+
HIT, owned by KKR, acquires 4 Road Assets from Macquarie India
ROADS & HIGHWAYS

HIT, owned by KKR, acquires 4 Road Assets from Macquarie India

KKR's infrastructure investment trust, the Highways Infrastructure Trust (HIT), has successfully completed the acquisition of four road assets from Macquarie India in a deal valued at Rs 30 billion. The purchase includes Gujarat Road and Infrastructure (GRICL) and Swarna Tollway (STPL), both of which possess two toll roads each. Previously, Adani Road Transport had intended to acquire these road assets for Rs 31 billion, but the deal was cancelled last month due to unsatisfactory conditions.

GRICL's toll roads are located in Gujarat, specifically the 51.6 km stretch from Ahmedabad to Mehsana on SH-41 and the 31.7 km stretch from Vadodara to Halol on SH-87, which forms part of the Delhi-Mumbai Industrial Corridor. In contrast, STPL's assets are situated in Andhra Pradesh and include a 110-km stretch from Tada to Nellore on NH-16, connecting major ports like Chennai and Krishnapatnam, as well as the 48-km Nandigama-Ibrahimpatnam-Vijayawada stretch on NH-65, which serves as a feeder traffic route to NH-16.

As of March 31, 2023, KKR holds an 89.99 per cent stake in HIT, while Canada's Ontario Teachers' Pension Plan possesses 7.51 per cent, with the remainder being owned by various institutional and non-institutional shareholders.

In addition to this acquisition, HIT is expected to emerge as the winner of a 316-km-long highway asset through the ToT 12 auction conducted by the National Highways Authority of India. HIT submitted the highest bid of Rs 41.81 billion for this auction, which covers a single road stretch from Lalitpur to Lakhnadon on NH26 in Madhya Pradesh. This particular stretch is included in the 12th bundle of roads offered under the toll-operate-transfer deal.

KKR's infrastructure investment trust, the Highways Infrastructure Trust (HIT), has successfully completed the acquisition of four road assets from Macquarie India in a deal valued at Rs 30 billion. The purchase includes Gujarat Road and Infrastructure (GRICL) and Swarna Tollway (STPL), both of which possess two toll roads each. Previously, Adani Road Transport had intended to acquire these road assets for Rs 31 billion, but the deal was cancelled last month due to unsatisfactory conditions.GRICL's toll roads are located in Gujarat, specifically the 51.6 km stretch from Ahmedabad to Mehsana on SH-41 and the 31.7 km stretch from Vadodara to Halol on SH-87, which forms part of the Delhi-Mumbai Industrial Corridor. In contrast, STPL's assets are situated in Andhra Pradesh and include a 110-km stretch from Tada to Nellore on NH-16, connecting major ports like Chennai and Krishnapatnam, as well as the 48-km Nandigama-Ibrahimpatnam-Vijayawada stretch on NH-65, which serves as a feeder traffic route to NH-16.As of March 31, 2023, KKR holds an 89.99 per cent stake in HIT, while Canada's Ontario Teachers' Pension Plan possesses 7.51 per cent, with the remainder being owned by various institutional and non-institutional shareholders.In addition to this acquisition, HIT is expected to emerge as the winner of a 316-km-long highway asset through the ToT 12 auction conducted by the National Highways Authority of India. HIT submitted the highest bid of Rs 41.81 billion for this auction, which covers a single road stretch from Lalitpur to Lakhnadon on NH26 in Madhya Pradesh. This particular stretch is included in the 12th bundle of roads offered under the toll-operate-transfer deal.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?