IRB Infra's SPV Achieves Provisional COD for Gandeva to Ena Expressway Project
The project's completion and the commencement of annuity payments represent a significant positive development for IRB's revenue stream and overall financial health.
The announcement highlights the achievement of Provisional COD for a significant expressway project, leading to annuity payments and strengthened financial position.
* IRB Infrastructure Developers' SPV, VM7 Expressway Private Ltd., has received the Provisional Completion Certificate for the Gandeva to Ena Expressway project in Gujarat, effective May 31, 2025. * The project involves the construction of an eight-lane access-controlled expressway from Km 190.000 to Km 217.500 of the Vadodara-Mumbai Expressway, with an operative project length of 25.07 Kms out of a total length of 27.50 Kms. * The SPV is now eligible to receive bi-annual annuity payments from NHAI for the operation period of 15 years. * The project is expected to generate cash receipts of approximately ₹180 crore annually in the form of annuity. * According to Mr. Virendra D. Mhaiskar, the project will generate annuity revenues of about ₹180 crore annually, providing strong and stable cash flows and further strengthening the Company’s financial position.
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IRB Infrastructure Developers Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by IRB Infrastructure Developers Limited. Read the original for the full detail.