The Company has informed the exchange about the Monitoring Agency Report for the Quarter ended June 30, 2026 as issued by Acuite Ratings & Research Limited, Monitoring Agency

GHV INFRA PROJECTS LIMITED GHIJ (Formerly known as Sindu Valley Technologies Limited) WE BUILD VALUE Date: August 10, 2026 Department of Corporate Services BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai – 400001 Company Scrip ID: GHVINFRA Company Scrip Code: 505504 Subject: Monitoring Agency Report under Regulation 32(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“Listing Regulations”), We are enclosing herewith the Monitoring Agency Report for the quarter ended June 30, 2026 as issued by Monitoring Agency, Acuité Ratings and Research Limited in respect of utilisation of proceeds raised through Preferential Issue of Convertible Warrants. The aforesaid information is also being made available on the website of the Company at www.ghvinfra.com This is for your information and records. Thanking You, Yours sincerely, For GHV Infra Projects Limited Daksh Tulsibhai Mewada Company Secretary & Compliance Officer Registered Office: A-511, 5th Floor, Kanakia Wall Street, Andheri Kurla Road, Andheri (East), Chakala MIDC, Mumbai – 400093.Tel: +91 22 6941 1500, Email: info@ghvinfra.com Web: www.ghvinfra.com CIN No.: L43900MH1976PLC457495 Acuit RATINGS & RESEARCH Report of the Monitoring Agency (MA) Name of the issuer : GHV Infra Projects Limited For quarter ended : Q 1-FY 2026 -27 Name of the Monitoring Agency : Acuite Ratings and Research Limited (a) Deviation from the objects : No Deviation is observed. (b) Range of Deviation : Not Applicable (c) Any other material fact to be highlighted : None Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title "Comments of the Board of Directors", that shall be captured by the Issuer's Management/ Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer's Management/Board. Vi ka s y Digitally signed . h by Vikas Y Mishra s ra Date: 2026.08.1 0 19:25:02 +os•30• Signature: Vikas Mishra Deputy Vice President -Process Excellence Report Date: August 10, 2026 Acuit8 RATINGS & RESEARCH 1. Issuer Details: Nameoftheissuer :GHV Infra Projects Limited Namesofthepromoter: Promoters Mr. Yijapura Jahidmohmed H Mrs. Husena Akbarali Musamji Mr. Arvind Awadnath Sharma Mr. Manisha Arvind Sharma Mr. Chirag Deepak Dephia M/s. JHY Commercials LLP M/s. Bhadra Paper Mills Limited Industry/sectortowhichitbelongs :Civil Construction/Construction 2. Issue Details: Issue Period : August 08, 2025 to August 22, 2025 Type of issue : Preferential Issue Type of specified securities :Convertible Warrants IPO Grading, if any : Not Applicable Issue size (INR Crores) : 154.00 Report Date: August 10, 2026 Acuit8 RATINGS & RESEARCH 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information /certifications Comments the Particulars Reply from the issuer considered by Monitoring Comments of the Monitoring Agency Board of Directors Agency for preparation of report 1. Whether all utilization is as per the Yes, utilisations in the respective No Comment I Yes objects are as per disclosures by the disclosures in the Offer Document? company. 2. Whether shareholder approval has been No Comment obtained in case of material deviations from Not Applicable Material deviation is not observed. expenditures disclosed in the Offer Document? 3. Whether the means of finance for the No Comment No No change is observed. disclosed objects of the issue has changed? I 4. Is there any major deviation observed over I The issuer had not appointed any No Comment I the earlier monitoring agency reports? other Monitoring Agency earlier. 5. Whether all Government/statutory No Comment Documents provided by the Government / Statutory approval is approvals related to the object{s) have been Yes issuer -Bank Statements and not required for the objects. obtained? Independent Auditors i Arrangement pertaining to technical No Comment 6. Whether all arrangements pertaining to Certificate etc. assistance / collaboration is not technical assistance/collaboration are in Not Applicable required with reference to the operation? ob·ects. -- i No favorable event is observed that No Comment 7. Are there any favorable events improving Yes may improve the viability of these the viability of these object{s)? objects. ~ No unfavorable event is observed No Comment i 8. Are there any unfavorable events affecting No affecting the viability of these the viability of the object{s)? I objects. I 9. Is there any other relevant information that I No relevant information is evident No Comment I may materially affect the decision making of No that may materially affect the the investors? I decision making of the investors. I Report Date: August 10, 2026 Acuit8 RATINGS & RESEARCH 4. Details of object(s) to be monitored: i. Cost of object{s) Source of information / Comments of the Board of Directors Original cost certifications {as per the Comments of Sr. Item considered by Revised Offer the Monitoring No. Head Monitoring Cost Reason Proposed Document) Agency Particulars of firm Agency for of Cost financing [INR er.] arrangement preparation of revision option rei:1ort No change is N/A N/A N/A Working Capital Requirements 85.00 observed. Site infrastructure facilities and As per the N/A N/A N/A adding additional No change is 2 documents 19.00 infrastructure/machines and observed. provided by the E ui ment issuer, including Expansion of Business Operations Statutory Auditors No change is N/A N/A N/A 3 directly and/or through investment 15.00 Certificate. observed. in subsidiaries No change is N/A N/A N/A 4 General Corporate Purposes 35.00 observed. Total 154.00 Report Date: August 10, 2026 Acuit8 RATINGS & RESEARCH ii. Progress in the object{s) - Source of Amount Amount utilized Comments of the Issuer's Board information as [INR Cr.J of Directors / certifications Total proposed Amount NS or. . Item Heads Atc ho gen Ms ni cod yne ir fte ood rr i tnb hgy DoI O cn uft fh mee r e nt [Ir Na Ris e Cd r. ] be [Showing first 8,000 characters — download PDF for full document]