KKR-backed HIT in mega road acquisition

16 Jan 2024 CW Team

The acquisition, subject to regulatory and customary conditions, including approvals from regulatory authorities and banks, involves a portfolio comprising 11 hybrid annuity concessions from the National Highways Authority of India (NHAI) and one toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). The projects span approximately 3,800 lane kilometres across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka.

Ten out of the 12 projects are currently operational, while the remaining two are under construction and will be acquired post their operational commencement. The hybrid annuity concessions involve NHAI contributing 40 per cent of the total project expenditure, with the developer arranging the rest.

Neeraj Sanghi, CEO of Highway Concessions One, the investment manager of the trust, expressed the significance of this transaction in the roads sector. He highlighted the commitment to growth and delivering value to unit holders through the acquisition of this substantial portfolio. Gaurav Chandna, Head of Strategic Finance at Highway Concessions One, emphasized the annuity nature of cash flows from the road portfolio, providing stability to the existing portfolio.

Chandna further stated, "This investment is in line with our thesis of acquiring assets with long balance concession life, generating predictable distributions for our unitholders. With this transaction and other signed (and announced) transactions, HIT?s assets under management are estimated to cross Rs 20,000 crore, marking a significant fourfold increase since the initial listing."

The acquisition aligns with HIT's strategic vision, emphasizing long-term value creation and stability, positioning the trust as a key player in the evolving landscape of the Indian road and highways sector.

In a significant move, KKR-backed Highways Infrastructure Trust (HIT) is set to acquire 12 road projects from PNC Infratech and PNC Infra Holdings, marking one of the most substantial acquisitions in the road and highways sector. The enterprise value of this strategic transaction is estimated at Rs 9,005.7 crore. The acquisition, subject to regulatory and customary conditions, including approvals from regulatory authorities and banks, involves a portfolio comprising 11 hybrid annuity concessions from the National Highways Authority of India (NHAI) and one toll road concession from the Uttar Pradesh State Highways Authority (UPSHA). The projects span approximately 3,800 lane kilometres across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka. Ten out of the 12 projects are currently operational, while the remaining two are under construction and will be acquired post their operational commencement. The hybrid annuity concessions involve NHAI contributing 40 per cent of the total project expenditure, with the developer arranging the rest. Neeraj Sanghi, CEO of Highway Concessions One, the investment manager of the trust, expressed the significance of this transaction in the roads sector. He highlighted the commitment to growth and delivering value to unit holders through the acquisition of this substantial portfolio. Gaurav Chandna, Head of Strategic Finance at Highway Concessions One, emphasized the annuity nature of cash flows from the road portfolio, providing stability to the existing portfolio. Chandna further stated, This investment is in line with our thesis of acquiring assets with long balance concession life, generating predictable distributions for our unitholders. With this transaction and other signed (and announced) transactions, HIT?s assets under management are estimated to cross Rs 20,000 crore, marking a significant fourfold increase since the initial listing. The acquisition aligns with HIT's strategic vision, emphasizing long-term value creation and stability, positioning the trust as a key player in the evolving landscape of the Indian road and highways sector.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Infrastructure Urban

06 Nov 2025

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Infrastructure Transport

06 Nov 2025

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..