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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..