IRB Infrastructure Developers Limited has informed the Exchange regarding 'Update on Arbitration proceeding of Kaithal Tollway Limited (KTL) Project SPV of IRB InvIT Fund'.
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IRB Infrastructure's project SPV, Kaithal Tollway Limited (KTL), under the IRB InvIT Fund, has received a unanimous Arbitral Award dated February 27, 2026, in an arbitration case filed against the National Highways Authority of India (NHAI). As the Sponsor and Project Manager of KTL, IRB Infrastructure is entitled to receive Rs. 273.54 crore along with applicable interest until realisation. Additionally, the company will benefit from a 136.77-day extension of the Concession Period to compensate for construction delays caused by NHAI. This is a favorable outcome that strengthens the company's claim recovery from a key government counterparty.
This is a positive development for IRB Infrastructure shareholders, as the company stands to recover a significant Rs. 273.54 crore plus interest from NHAI, which could boost earnings and cash flows. The additional concession period extension also enhances long-term project value, likely to be viewed favorably by the market.