6 July 2018 Infrastructure Project (SIPL) intends to monetize its operational asset portfolio of 12 projects, proceeds of which will be utilized to (a) reduce debt at SIPL standalone level, (b) provide growth funding for the upcoming hybrid-annuity model (HAM) projects and (c) repay debt taken from Sadbhav Engineering (SADE). SADE intends to (a) focus on the highway segment, where it has the requisite expertise to execute projects, (b) move out of the irrigation segment (avoid projects with last-mile connectivity) and (c) continue with mining segment projects to keep the machinery occupied. SADEs revenue growth was muted over FY15-18 (6% CAGR) due to constrained execution in the newly ventured irrigation, mining and railway segments. However, SADE expects revenue of INR41b in FY19 and INR55b in FY20 (26 CAGR), driven by execution of the 12 HAM projects (76% of highway segment orders).