Man Infraconstruction announced that in relation to Arbitration Proceedings between its subsidiary Manaj Tollway and Public Works Department (PWD), Pune, Government of Maharashtra, the Hon'ble Arbitrator vide his award dated August 17, 2018 has directed Public Works Department (PWD), Pune, Government of Maharashtra to pay a sum of Rs 3.37 billion to Manaj Tollway.

Further as per Arbitral Award, interest @ 15% p.a. for the period from date of aforesaid Arbitral Award i.e. August 17, 2018 till the date of actual payment shall be payable by Public Works Department (PWD), Pune, Government of Maharashtra.

Manaj Tollway had given termination notice and invoked arbitration against Public Works Department (PWD), Pune, Government of Maharashtra in relation to the Project viz. Four Laning to Hadapsar- Saswad- Belsarphata SH 64 Km. 9.800 to 42.860 & Belha- Pabal- Uralikanchan- Jejuri- Nira SH 61 Km. 110.00 to 118.00 (Part Hadapsar to Jejuri M.I.D.C.), Taluka Purandar, District Pune on DBFOT basis (the Project).

Shares of the company declined Rs 0.15, or 0.32%, to trade at Rs 47.35. The total volume of shares traded was 153,072 at the BSE (10.34 a.m., Tuesday).