IRB Infrastructure Trust Wins NHAI Project for ₹3,087 Crore in Odisha
IRB Infrastructure Trust received a Letter of Award from NHAI for the Chandikhole-Bhadrak section of NH-16 in Odisha (TOT Bundle 18). The project involves a ₹3,087 Crore upfront payment for a 20-year concession. This expands IRB's footprint to 13 states, with projected revenue enhancement and asset base growth.
The new project involves a significant upfront payment and is expected to contribute substantially to the company's revenue and asset portfolio, marking a key expansion into a new state.
The company has secured a new project, which is expected to enhance its revenue and asset base, indicating positive business growth.
IRB Infrastructure Trust, an associate of IRB Infrastructure Developers Limited, has received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the Tolling, Operation, Maintenance and Transfer (TOT) of the Chandikhole - Bhadrak Section of NH-16 in Odisha. This project, spanning approximately 74.50 km, is part of TOT Bundle 18.
The Trust will pay an upfront Bid Concession Fee of ₹3,087 Crores to NHAI for a revenue-linked Concession Period of 20 years. The annual tariff revision will be fixed at 3% per annum plus 40% of the Wholesale Price Index (WPI). IRB Infrastructure Developers Ltd. will serve as the Project Manager for this endeavor.
This award marks IRB Group's entry into Odisha, its 13th Indian state and second in Eastern India. The company anticipates that the addition of TOT-17 and TOT-18 will enhance toll revenues by approximately ₹1,000 Crores in FY27. Following this project, the IRB Group's asset base is expected to reach approximately ₹94,000 Crores, and its market share in the TOT segment is projected to rise to around 44%. The group's O&M order book is also expected to grow by approximately ₹1,600 Crores.
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IRB Infrastructure Developers Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. 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.