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.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..