KKR unit plans $1 billion acquisition of road assets from PNC
ROADS & HIGHWAYS

KKR unit plans $1 billion acquisition of road assets from PNC

Highways Infrastructure Trust, a roads platform under KKR, is currently in discussions to purchase a portfolio of 12 road projects from Agra-based construction firm PNC Infratech for an estimated enterprise value of around Rs 90 billion (approximately $1.1 billion), according to sources familiar with the matter. If the deal is finalised, it would mark the largest acquisition of road projects in India by the US-headquartered private equity (PE) firm.

The portfolio being offered for sale consists of 11 hybrid annuity model (HAM) roads and one build-operate-transfer (BOT) road, spread across Uttar Pradesh, Madhya Pradesh, and Rajasthan. Sources stated that KKR emerged as the preferred bidder among four contenders, and the PE firm has recently commenced due diligence on the assets. The portfolio carries an enterprise value of approximately Rs 90 billion, with a debt component of around Rs 69 billion.

Out of the 12 road projects, seven are already operational, while the remaining projects are expected to become operational within the next three to four months. The sources emphasised that this portfolio represents one of the largest collections of road projects currently available for sale in the market.

Highways Infrastructure Trust, a roads platform under KKR, is currently in discussions to purchase a portfolio of 12 road projects from Agra-based construction firm PNC Infratech for an estimated enterprise value of around Rs 90 billion (approximately $1.1 billion), according to sources familiar with the matter. If the deal is finalised, it would mark the largest acquisition of road projects in India by the US-headquartered private equity (PE) firm.The portfolio being offered for sale consists of 11 hybrid annuity model (HAM) roads and one build-operate-transfer (BOT) road, spread across Uttar Pradesh, Madhya Pradesh, and Rajasthan. Sources stated that KKR emerged as the preferred bidder among four contenders, and the PE firm has recently commenced due diligence on the assets. The portfolio carries an enterprise value of approximately Rs 90 billion, with a debt component of around Rs 69 billion.Out of the 12 road projects, seven are already operational, while the remaining projects are expected to become operational within the next three to four months. The sources emphasised that this portfolio represents one of the largest collections of road projects currently available for sale in the market.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code