IRB Infrastructure Developers Limited has informed the Exchange regarding 'Update provided by IRB Infrastructure Trust regarding receipt of Letter of Award for the Project TOT-18'.
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IRB Infrastructure Trust, an associate (Private InvIT) of IRB Infrastructure Developers, has received the Letter of Award from NHAI for the TOT-18 project covering the 74.5 km Chandikhole-Bhadrak section of NH-16 in Odisha. The Trust will pay an upfront concession fee of Rs. 3,087 Crores to NHAI for a 20-year revenue-linked concession, with annual toll revision fixed at 3% plus 40% of WPI. IRB Infrastructure Developers will serve as the Project Manager. This is the group's first project in Odisha (13th state overall) and part of India's prestigious Golden Quadrilateral. Post-award, the group's asset base is expected to reach ~Rs. 94,000 Crores, TOT market share to rise to ~44%, and O&M order book to grow by ~Rs. 1,600 Crores.
Positive for shareholders — the project expands IRB's portfolio, boosts O&M order book by ~Rs. 1,600 Crores, and combined with TOT-17 is expected to add ~Rs. 1,000 Crores in toll revenues in FY27, supporting future earnings growth and reinforcing IRB's leadership as India's largest private toll road operator.