Gayatri Projects has received an amount of Rs 69.41 crore from its contractor Sunway Construction SDN, BDH, as settlement of its various claims raised by the Company on the contractor. The Company had executed a contract for rehabilitation and Upgrading of Kms 104 to Kms 170 of NH 25 to 4 lane in the State of Uttar Pradesh (Contract Package No -EW II UP -4) as a sub contract from Sunway Construction SDN, BDH. Sunway has raised a total claim of Rs 80 crore on NHAI and out of total amount received, the company's share was settled at Rs 70.78 crore and the net amount received by the company after statutory deductions is Rs 69.41 crore.
The company has also announced in the previous month, the receipt of Rs 208.00 crore under the GOI scheme of monetisation of 'under litigation arbitral award' against bank guarantees.
Gayatri Projects is the flagship company of the esteemed and well diversified Gayatri Group that has interests in infrastructure, power, hospitality, real estate and industry.
