Welspun Enterprises Incorporates Wholly Owned Subsidiary for Pune-Shirur Highway Project

Welspun Enterprises Limited has incorporated a wholly owned subsidiary, Welspun Pune Shirur Projects Limited, on May 09, 2026. The development was disclosed to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The newly incorporated entity is registered in the State of Maharashtra and has been assigned the Corporate Identity Number U42101MH2026PLC471308.

New Subsidiary at a Glance

The key details of the incorporation, as disclosed under Regulation 30, are summarised below:

Parameter: Details Name of Subsidiary: Welspun Pune Shirur Projects Limited Date of Incorporation: May 09, 2026 CIN: U42101MH2026PLC471308 Registered State: Maharashtra Authorised & Paid-Up Capital: Rs. 1,00,000/- (10,000 equity shares of Rs. 10/- each) Shareholding: 100% held by Welspun Enterprises Limited Consideration: 100% subscription to share capital in cash Industry: Infrastructure / Construction Services Turnover/Business Status: Yet to commence business/operations

Purpose and Project Scope

The subsidiary has been incorporated specifically to execute a significant infrastructure project in Maharashtra. The project involves the construction of a 6-Lane Partially Elevated Highway Corridor along with improvement of the existing road from Km. 10+600 to Km. 64+000, covering the Pune to Shirur section of NH-753F, with a minimum design length of 53.40 Km. The project is to be undertaken on DFBOT (Toll) Mode.

This project falls within the infrastructure and construction services sector, which is consistent with the core line of business of Welspun Enterprises Limited. No governmental or regulatory approvals are required for the incorporation itself, and the transaction does not constitute a related party transaction, given that the entity is a newly incorporated wholly owned subsidiary.

Disclosure and Compliance

The intimation was submitted in accordance with SEBI Master Circular No. HO/49/14/14(7)2025 CFD-POD2/1/3762/2026 dated January 30, 2026. The Certificate of Incorporation was received by the Company on May 09, 2026. The disclosure was signed by Nidhi Tanna, Company Secretary (ACS-30465), and the information has also been hosted on the Company's official website at www.welspunenterprises.com .

Welspun Enterprises Limited has officially received the Letter of Award dated April 29, 2026, for a major highway infrastructure project worth ₹7,300 crore from Maharashtra State Infrastructure Development Corporation Limited. The project involves construction of a 6-lane partially elevated highway corridor on the Pune-Shirur section of NH-753F, significantly boosting the company's order book to ₹18,755 crore.

Project Specifications and Award Details

The infrastructure project covers construction of a 6-lane partially elevated highway corridor along with improvement of existing road from Km. 10+600 to Km. 64+000, spanning a minimum design length of 53.40 km in Maharashtra. The project will be executed under the DBFOT (Design, Build, Finance, Operate and Transfer) model on a toll basis with a sub-concession period of 29 years including a construction period of 4 years.

Parameter: Details Project Value: ₹7,300 crore Concession Period: 29 years (including 4-year construction) Route: Pune to Shirur section of NH-753F Length: 53.40 km (minimum design length) Model: DBFOT (Toll) Mode Awarding Authority: Maharashtra State Infrastructure Development Corporation Limited Letter of Award Date: April 29, 2026

The Government of India through the Ministry of Road, Transport and Highway has entrusted the Government of Maharashtra through Public Works Department for development, maintenance and management of the project. MSIDC is acting as the implementing agency and tendering entity carrying out the bidding process for selection of private entity to award sub-concession of the project.

Enhanced Order Book Portfolio

With the addition of this significant project, Welspun Enterprises' outstanding order book has increased to ₹18,755 crore from the previous ₹13,341 crore as of December 31, 2025. The diversified order book spans across multiple infrastructure verticals, providing improved revenue visibility and supporting sustainable growth strategy.

Vertical: Order Book Value Water Vertical: ₹10,813 crore (including ₹5,393 crore from O&M & Asset replacement) Tunnelling Segment: ₹1,791 crore Transportation Vertical: ₹6,152 crore (including current project) Total Order Book: ₹18,755 crore

The project is strategically located in one of Maharashtra's fastest-growing economic corridors and is expected to improve connectivity across key nodes including Wagholi, Kharadi, Lonikand, Ranjangaon and Shikrapur. The corridor will reduce congestion, shorten travel time between Pune and Shirur, improve freight efficiency, and support industrial growth while generating employment across construction and operations.

Leadership Commentary

Commenting on the achievement, Mr. Sandeep Garg, Managing Director, stated that the receipt of the Letter of Acceptance for the Pune–Shirur Highway Project represents a significant milestone in Welspun Enterprises Limited's growth journey and reinforces their strategic expansion in the transportation sector. He emphasized the company's commitment to maintaining the highest standards of execution, governance, and financial prudence while leveraging capabilities to deliver high-quality infrastructure assets.

Mr. B.K. Goenka, Chairman, Welspun World, highlighted that projects like Pune–Shirur are critical to unlocking regional economic potential and strengthening growth corridors while creating long-term value for communities and industry. He noted that WEL's consistent execution track record of delivering complex infrastructure projects is being recognized by clients and the company is moving in the right direction of creating sustainable value.

Regulatory Compliance and Trading Window

The company has disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for dealing in the securities of the company by Designated Persons involved in the project has been closed since April 01, 2026, and will re-open 48 hours after the declaration of audited financial results for the quarter and year ended March 31, 2026.

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