IRB associate trust signs concession deal with NHAI for TOT-18 highway project

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-1.0%+1.3% vs market

Civil Construction peers, median of 92sector-1.2%+1.5% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Smallcap 250 and 1.5 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

IRB Infrastructure Trust, an associate of IRB Infrastructure, has executed a concession agreement with NHAI for the TOT-18 project. The project covers tolling, operation, maintenance and transfer of a 74.5 km stretch of NH-16 in Odisha. The trust will pay an upfront concession fee of Rs 3,087 crore to NHAI for a 20-year revenue-linked concession period. Tariff will rise 3% annually plus 40% of WPI. IRB Infrastructure will act as the project manager.

Likely market impact

Major highway concession win strengthens IRB Groups order pipeline. Project manager role adds recurring revenue and fee income for IRB Infrastructure Developers.