IRB Infrastructure Trust Wins NHAI Toll Project in Odisha

09 Jan 2026 CW Team

IRB Infrastructure Trust, an arm of IRB Infrastructure Developers Ltd, has received a letter of award from the National Highways Authority of India for a revenue-linked toll road project in Odisha. Under the agreement, the trust will pay an upfront concession fee of Rs 30.87 billion to NHAI to secure tolling rights for a 20-year period.

The project involves the tolling, operation, maintenance and transfer of the Chandikhole–Bhadrak section of National Highway 16, spanning around 74.5 km, awarded under the TOT-18 bundle.

Shares of IRB Infrastructure Trust closed at Rs 41.88 apiece on Tuesday, 0.88 per cent lower than the day’s opening on the BSE. In November 2025, the trust had secured a Rs 92.7 billion NHAI project under the TOT-17 bundle, covering a 366.1-km stretch across the Lucknow–Ayodhya–Gorakhpur section of National Highway 27 and the Lucknow–Sultanpur section of National Highway 731 in Uttar Pradesh.

In the same month, the Mumbai-based highway developer reiterated its guidance for double-digit toll revenue growth in FY26 and said it remains on track to generate around Rs 40 billion in revenue from its construction business during the current financial year.

Infrastructure Urban

23 Jan 2026

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