NHAI awards 6,003 km of highway projects in FY23
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NHAI awards 6,003 km of highway projects in FY23

According to Motilal Oswal Financial Services, the infra project awarding activity picked up and gathered pace in Q4 of FY23, with NHAI awarding total projects of 6,003 km in FY23, much below its FY23 target of 6,500 km. The total value of projects awarded by NHAI was Rs 1.26 trillion in FY23, down ...

According to Motilal Oswal Financial Services, the infra project awarding activity picked up and gathered pace in Q4 of FY23, with NHAI awarding total projects of 6,003 km in FY23, much below its FY23 target of 6,500 km. The total value of projects awarded by NHAI was Rs 1.26 trillion in FY23, down 15 per cent YoY. NHAI’s highway construction pace increased 13 per cent YoY to 4,882 km in FY23. Out of which Andhra Pradesh received the highest number of projects (32) and made up 16 per cent of the total value of projects awarded. Five states, namely Andhra Pradesh, Bihar, Uttar Pradesh, Jharkhand, and Telangana made up 54 per cent of the total value of projects awarded in FY23. The infra sector will remain in focus due to consistent efforts of asset monetization and softening of the input prices which will improve the margins of many infra players in FY24. NHAI's primary focus is on asset monetisation to raise funds outside of budget resources. In FY24, NHAI InVIT aims to raise Rs 75-80 billion in the third round of asset monetisation. In the previous two rounds, it has successfully raised Rs 94.3 billion in total during FY22 and FY23. In FY24, NHAI intends to monetise 1,987 km of highways and has identified 30 national highway sections as part of its plan.

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