NHAI Nears Fiscal Year 2025–26 Monetisation Target

02 Apr 2026 CW Team

NHAI reported that InvIT Round?5 resulted in monetisation of over 310 km of national highways and that InvIT?5 has been awarded to NHIT Western Projects Private Limited for a concession fee of Rs. 63,669.8 mn for 20 years. The InvIT package comprises two highway sections, namely the 255.9 km Amravati–Chikhali–Tarsod stretch of NH?53 in Maharashtra and the 54.3 km Gundugolanu–Chinna Avutapalli stretch of NH?16 in Andhra Pradesh, and includes multiple toll plazas. The transactions form part of a structured Infrastructure Investment Trust programme designed to attract long?term capital.

TOT Bundle?18 was awarded to M/s IRB Chandibhadra Tollway Private Limited for a concession fee of Rs. 30,870 mn for a period of 20 years for the 74.5 km Chandikhole–Bhadrak section of NH?16 in Odisha. Under the arrangement, the concessionaire will undertake operation and maintenance of the section and collect user fee in accordance with the National Highways Fee Rules. The award is cited as reinforcing the toll?operate?transfer mechanism as a monetisation route.

The maiden public issue of the NHAI?sponsored Raajmarg Infra Investment Trust was listed on the Bombay Stock Exchange on 24th March 2026 after securing rights to five operational highway assets for a total concession value of approximately Rs. 95,000 mn. The acquisition was financed through a mix of equity and debt and the public issue was oversubscribed nearly 14 times, signalling investor confidence in the infrastructure asset class. NHAI stated that these milestones underline its focus on leveraging operational assets to mobilise funds for national highway development.

The National Highways Authority of India (NHAI) said it has realised Rs. 283,070 mn through a mix of public Infrastructure Investment Trust (InvIT), private InvIT and Toll?Operate?Transfer (TOT) models, positioning it close to the Government of India’s budgeted monetisation target of Rs. 300,000 mn for fiscal year 2025–26. Bids for TOT Bundle?19 are under technical evaluation and are expected to further strengthen the mobilisation of resources. The realised amount includes proceeds from InvIT rounds and TOT bundles that were awarded during the fiscal year. NHAI reported that InvIT Round?5 resulted in monetisation of over 310 km of national highways and that InvIT?5 has been awarded to NHIT Western Projects Private Limited for a concession fee of Rs. 63,669.8 mn for 20 years. The InvIT package comprises two highway sections, namely the 255.9 km Amravati–Chikhali–Tarsod stretch of NH?53 in Maharashtra and the 54.3 km Gundugolanu–Chinna Avutapalli stretch of NH?16 in Andhra Pradesh, and includes multiple toll plazas. The transactions form part of a structured Infrastructure Investment Trust programme designed to attract long?term capital. TOT Bundle?18 was awarded to M/s IRB Chandibhadra Tollway Private Limited for a concession fee of Rs. 30,870 mn for a period of 20 years for the 74.5 km Chandikhole–Bhadrak section of NH?16 in Odisha. Under the arrangement, the concessionaire will undertake operation and maintenance of the section and collect user fee in accordance with the National Highways Fee Rules. The award is cited as reinforcing the toll?operate?transfer mechanism as a monetisation route. The maiden public issue of the NHAI?sponsored Raajmarg Infra Investment Trust was listed on the Bombay Stock Exchange on 24th March 2026 after securing rights to five operational highway assets for a total concession value of approximately Rs. 95,000 mn. The acquisition was financed through a mix of equity and debt and the public issue was oversubscribed nearly 14 times, signalling investor confidence in the infrastructure asset class. NHAI stated that these milestones underline its focus on leveraging operational assets to mobilise funds for national highway development.

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