1. 8.75% – Secured Redeemable Non Convertible Debentures of Rs. 5
 Crores are secured by hypothecation of specific Plant & Machinery with
 paripassu charge by mortgage of immovable property in Gujarat. Out of
 Rs. 5 Crores, based on contractual terms, debentures valuing Rs. 1.5
 Crores have been redeemed on 30th March, 2011. The debentures are due
 for repayment at the end of 8th, 9th and 10th year from the date of
 allotment.  i.e. 30th March, 2003.
 
 7.50% – Redeemable Non Convertible Debentures of Rs. 15 Crores and
 7.25% – Redeemable Non Convertible Debentures of Rs. 6 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 8.75% Secured
 Redeemable Non Convertible Debentures of Rs. 3.5 Crores. The Debenture
 holders holding Rs. 15 Crores of 7.50% Redeemable Non-Convertible
 Debentures and Rs. 6 Crores of 7.25% Redeemable Non Convertible
 Debentures have exercised their put option and accordingly same have
 been redeemed on 29th September, 2010.
 
 7.50% – Redeemable Non-Convertible Debentures of Rs. 50 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 8.75% Secured
 Redeemable Non-Convertible Debentures of Rs. 3.5 Crores. The Debentures
 are due for repayment at the end of 8th, 9th and 10th year from the
 date of allotment i.e. 5th August, 2005.
 
 9.95% – Redeemable Non-Convertible Debentures of Rs. 50 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 8.75% Secured
 Redeemable Non-Convertible Debentures of Rs. 3.5 Crores and 7.50%
 Secured Non-convertible Debenture of Rs. 50 Crores. The Debentures are
 due for repayment at the end of 8th, 9th and 10th year from the date of
 allotment being, 24th March, 2008.
 
 10.80% – Redeemable Non Convertible Debentures of Rs. 100 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 9.95 % Secured
 Redeemable Non-Convertible Debentures of Rs. 50 Crores and 8.75%
 Secured Redeemable Non-Convertible Debentures of Rs. 3.5 Crores and
 7.50% Secured Non-convertible Debenture of Rs. 50 Crores. The
 Debentures are due for repayment at the end of 5th, 6th and 7th year
 from the date of allotment being, 25th July, 2008.
 
 10.50% – Redeemable Non Convertible Debentures of Rs. 74 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 10.80% Secured
 Redeemable Non-Convertible Debentures of Rs. 100 Crores and 9.95%
 Secured Redeemable Non-Convertible Debentures of Rs. 50 Crores and
 8.75% Secured Redeemable Non-Convertible Debentures of Rs. 3.5 Crores
 and 7.50% Secured Non-convertible Debenture of Rs. 50 Crores. The
 Debentures are due for repayment at the end of 8th, 9th and 10th year
 from the date of allotment being, 7th May, 2009.
 
 9.50% – Redeemable Non Convertible Debentures of Rs. 50 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 10.50% Secured
 Redeemable Non-Convertible Debentures of Rs. 74 Crores and 10.80%
 Secured Redeemable Non-Convertible Debentures of Rs. 100 Crores and
 9.95% Secured Redeemable Non-Convertible Debentures of Rs. 50 Crores
 and 8.75% Secured Redeemable Non-Convertible Debentures of Rs. 3.5
 Crores and 7.50% Secured Non-convertible Debenture of Rs. 50 Crores.
 The Debentures are due for repayment at the end of 8th, 9th and 10th
 year from the date of allotment being 18th June, 2010.
 
 9.50% – Redeemable Non Convertible Debentures of Rs. 50 Crores are
 secured by hypothecation of specific Plant & Machinery with paripassu
 charge by mortgage of immovable property in Gujarat with 9.50% Secured
 Redeemable Non-Convertible Debentures of Rs. 50 Crores and 10.50%
 Secured Redeemable Non-Convertible Debentures of Rs. 74 Crores and
 10.80% Secured Redeemable Non-Convertible Debentures of Rs. 100 Crores
 and 9.95% Secured Redeemable Non-Convertible Debentures of Rs. 50
 Crores and 8.75% Secured Redeemable Non-Convertible Debentures of Rs.
 3.5 Crores and 7.50% Secured Non-convertible Debenture of Rs. 50
 Crores. The Debentures are due for repayment at the end of 8th, 9th and
 10th year from the date of allotment being 5th September, 2010.
 
 2.  Issued Share Capital includes 725,800 shares of Rs. 2 each kept in
 abeyance.
 
 3.  Share Forfeited account includes Rs. 0.26 Crores of Share Premium
 collected on application in respect of forfeited shares.
 
 4.  In terms of the approval of the shareholders in the Extra Ordinary
 General Meeting of the Company on 17th June, 2009 the Company issued
 16,000,000 equity warrants to the promoter group on a preferential
 basis, entitling them to apply for and obtain allotment of one equity
 shares of Rs. 2 each at a premium of Rs. 88.20 per share. During F.Y.
 2009-2010, the promoter group had exercised 7,750,000 warrants for
 conversion to equity shares and paid in an amount equivalent to 25% of
 the 8,250,000 outstanding warrants. The balance warrant of 8,250,000
 have been exercised during the year for conversion to equity share and
 accordingly 8,250,000 shares have been allotted on 7th January, 2011.
 
 5.  As per the intimation available with the Company, there are no
 Micro, Small and Medium Enterprises, as defined in the Micro, Small, and
 Medium Enterprises Development Act, 2006, to whom the Company owes dues
 on account of principal amount together with interest and accordingly
 no additional disclosures have been made.
 
 The above information regarding Micro, Small and Medium Enterprises
 have been determined to the extent such parties have been identifed on
 the basis of information available with the Company. This has been
 relied upon by the Auditors.
 
 6.  Loans and advances include Rs. Nil (previous year Rs. 50.00 Crores)
 which are secured by pledge of equity shares of a private Company. The
 security value is adequate to recover the amount advanced. The said
 loan has been repaid during the year.
 
 8. (a) In respect of currency swap derivative contracts entered into by
 the Company, the Company has Marked to Market (Gain)/loss of Rs. (2.36)
 Crores (Previous Year loss Rs. 3.92 Crores) as at 31st March 2011 based
 on the valuation given by the bankers. Following the principle of
 prudence and in accordance with the announcement of the ICAI, the
 Company has made a provision for the same. Since the same was entered
 into to reduce the cost of borrowings, the said MTM loss is included
 under Financial Costs.
 
 In respect of these shares where the voting rights and beneficial rights
 are so transferred, the holder continues to be the original allotees as
 per the records of the respective companies.
 
 10.  Provident Fund:
 
 The provisions of the Employees'' Provident Fund and Miscellaneous
 Provisions Act, 1952, have been implemented at the work sites where
 code numbers have been allotted. In respect of the remaining work sites
 necessary applications have been made for allotment of code numbers.
 
 However, a provision of Rs. 0.25 Crores is available to cover any
 liability arising there from.
 
 13. In respect of the road projects undertaken by the Company, in
 furtherance to the recommendation of the Dispute Resolution Board
 (DRB), the Company has been awarded claims by the Arbitration Tribunal
 for an aggregate amount of Rs. 94.54 Crores which has been recognized
 as revenue & included in Sundry Debtors. The Company contends that such
 awards have reached finality for the determination of the amounts of
 such claims and are reasonably confdent of recovery of such claims
 although the client has moved the court to set aside the awards.
 
 Considering the fact that the Company has received favorable awards
 from the DRB and the arbitration tribunal, the Management is reasonably
 certain that the claims will get favorable verdict from the courts.
 
 16. Dividend income includes dividend of Rs. Nil (Previous Year Rs.
 0.07 Crores) from trade investments. Dividend received from own
 investment held through Gammon Trust is adjusted under appropriation
 Rs. 0.58 Crores.
 
 1 7. Interest from Joint Stock companies includes accrued onetime
 non-recurring interest income of Rs. 182.39 Crores under contractual
 conditions from one of the subsidiary of the Company.
 
 18. Pursuant to the amalgamation of ATSL with the Company, the
 outstanding options of the employees of the erstwhile ATSL outstanding
 as on 1st April, 2008 have been taken up as an obligation by the
 Company in accordance with the Scheme approved by the court.
 Accordingly the Company has accounted for the grant of 106,300 options
 to such employees at an exercise prize of Rs. 80 per share. The Company
 will issue two equity shares against each option in terms of the scheme
 of amalgamation approved by the Courts.
 
 The options were granted by the erstwhile ATSL on 27th March, 2007. The
 options vest in a graded manner over the period of four years and are
 exercisable during a period of three years from the date of vesting
 thereof.
 
 Since the assets and liabilities of the erstwhile ATSL has been
 accounted at the book value, the accounting effect in the accounts are
 continued at the same value.
 
 The fair value of the option however has been computed under the Black
 Scholes method considering the data of the Company as on the date of
 grant of option for the purpose of disclosure as required under
 Guidance note on Employee share based payments detailed hereunder.
 
 (c) The requirement of quantitative information of the Company as
 required by A.S.E. 494 – E dated 30.10.1973 is not applicable to the
 Company as regards construction activities of transmission line. As
 regards various other quantitative details the same have not been
 reported as various items are of dissimilar nature and it is not
 practicable to disclose the quantitative information.
 
 23.  The Company is engaged mainly in only one reportable segment viz.,
 Construction and Engineering. Additionally the Company has revenue
 from Windmills which is not significant and accounts for less than 10%
 of the total revenue and total assets of the Company. Therefore no
 disclosure of separate segment reporting as required in terms of
 Accounting Standard AS – 17 is done. The Company also primarily
 operates under one geographical segment namely India.
 
 24.  Disclosure of transactions with Related Parties, as required by
 Accounting Standard – 18 ''Related Party Disclosures'' has been set out
 in a separate statement – 1 annexed to this Schedule.
 
 25.  Disclosure under Accounting Standard – 19 Leases, issued by the
 Institute of Chartered Accountants of India.
 
 The Company has taken various residential/godowns/offices premises
 (including Furniture and Fittings if any) under lease and license
 agreements for periods which generally range between 11 months to 3
 years. These arrangements are renewable by mutual consent on mutually
 agreed terms. Under some of these arrangements the Company has given
 refundable security deposits. The lease payments are recognized in
 Profit and Loss Account under Rent, Rates and Taxes.
 
 For the purposes of computation of earning per shares the equity shares
 issued against the options granted to the employees of the erstwhile
 ATSL have been considered in the weighted average shares during the
 period. Similarly 725,800 equity shares kept in abeyance from earlier
 equity offerings have also been considered for dilution. The weighted
 shares have been determined with reference to the respective dates of
 allotment of the shares issued under ESOP''s and the Warrants
 respectively.
 
 2 7.  During the year an amount of Rs. 13.33 Crores has been
 transferred from Foreign Currency Translation Reserves Account to the
 Profit & Loss Account on retirement of certain portion of the long term
 loans from the subsidiaries.
 
 28.  Pursuant to the scheme of amalgamation, the Company owns 5,804,620
 equity shares of itself through Gammon India Trust which was allotted
 the shares against the Company''s holding in erstwhile ATSL in terms of
 the order of the Hon''ble High Court of Mumbai and Gujarat.
 
 29.  Diminution in the Value of Investments:
 
 A.  The Company through its Special Purpose Investment Vehicle holds
 the following stakes:
 
 (1) Franco Tosi Meccanica S.p.A., Italy
 
 (2) Sofnter S.p.A., Italy
 
 (3) Sadelmi S.p.A., Italy
 
 (4) SAE S.r.l., Italy
 
 B.  The Company has carried out its impairment test of the investments
 of Franco Tosi Meccanica , Sofnter and SAE Italy. Considering the
 business plans of these entities and the results of the tests and the
 fact that all these entities have healthy order book positions and
 adequate references in international markets notwithstanding the
 turbulent market conditions in Europe, the management is of the view
 that there is no impairment in its investments in these companies.
 
 C.  The Company through its step down subsidiary P. Van Eerd
 Beheersmaatschappij B.V., Netherlands (PVAN) held a 50% shareholding in
 Sadelmi S.p.A for Euro 7.5 million, Italy (Sadelmi) with the remaining
 50% held by Busi Impianti S.p.A, Italy since April 2008. Due to the
 economic conditions prevailing in different parts of the world where
 Sadelmi was present some of the projects under execution encountered
 serious contractual problems. Sadelmi therefore sought creditors''
 protection through a Court in Italy and simultaneously, as part of
 scheme, applied for transferring the remaining projects and leased all
 references standing in its name since inception to a new Company Busi
 Power S.r.l. wholly held by Busi Group. By an Agreement dated 2nd
 March, 2009, Busi Group agreed to give PVAN 50% stake in lieu of its
 stake in Sadelmi for a consideration of Euro 1 and convert the S.r.l.
 status into an S.p.A. to facilitate the same. Consequently PVAN will
 cease to be a shareholder of Sadelmi from that date and will become a
 shareholder of Busi Power. The compliances is expected to be reached in
 ensuing year, at which time Busi Group will duly capitalize its wholly
 owned subsidiary in India with an equity infusion of Euro 2.5 million
 and will also permit it to freely draw up the references to undertake
 future projects in India, as was mentioned in the previous year
 consequent upon this arrangement. The management''s assessments of the
 references indicate that the value of such references and the infusion
 of Euro 2.5 million by Busi Group would be in excess of the acquisition
 cost of such stake.
 
 Consequent upon this arrangement, Busi Group will be wholly responsible
 for the operations and all future funding of Busi Power S.r.l. and
 Gammon will be wholly responsible for the operations and future funding
 of the Indian subsidiary for the projects undertaken by them in the
 territories identifed respectively for them. The results of these
 operations will be consolidated in the Company after the Court scheme
 is given effect to and the fresh set of financial are drawn up.
 
 31.  Unpaid dividend includes Rs. 0.14 Crores (Previous Year – Rs. 0.10
 Crores) and accrued interest includes Rs. 0.05 Crores (Previous Year –
 Rs. 0.16 Crores) towards interest on fxed deposits to be transferred to
 the Investor Education & Protection Fund.
 
 32.  CONTINGENT LIABILITIES:
 
                                                     (Rs. in Crores)
 
 Sr.  Particulars                                As at       As at
 
 No.                                         31st March, 
                                                    2011   31st March, 
                                                                 2010
 
 1.  Liability on contracts remaining to be 
     executed on Capital Accounts                  12.59        73.83
 
 2.  Counter Guarantees given to Bankers for 
     Guarantees given by them and Corporate
     Guarantees, on behalf of subsidiary, 
     erstwhile subsidiary, associate
     Companies stand at                         6,531.96      5,436.41
 
 3.  Corporate Guarantees and Counter 
     Guarantees given to Bankers towards 
     Company''s share in the Joint Ventures 
     for guarantees given by them to the 
     Joint Venture Project Clients                556.31        463.36
 
 4.  Disputed Sales Tax liability for which 
     the Company has gone into Appeal is           24.66         23.88
 
 5.  Claims against the Company not 
     acknowledged as debts                         47.26         47.76
 
 6.  Disputed Excise Duty Liability                 0.03          0.03
 
 7.  Disputed Customs Duty Liability                0.32          0.32
 
 8.  Disputed Service Tax Liability                18.61         29.21
 
 9.  Contingent Liability on partly paid shares        —             —
 
 10.  There is a disputed demand of UCO Bank pending since 1986, of US$
 436,251 i.e. Rs. 1.72 Crores. Against this, UCO Bank has unilaterally
 adjusted the Company''s Fixed Deposit of US$ 30,584 i.e. Rs. 0.12
 Crores, which adjustment has not been accepted by the Company.
 
 11.  The Company had deposited customs duty of Rs. 2.20 Crores under
 protest in respect of certain machineries imported for the project in
 Sikkim. The Company contends that the import of machinery is duty free
 as per the Project Import regulations prevailing then. The Company has
 preferred an appeal against the levy of Custom Duty. Pending outcome of
 the appeal, the said amount is carried under Advances recoverable in
 cash or in kind.
 
 12.  In respect of Joint Venture and operations in Oman, Gammon India
 Limited – AL Matar JV, refer note no. 37.
 
 13.  Counter claims in arbitration matters referred by the Company –
 liability unascertainable.
 
 33.  The balance with The Freyssinet Prestressed Concrete Company
 Limited is as per books of accounts and subject to reconciliation.
 
 34.  Cash & Bank balances include Rs. 2.00 Crores (Previous Year Rs.
 2.13 Crores) with bank branches in foreign countries relating to
 certain foreign projects which are not readily available for use by the
 Company and are subject to exchange control regulation of the
 respective countries.  The Fixed Deposit related interest and principal
 account as at the year-end are as per ledger and are subject to
 reconciliation, which is under progress.
 
 35.  During the F.Y. 2010-2011, search action was initiated against the
 Company u/s 132 of the Income Tax Act, On a prudent basis an additional
 tax provision of Rs. 17 Crores have been made in accounts of F.Y.
 2009-2010.
 
 3 7.  Joint venture and operations in Oman:
 
 (a) There are claims against the Joint venture not acknowledged as
 debts of RO 0.84 million (Rs. 9.85 Crores) in respect of which the
 lower courts have ruled in favour of the claimant. The Management is
 hopeful of obtaining relief from the higher courts in the matter.
 
 (b) The joint venture has carried out certain works including
 operations and maintenance of the project based on work instructions
 received from the consultant/client which is subject to certification
 and acceptance by the client on account of certain disputes with the
 client which the management is hopeful of resolving in favour of the
 Joint venture. The total value of such works being carried as part of
 the job estimates is RO 0.91 million (Rs. 10.67 Crores).
 
 (c) The banking facilities including fund and other non-fund based
 borrowings utilized by the Joint Venture entity which are in the name
 of the Company but have been accounted in the books of Joint Venture.
 The borrowings have been guaranteed by the Company and are secured by
 assignment of the Joint Venture contract receivable and Joint
 registration and insurance of all equipments and Corporate guarantees
 of Gammon India Limited of RO 1.25 million (Rs. 14.66 Crores). The
 total of such borrowings as at 31st March, 2011 is RO 169,337 (Rs. 1.99
 Crores) [Previous Year RO 4,002,265 (Rs. 46.99 Crores)] which consists
 of Fund based RO (208,554) (Rs. 2.44 Crores) [Previous Year RO
 3,628,768 (Rs. 42.61 Crores)] and Non-fund based RO 377,891 (Rs. 4.43
 Crores) [Previous Year RO 373,498 (Rs. 4.39 Crores)].
 
 (d) Transactions of Oman Branch and the accounting effect of the Gammon
 Al Matar Joint Venture Profits are accounted on the basis of the
 accounts prepared specially for this purpose and which is duly audited
 by the Company''s auditor.
 
 (e) During the year the Assets held by the Oman Branch have been
 transferred to India. The related Foreign Currency Translation Reserve
 has been reversed.
 
 39.  Previous year''s fgures are regrouped and rearranged with those of
 the current year to make them comparable.
 
 SCHEDULE – 1
 
 Related Party Disclosure (AS – 18):
 
 (A) Relationships:
 
 Subsidiaries/Fellow Subsidiaries:
 
 1.  Andhra Expressway Limited
 
 2.  Ansaldo Caldaie Boilers India Private Limited
 
 3.  ATSL BV, Netherland
 
 4.  ATSL Infrastructure Projects Limited
 
 5.  Associated Transrail Structures Limited, Nigeria
 
 6.  Campo Puma Oriente SA
 
 7.  Chitoor Infra Company Private Limited
 
 8.  Chitoor Infrastructure Projects Private Limited
 
 (formerly known as Satyavedu Infra Company Private Limited)
 
 9.  Cochin Bridge Infrastructure Company Limited
 
 10.  Deepmala Infrastructure Private Limited
 
 11.  Dohan Renewable Energy Private Limited
 
 12.  Franco Tosi Hydro Private Limited
 
 13.  Franco Tosi Meccanica S.p.A.
 
 14.  Franco Tosi Turbines Private Limited
 
 15.  GACTEL Turnkey Projects Limited
 
 16.  Gammon & Billimoria Limited
 
 17.  Gammon & Billimoria LLC
 
 18.  Gammon Holdings BV
 
 19.  Gammon Holdings (Mauritius) Limited
 
 20.  Gammon Infrastructure Projects Limited
 
 21.  Gammon International BV
 
 22.  Gammon International FZE
 
 23.  Gammon International LLC, Oman
 
 24.  Gammon Italy S.r.l.
 
 25.  Gammon Logistics Limited
 
 26.  Gammon Power Limited
 
 27.  Gammon Projects Developers Limited
 
 28.  Gammon Realty Limited
 
 29.  Gammon Renewable Energy Infrastructure Limited
 
 30.  Gammon Retail Infrastructure Private Limited
 
 31.  Gammon Road Infrastructure Limited
 
 32.  Gammon Seaport Infrastructure Limited
 
 33.  Ghaggar Renewable Energy Private Limited
 
 34.  Gorakhpur Infrastructure Company Limited
 
 35.  Indori Renewable Energy Private Limited
 
 36.  Jaguar Projects Developers Limited
 
 3 7.  Kasavati Renewable Energy Private Limited
 
 38.  Kosi Bridge Infrastructure Company Limited
 
 39.  Lilac Infra Projects Developers Limited
 
 40.  Marine Project Services Limited
 
 41.  Markanda Renewable Energy Private Limited
 
 42.  Metropolitan Infrahousing Private Limited
 
 43.  Mumbai Nasik Expressway Limited
 
 44.  P. Van Eerd Beheersmaatschappij BV – Netherlands
 
 45.  Pataliputra Highway Limited
 
 46.  Patna Highway Projects Limited
 
 47.  Pravara Renewable Energy Limited
 
 48.  Preeti Townships Private Limited
 
 49.  Rajahmundry Expressway Limited
 
 50.  Rajahmundry Godavari Bridge Limited
 
 51.  RAS Cities and Townships Private Limited
 
 52.  SAE Powerlines S.r.l.
 
 53.  SAE Transmission India Limited
 
 54.  Sikkim Hydro Power Ventures Limited
 
 55.  Sirsa Renewable Energy Private Limited
 
 56.  Sutlej Renewable Energy Private Limited
 
 57.  Tada Infra Development Company Limited (formerly Gammon
 Hospitality Limited)
 
 58.  Tada Infrastructure Projects Private Limited (formerly known as
 Tada SEZ Private Limited)
 
 59.  Tangri Renewable Energy Private Limited
 
 60.  Tidong Hydro Power Limited
 
 61.  Transrail Lighting Limited
 
 62.  Vizag Sea Port Private Limited
 
 63.  Yamuna Renewable Energy Private Limited
 
 64.  Youngthang Power Ventures Limited
 
 Joint Ventures:
 
 1.  Afghanistan ATSL AEPC Consortium
 
 2.  Aydeniz Gammon
 
 3.  BBJ Gammon
 
 4.  BBJ GIL
 
 5.  Bhutan Consortium Jyoti Structures Limited and Gammon India Limited
 
 6.  Blue Water Iron Ore Terminal Private Limited
 
 7.  Gammon Al Matar
 
 8.  Gammon Ansaldo (Kakrapara BOT Pkg. I)
 
 9.  Gammon Atlanta
 
 10.  Gammon Atlanta (Ghana Road Project)
 
 11.  Gammon Aydinar (Rammam)
 
 12.  Gammon BBJ
 
 13.  Gammon Cadagua (Guwahati WS Pkg. III)
 
 14.  Gammon CMC (DFCC Eastern Corridor)
 
 15.  Gammon Construtora Cidade Tensaccia Joint Venture
 
 16.  Gammon Construtora Tensacuai
 
 17.  Gammon Encee Consortium
 
 18.  Gammon Encee Rail (Consortium)
 
 19.  Gammon JMC
 
 20.  Gammon Limak (Vishnugod Pipalnote HEPP)
 
 21.  Gammon Marti
 
 22.  Gammon Mosmetrostroy (Bangalore Metro)
 
 23.  Gammon OJSC Mosmetrostroy Joint Venture
 
 24.  Gammon OSE
 
 25.  Gammon Patel
 
 26.  Gammon Pratibha (BWSSB)
 
 27.  Gammon Pratibha (Hogenkkal WS)
 
 28.  Gammon Progressive
 
 29.  Gammon Sew
 
 30.  Gammon Rizzani
 
 31.  Gammon Srinivas
 
 32.  Gammon Technofab (Transmission & Distribution of Electricity &
 Water)
 
 33.  Gammon Tensacuai
 
 34.  Gammon Yuksel (Greenfeld Airport, Sasan)
 
 35.  GIL Archirodon
 
 36.  GIL KCT (Rupiasagar Kasiabara HEP) 
 
 3 7.  GIL Marti (Civil Work Sainj HEP)
 
 38.  GIL Simplex (Dholakal Tupul)
 
 39.  GIL Simplex (Khongsang Imphal)
 
 40.  Haryana Biomass Power Limited
 
 41.  Hyundai Gammon
 
 42.  Indira Container Terminal Private Limited
 
 43.  Jaeger Gammon
 
 44.  Jager Gammon
 
 45.  Lencon Gammon
 
 46.  OSE GIL
 
 47.  Patel Gammon
 
 48.  Punjab Biomass Power Limited
 
 49.  SEZ Adityapur Limited
 
 50.  Sofnter S.p.A.
 
 51.  Sumitomo Corp. Gammon, C & C Const. Limited, Sadbhav Engg. Limited
 
 Associates & Group Companies:
 
 1.  Eversun Sparkle Maritime Services Private Limited
 
 2.  Finest S.p.A. Italy
 
 3.  Modern Toll Roads Limited
 
 Entities where control exists:
 
 1.  Devyani Estate & Properties Private Limited
 
 2.  First Asian Capital Resources Private Limited
 
 3.  Masayor Enterprises Limited
 
 4.  Nikhita Estate Developers Private Limited
 
 5.  Pacific Energy Private Limited
 
 Key Management Personnel & Relatives:
 
 1.  Mr. Abhijit Rajan
 
 2.  Mr. Himanshu Parikh
 
 3.  Mr. Rajul A. Bhansali
 
 4.  Mr. Rohit Modi
 
 5.  Mr. Harshit Rajan
 
 6.  Mr. D. C. Bagde