Kalpataru subsidiary terminates highway concession agreement with NHAI

Kalpataru Projects International announced its wholly-owned subsidiary, Wainganga Expressway Private Limited (WEPL), terminated its concession agreement with the National Highways Authority of India due to NHAI's contractual defaults.

The termination follows a July 2024 arbitration award in WEPL's favor. NHAI had previously challenged the award and alleged payment defaults by WEPL, which the subsidiary disputed.

Kalpataru expects no significant financial implications from the termination.