Appendix IA

Annex-IV
ANNEX-IV
Details of Eligible Projects
(Refer to clauses 2.2.2.1, 2.2.2.4 and 2.2.2.6 of the RFP)

Project Code: “a”

Entity: Bidder (Larsen & Toubro Limited)
Refer
Item Particulars of the Project
Instruction
(1) (3)
(2)
Title:
Civil, Building and Track Works Contract Packages CTP-
Title & nature of the Project 1 & 2 (Rewari-Iqbalgarh Section) of WDFC
Nature of Project:
Railway (Civil and Track Work)
Category 5 3

Year-wise (a) payments received 2015-16 ₹ 610.12 Cr.

for construction, or (b) 2016-17 ₹ 710.18 Cr.
expenditure on construction 6 2017-18 ₹ 607.09 Cr.
works undertaken by itself in a PPP 2018-19 ₹ 456.65 Cr.
project 2019-20 ₹ 526.33 Cr.
Dedicated Freight Corridor Corporation of India Ltd.,
Entity for which the project was
7 5th Floor, Pragati Maidan Metro Stn. Building Complex
Constructed
New Delhi-110001 (INDIA), Phone-011-23454700

Location INDIA

Project cost 8 ₹ 3,917.69 Cr. (49% of Total project cost)

Date of commencement of
30-Aug-2013
Project/contract
Date of completion /
9 31-Dec-2020
commissioning
Equity Share Holding (with Period
10 -
during which equity was held)
Whether credit is being taken for
the Eligible Experience of an 16 No
Associate (Yes/No)

Signature Not
Verified
Digitally signed by S
RAMKUMAR
Date: 2020.08.21
16:13:49 IST
Reason: IREPS-CRIS
Location: New Delhi
 Chartered Accountants
Indiabulls Finance Centre
Tower 3, 27th – 32nd Floor
Senapati Bapat Marg
Prabhadevi (West)
Mumbai – 400 013
Maharashtra, India
Tel: +91 22 6185 4000
Fax: +91 22 6185 4001

Certificate from the Statutory Auditor regarding construction works

Based on its books of accounts and other published information authenticated by it, this is to certify
that M/s. LARSEN & TOUBRO LIMITED in consortium with Sojitz Corporation, Japan is
engaged by DEDICATED FREIGHT CORRIDOR CORPORATION OF INDIA LIMITED to execute
Civil, Building and Track Works Contract Packages CTP - 1 & 2 (Rewari - Iqbalgarh Section)
of Western Dedicated Freight Corridor for Design and Construction of Civil, Building and
Track Works for Double Lane Railway Involving Formation of Embankments/Cuttings,
Bridges, Structures, Buildings, Ballast on Formation, Track Works Including Testing and
Commissioning on Design & Build Lump sum Price Basis. The construction of the project
commenced on 30th August, 20133 and the project is likely to be commissioned on 31st December,
20202. It is certified that M/s. LARSEN & TOUBRO LIMITED received Rs. 2,979.69 Cr.1 (Rupees
Two Thousand Nine Hundred Seventy Nine Crore & Sixty Nine Lakh only), by way of payment
for the aforesaid construction works.

We further certify that the total estimated capital cost of the project is Rs. 3,917.69 Cr. (Rupees
Three Thousand Nine Hundred Seventeen Crore & Sixty Nine Lakh only), of which the Bidder
received Rs. 2,910.37 Cr. (Rupees Two Thousand Nine Hundred Ten Crore & Thirty Seven
Lakh only), in terms of Clauses 2.2.2.1/i and 2.2.2.5/ii of the RFP, during the past five Financial
Years as per year-wise details noted below:

2015-2016 Rs.610.12 Cr.

2016-2017 Rs.710.18 Cr.
2017-2018 Rs.607.09 Cr.
2018-2019 Rs.456.65 Cr.
2019-2020 Rs.526.33 Cr.

“It is further certified that the receipts indicated above are restricted to the share of the
Bidder who undertook these works as a member of Consortium”

Notes:

1. The payment received for each Financial Year is computed using the formula : [Total
Certified Invoicing as at each Financial Year end - Total Outstanding as at the end of the
Financial Year less GST receivable, if applicable] - Total Payment received till end of the
previous Financial Year.

2. Likely Completion date of the project, being a technical matter, has been verified from the
representation provided by the management.
3. The date of commencement of the project is verified from the Letter of Allotment.
4. The eligible project as disclosed above is solely identified by the management.

5. This Certificate is to be read in conjunction with the attached notes and the Statement
showing details of Eligible Project (the “Statement”).

For Deloitte Haskins & Sells LLP

Chartered Accountants
Firm Registration No. 117366W/W-100018

Mukesh Jain
Partner
Place: Mumbai Membership No. 108262
Date: June 30, 2020 UDIN: 20108262AAAAJE2143
MJ/2020-21/092
Regd. Office: Indiabulls Finance Centre, Tower 3, 27th – 32nd Floor, Senapati Bapat Marg, Prabhadevi (West), Mumbai- 400 013, Maharashtra, India
(LLP Identification No. AAB- 8737)

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 Ref. No. MJ/2020-2021/092

Notes to Certificate from the Statutory Auditor regarding construction works for the
Project during the five financial years 2015-16 to 2019-20 and total amount received upto
March 31, 2020 for Project - Civil, Building and Track Works Contract Packages CTP-1 &
2 (Rewari - Iqbalgarh Section) of Western Dedicated Freight Corridor .

1. This Certificate is issued in accordance with the terms of our engagement letter dated September
26, 2019.

2. We, Deloitte Haskins & Sells LLP, Chartered Accountants (Firm Registration Number
117366W/W-100018), the Statutory Auditors of M/s. Larsen & Toubro Limited (the
“Company”), have been requested by the Management of the Company to verify the
particulars contained in the statement of Total estimated capital cost (“Contract value”) as at
March 31, 2020 the amount received during the five Financial years commencing from April 1,
2015 and ending on March 31, 2020 (5 Years) and Total amount received upto 31st March, 2020
and other particulars for the eligible project certificate issued in the prescribed format and in
clause 2.2.2.1, 2.2.2.4 and 2.2.2.6 contains the details as required, pursuant to compliance with
the terms and conditions contained in the aforementioned clause as per Annexure IV of Appendix
IA to the Request For Proposal (the “RFP”) document issued by the Chief Engineer Construction
West, North Central Railway (the “Authority”) for Construction along-with Electrification of the
railway line Doubling between Khairar-Yamuna South Bank (Total 57.41 Kms) Section (the
“Project”) through Engineering, Procurement & Construction (the ”EPC”) contract, Package
No. DYCE-C-II-JHS-2020-EPC01. The responsibility for compiling the information contained
in the Statement is of the Management of the Company, and the Statement is signed by us for
identification purposes only.

Management’s Responsibility for the Statement

3. The preparation and provision of the required details for the Particulars in the Statement is
the responsibility of the Management of Company including the preparation and maintenance
of all accounting and other relevant records and documents. This responsibility includes the
design, implementation and maintenance of internal control relevant to the preparation and
presentation of the particulars and applying an appropriate basis of preparation; and making
estimates that are reasonable in the circumstances.

4. The Management of the Company is responsible for the adherence with the eligibility criteria
including the identification of the relevant job as a related project that meets the eligibility
criteria and for the compliance with the relevant regulations relating to the requirements
prescribed by the Employer in connection with the Request for Proposal of the Project. The
Management is also responsible for ensuring that the Company complies with the requirements
of the Tender Document and provides all relevant information to the authority.

Auditor’s Responsibility

5. Our responsibility is to provide a limited assurance whether the particulars contained in the
Statement are not materiality misstated for the eligible project (for which certificate is issued),
based on audited books of accounts for the respective Financial Years. The procedures
performed in a limited assurance engagement vary in nature and timing, and are less in extent
than, a reasonable assurance engagement. Consequently, the level of assurance obtained in
a limited assurance engagement is substantially lower than the assurance that would have
been obtained had a reasonable assurance engagement been performed.

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6. The audited standalone financial statements of the Company as of and for the financial years
ended March 31, 2020, March 31, 2019 and March 31, 2018 were audited by us on which we
issued an unmodified audit opinion vide our reports dated June 05, 2020, May 10, 2019 and
May 28, 2018 respectively. The financial statements were prepared in accordance with Indian
Accounting Standards (Ind AS) framework laid out in the Companies (Indian Accounting
Standards) Rules, 2015. The audited standalone financial statements of the Company as of
and for the financial years ended March 31, 2017 and March 31, 2016 were jointly audited by
us with another firm of Chartered Accountants, on which we jointly issued an unmodified audit
opinion vide our reports dated May 29, 2017 and May 25, 2016 respectively.The financial
statements were prepared in accordance with Accounting Standards (AS) framework laid out
in the Companies (Accounting Standards) Rules, 2006.
Our audit of the standalone financial statements of the Company for the financial years ended
March 31, 2020, March 31, 2019, March 31, 2018, March 31, 2017 and March 31, 2016 were
conducted in accordance with the Standards on Auditing specified under Section 143(10) of
the Companies Act, 2013. Those Standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material
misstatement.

7. We conducted our examination for the purposes of this Certificate in accordance with the
Guidance Note on Audit Reports and Certificates for Special Purposes (Revised 2016) and the
Standards on Auditing, both issued by the Institute of Chartered Accountants of India (“ICAI”)
which includes the concepts of test check and materiality. This Guidance Note requires that
we comply with the ethical requirements of the Code of Ethics issued by the ICAI.

8. We have complied with the relevant applicable requirements of the Standard on Quality Control
(SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial
Information, and Other Assurance and Related Services Engagements.

Criteria and Scope

9. The criteria against which the information contained in the Statement is evaluated are following:
a) Relevant extracts of the Project from the audited financial statements and the underlying
books of account of the Company for the financial years ended March 31, 2020, March 31,
2019, March 31, 2018, March 31, 2017 and March 31, 2016;
b) Copies of Contract Agreement / Letter of Allotment;
c) Written representations obtained from the Management of the Company.

Restriction on Use

10. This Certificate is provided to the Management of the Company solely to comply with the
eligibility requirements prescribed by the authority for above mentioned project and should
not be used by any other person or for any other purpose. Accordingly, we do not accept or
assume any liability or any duty of care for any other purpose or to any other person to whom
this report is shown or into whose hands it may come without our prior consent in writing.

For Deloitte Haskins & Sells LLP

Chartered Accountants
(Firm’s Registration No. 117366W/W-100018)

Mukesh Jain
(Partner)
(Membership No.108262)
UDIN: 20108262AAAAJE2143
Place: Mumbai
Date: June 30, 2020
MJ/2020-21/092

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