MEP Infrast.

- The company is exploring innovative ways to access long-term, low-cost funding for TOT projects. - Additional loans may be raised but are expected to be compensated by their InVIT offering, leading to debt downsizing of around Rs.1,400 Crores. - The InVIT size is expected to be around Rs.1,400 Crores with no leverage initially; tax-efficient structures for fundraising will be disclosed in the DRHP by end of June 2017. - Preferential allotment or rights issue for raising equity funds is expected, potentially before year-end (2017), depending on market and order inflow. - Equity requirements for hybrid annuity projects (HAM) of about Rs.400 Crores will be funded over the next 2.5 years, partly through internal accruals and working capital optimization. - Discussions are underway with financial partners for funding TOT projects, possibly before bidding or alongside.

- Equity commitment of about Rs.400 Crores for six HAM projects, with Rs.200 Crores already invested and the balance over next 2.5 years. - Targeting to bid for additional HAM projects worth Rs.4,000 Crores to Rs.6,000 Crores staggered over time, implying further equity commitment. - Exploring long-term low-cost funding options for TOT projects; potential to include projects in InVIT for debt downsizing (~Rs.1,400 Crores reduction expected). - Evaluating pipeline of ~Rs.10,000 Crores worth of Hybrid Annuity projects to bid over next 2-3 months. - Discussing partnerships with financial investors for TOT project bidding and funding. - Building InvIT structure for Mumbai Entry Point asset listing expected before September 2017. Overall, strategic investments focus on hybrid annuity (HAM), TOT projects, and portfolio monetization via InvITs.

- The company expects to bid for hybrid annuity projects worth around Rs.10,000 Crores in the next 2-3 months (Page 7). - Targeting staggered bidding for HAM projects amounting to Rs.4,000 to Rs.6,000 Crores in FY2018 (Page 15). - EPC revenues expected to be in excess of Rs.1,200 Crores for FY2018, with Rs.3,836 Crores of projects to be completed in about 2.4 years (Page 6). - Toll collection revenues have seen a dip due to project completions and handbacks but are expected to revive, with new long-term TOT projects expected to be tendered in the next quarter or by year-end (Pages 8 and 13). - The business is exploring innovative long-term low-cost funding options, including InVIT structures, to support growth without excessive debt loading (Page 15). - The company expects operational and financial milestones on hybrid annuity projects to drive revenue growth from 2018 onwards (Page 10).

- The company expects strong growth driven by hybrid annuity projects (HAM) with a project cost of Rs.3,836 Crores and staggered equity infusion over 2.5 years. - Targeting to bid for additional HAM projects worth Rs.4,000 to 6,000 Crores in FY2018, expanding the project portfolio and earnings base. - Expected EPC revenue for FY2018 is around Rs.1,200 Crores, supporting top-line growth. - EBITDA margins on HAM projects are estimated between 12-14%, contributing stable operating profits. - The company plans to reduce debt by Rs.1,300-1,400 Crores via InVIT issuance, improving balance sheet and earnings quality. - Tolling revenues projected to grow after toll rate hike and operational extensions (e.g., Mumbai Entry Point). - Focus on low cost, long-term funding sources for TOT projects with expected favorable debt-equity ratios. - PAT margin improved to 6.3% in FY2017 from negative in FY2016, indicating profitability turnaround and future growth potential.

- Current orderbook includes hybrid annuity projects with a bid project cost of Rs. 3,836 Crores. - Six HAM (Hybrid Annuity Model) projects require equity commitment of Rs. 575 Crores in total. - Equity requirement for these projects is to be funded partly by JV partners (~Rs. 170 Crores) and partly by MEP (~Rs. 400 Crores). - Plans to bid for additional HAM projects worth Rs. 4,000 to Rs. 6,000 Crores staggered over FY2018. - TOT (Toll Operate Transfer) projects expected to be in the Rs. 800 to Rs. 1,200 Crores range, with bidding anticipated in Q2 FY2018 or by calendar year-end. - InVIT is expected to reduce consolidated debt by Rs. 1,300 to Rs. 1,400 Crores. - EPC revenues expected above Rs. 1,200 Crores in FY2018 from ongoing projects totaling about Rs. 4,000 Crores. - No significant new orders in short-term tolling currently; focus on long-term hybrid annuity and TOT projects.