Letter of Award of EPC Contract for Township Development of First City at Nagpur, Maharashtra, India

IJM (India) Infrastructure Limited (“IJMII”) has been awarded a turnkey contract by Reatox Builders & Developers Pvt Ltd (“RBD”), India to design, construct, and market a total of 11 blocks of high rise residential and commercial development of approximately 3.3 million square feet on 31 acres of land at Nagpur, Maharashtra in India, for an estimated contract sum of Rs658 Crores (approximately RM555 million).

Phase 1 of the contract is estimated at Rs350 Crores (approximately RM295 million) and the development period is 27 months. Phase 2 comprise of 1.8 million square feet and the contract is estimated at Rs308 Crores (approximately RM260 million).

RBD is the developer company appointed by Maharashtra Airport Development Company Limited, India for the development. IJMII is a 97.3% subsidiary of IJMII (Mauritius) Limited, which is a wholly-owned subsidiary of IJM Investments (M) Limited, which in turn is a wholly-owned subsidiary of the Company.

None of the Directors nor substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the transaction.