Favourable response to the third TOT bundle critical for the success of TOT as a model
Parameter | First bundle | Second bundle | Third bundle |
Number of stretches | 9 | 8 | 9 |
Golden quadrilateral stretches | 6 | 0 | 0 |
Location | 6 in Andhra Pradesh; 3 in Gujarat | 3 in West Bengal, 2 each in Gujarat and Rajasthan and 1 in Bihar | 4 in Tamil Nadu, 3 in Uttar Pradesh and one each in Bihar and Jharkhand |
Median toll collection track record (years) | 10.89 | 6.65 | 7 |
Toll collections in FY2018 (Rs crore) | 513.38 | 299.12# | 337.61 |
Total length | 681 | 587 | 566 |
IECV* | 6258 | 5362 | 4995 |
IECV/Toll collection in FY2018 | 12.2 | 17.9 | 14.8 |
H1 Bid / Toll collection in FY2018 | 18.9 | 15.4 | - |
Source: ICRA research, NHAI; #Some of them were OMT contracts for which full revenues were not reported in FY2018; *IECV: Initial Estimated Concession Value of Authority; ^Macquarie secured first bundle for Rs 9,681.5 crore (55 per cent higher than IECV, H1-H2 of 29 per cent) |