IRB Infrastructure Trust wins major highway project in Uttar Pradesh

IRB Infrastructure Trust has received a Letter of Award from the National Highways Authority of India (NHAI) for the TOT-17 project. This project involves Tolling, Operation, Maintenance, and Transfer of sections of NH-28 (New NH-27) and NH-731 in Uttar Pradesh. The project spans 366.096 kilometers across the Lucknow-Ayodhya, Ayodhya-Gorakhpur, and Lucknow-Sultanpur sections. This 20-year revenue-linked concession requires an upfront bid concession fee of Rs. 9,270 Crores.

This award significantly expands IRB Group's portfolio, with its asset base now expected to exceed Rs. 90,000 Crores, an increase of approximately 20%. The company's market share in the Toll-Operate-Transfer (TOT) segment will rise to 42%, while the O&M Order Book is projected to grow by about 20%. Annual tariff revisions will include a fixed 3% increase plus 40% of the Wholesale Price Index (WPI).

IRB Infrastructure Developers Ltd. will serve as the project manager for this undertaking. The company, a leading integrated multi-national transport infrastructure developer, currently manages an asset base of over Rs. 80,000 Crores across 12 states.