MBL (MP) Toll Road Company Limited, a 100% subsidiary SPV Company, was formed for development of Waraseoni-Lalbarra Road in the state of Madhya Pradesh on BOT (Toll + Annuity) basis since 03.08.2015.

Suratgarh Bikaner Toll Road Company Private Limited, a 100% subsidiary SPV Company, was formed for development and operation of Bikaner-Suratgarh Section of NH-15 in the state of Rajasthan. The commercial operations have commenced for 96.54% of its 172.384 Km of the Project since 17.02.2019.

MBL Projects Limited, a wholly-owned subsidiary, was formed for consolidating all the BOT projects of the company.