Highways Infrastructure Trust adds 10 HAM highway projects from PNC

04 Jun 2025 CW Team

Highways Infrastructure Trust (HIT), a SEBI-registered InvIT, has added 10 operational Hybrid Annuity Model (HAM) highway projects from PNC Infratech to its portfolio. Spanning around 3,400 lane km, these assets are located across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka.

With this acquisition, HIT’s Assets Under Management (AUM) is expected to rise to around Rs 250 billion—up 2.5 times from March 2024. The new assets are projected to contribute approximately 40 per cent to revenue and 32 per cent to AUM.

The acquired projects include PNC Rajasthan Highways, Chitradurga Highways, Bithur Kanpur, Triveni Sangam, Aligarh, Gomti, Unnao, Meerut Haridwar, Bundelkhand, and Khajuraho Highways. This deal forms part of a larger 12-project acquisition announced in January 2024 between HIT and PNC Infratech and its holding company.

The remaining two projects—Bareilly Nainital and Chalkere Hariyur—will be transferred after obtaining required approvals.

Gaurav Chandna, Executive Director and Joint CEO of HIT, said the acquisition strengthens HIT’s leadership among Indian highway InvITs and supports a balanced mix of annuity and toll projects. Dr. Zafar Khan, also Joint CEO, emphasised HIT’s focus on operational excellence and sustainable asset management aligned with regional development goals.

Infrastructure Urban

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