IRB Infrastructure Developers Limited has informed the Exchange that the Company has now executed the Project Implementation Agreement for the TOT-18 Project.
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IRB Infrastructure Developers has signed a Project Implementation Agreement (PIA) to act as the Project Manager for IRB Chandibhadra Tollway Private Limited (IRBCTPL), a wholly owned SPV of IRB Infrastructure Trust, for the TOT-18 Project. This follows shareholder approval via Postal Ballot on March 23, 2026, for the related party transaction. The TOT-18 Project refers to a Toll-Operate-Transfer highway project, and IRB's role is as project manager rather than direct concessionaire. The agreement is with an associate entity (IRB Infrastructure Trust/InvIT), not a fresh third-party government order.
This is an internal role assignment within the IRB group rather than a new external contract win, so direct revenue impact is limited. Investors should view this as a procedural step formalising IRB's project management role for the TOT-18 asset held by its InvIT, with no material change to the company's order book or near-term earnings outlook.