Overview
- IRB Infrastructure Trust received a Letter of Award from NHAI for the TOT-17 package in Uttar Pradesh for an upfront consideration of Rs 9,270 crore.
- The bundle spans 366 km across the Lucknow–Ayodhya–Gorakhpur stretch on NH-27 and part of the Lucknow–Varanasi corridor on NH-731 under a 20-year revenue-linked concession.
- The InvIT-sponsored platform will undertake tolling and operations under NHAI’s asset monetisation programme.
- IRB says the project should close by the end of this fiscal year, with management expecting the asset to lift group toll collections by 8–10% and begin contributing from the next full fiscal year.
- IRB Infrastructure Developers’ stock rose as much as about 7% intraday before ending roughly 3–4% higher, while the company highlighted stronger O&M execution at 25–30%, about Rs 4,000 crore slated for FY26, and net debt-to-equity of around 0.6x.