IRB Infrastructure Developers Limited has informed the Exchange regarding update provided by IRB Infrastructure Trust regarding receipt of LOA for TOT-17.
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IRB Infrastructure Developers has informed the stock exchange that its associated entity, IRB Infrastructure Trust (an InvIT), has received a Letter of Award (LOA) for the TOT-17 project. TOT (Toll-Operate-Transfer) is a highway monetization model run by NHAI, where existing toll road stretches are awarded to private players for a fixed concession period to collect toll revenue. TOT-17 is part of the latest bundle of highway assets being offered by NHAI under this program. The award adds a new toll road asset to IRB Infrastructure Trust's portfolio, strengthening its highway operations business.
This is a positive development for IRB Infrastructure as it expands the toll-road portfolio of its InvIT, which should translate into steady toll-based cash flows over the concession period. The stock may see a positive reaction, though the exact financial value of the LOA is not disclosed in the filing.