NIIF to sell $1 bn worth of road projects

24 Oct 2023 CW Team

India's sovereign-backed National Investment and Infrastructure Fund (NIIF) is reportedly considering the sale of its inaugural portfolio comprising five road projects with an estimated enterprise value of approximately Rs 10,000 crore ($1.2 billion). Sources privy to this development have disclosed that NIIF has engaged the services of investment bank JP Morgan to oversee the sale process for this road assets portfolio. While formal negotiations are yet to commence, these discussions remain confidential as of now.

According to anonymous sources, one of them describing this as a significant event, this portfolio represents one of the largest road assets to enter the market recently, based on its valuation. The road projects, currently operational, are held under Athaang Infrastructure, a company sponsored by NIIF's Master Fund. Athaang manages five distinct assets, collectively covering over 230 kilometres of road infrastructure across regions in both northern and southern India.

Among the notable projects within this portfolio are two highways situated in Jammu and Kashmir, acquired separately by NIIF in 2022. The first, the 16.3-kilometre Qazigund Banihal Expressway, was procured from Navayuga Engineering in July 2022 for a sum of $380 million (Rs 3,163 crore). The second, the 64.5-kilometre Jammu Udhampur Highway, was acquired by Athaang in August 2022 from the Shapoorji Pallonji Group for $290 million (Rs 2,414 crore). Both of these projects are recognized as among the largest annuity projects awarded by the National Highways Authority of India.

Furthermore, NIIF also manages the 73-kilometre Kashi Tollway in Uttar Pradesh, connecting Prayagraj and Varanasi. The fund secured this project under the toll-operate-transfer (TOT) monetization programme of NHAI, with a value of Rs 3,144 crore in January 2023.

Technology

28 Oct 2025

Poonawalla Fincorp deploys five new AI solutions in digital drive

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group-promoted non-banking financial company (NBFC) focused on consumer and MSME lending, has announced the launch of five new AI-powered solutions as part of its enterprise-wide digital transformation strategy. The new systems—Early Warning System (EWS), Travel Bot, RegIntel, Employee Relations (ER) Governance Tool, and AI-based Suspicious Transaction Reporting (STR)—aim to embed artificial intelligence across PFL’s core operations. This initiative goes beyond automation to create intelligent, scalable, and compliance-ready systems t..

HGS launches AI-driven Interaction Intelligence solution

Hinduja Global Solutions (HGS), listed on the BSE and NSE, has announced the launch of Interaction Intelligence—an enterprise-grade artificial intelligence (AI) solution built on the HGS Agent X framework. The platform redefines quality assurance (QA) by transforming it from a routine customer service task into a strategic capability that delivers actionable insights and deeper understanding of customer sentiment. In an era of growing customer expectations for seamless, personalised, and proactive engagement, the Interaction Intelligence solution enables enterprises to analyse nearly 100 pe..

Godrej Properties secures RERA nod for Worli luxury project

Godrej Properties Ltd (GPL), one of India’s leading real estate developers, has received project registration from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for its upcoming residential project, Godrej Trilogy, in Worli, Mumbai. The development forms part of a joint redevelopment of a prime land parcel in one of Mumbai’s most sought-after neighbourhoods. Spread across approximately 2.63 acres, the project will include three luxury towers. The total gross revenue potential of the development is estimated to exceed Rs 100 billion. Strategically located just off Dr Annie B..