for undertaking the development of
the Hyderabad Metro Rail (MRTS) project on Design, Build, Finance,
Operate and Transfer (the `DBFOT`) basis to its consortium
comprising Nava Bharat Ventures, Maytas Infra, Italian-Thai
Development Public Company and Infrastructure Leasing & Financial
Services (`NMII Consortium`).

The project will cover Line 1: Miyapur to L.B. Nagar with approx
length of 30 km; Line 2: Jubilee Bus Station to Falaknuma with
approx length of 15 km; and Line 3: Nagole to Shilparamam with
approx length of 26 km.

The metro project cost as per GoAP estimates is about Rs 120
billion. In addition, GoAP is also providing real estate development
rights for 18.5 million square feet.

NMII consortium emerged as the lowest bidder for the project. NMII
consortium agreed to pay to the GoAP over a 34 year period an amount
which has a Net Present Value of Rs 124 billion based on a discount
rate used by GoAP of 13.5%.

The concession agreement to be entered into between GoAP and the
NMII consortium is based on an Initial concession period of 35 years
and a possible extension in concession period of 25 years. As per
the draft concession agreement, the project has to be constructed
over a five and half year development period.

As per the bid submitted, Maytas Infra will hold 26%, Nava Bharat
Ventures will hold 27%, ItalianThai Development Public Company will
hold 5% and Infrastructure Leasing & Financial Services will hold 5%
in the proposed special purpose company to be incorporated for
implementation of the project.

GoAP would subscribe to equity of Rs 2.5 billion and balance equity
would be arranged for suitably.

Shares of Maytas Infra gained Rs 15.9, or 3.9%, to trade at Rs
423.95. The total volume of shares traded was 27,782 at the BSE
(1.31 p.m., Monday).

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