PNC Infratech Limited, together with its wholly owned subsidiary PNC Infra Holdings Limited, has completed the sale of its equity stake in PNC Challakere (Karnataka) Highways Private Limited, a Hybrid Annuity Mode road project, to Vertis Infrastructure Trust, an infrastructure investment trust sponsored by affiliates of KKR. This transaction completed the final tranche of a strategic divestment initiative that was announced in January 2024. The transfer was completed on March 27, 2026 and follows prior divestments under the same programme. The definitive agreements signed earlier covered a portfolio of 12 road assets comprising 11 national highway Hybrid Annuity Mode projects and one state highway build-operate-transfer toll project, with a total aggregate length of approximately 3,800 lane-km across Uttar Pradesh, Madhya Pradesh, Karnataka and Rajasthan. With the transfer of the Challakere project the company has now divested all 12 assets under the agreement. The assets were at various stages of operation and were included in the monetisation programme to release capital tied up in road projects. The transaction concluded at an enterprise value of Rs 6,838.4 million (mn), which included Rs 804.8 mn received towards equity and Rs 1,349.4 mn received towards unsecured loans on March 27, 2026. Completion of the sale represents a key milestone in the company's asset monetisation strategy and will enable it to unlock value from its operational portfolio. Proceeds received on completion will be reflected in the company accounts in accordance with customary regulatory and accounting processes. Management expects the proceeds to strengthen the balance sheet and enhance financial capacity to pursue future investment opportunities while allowing the group to focus resources on core operations and project execution. The company indicated that the divestment strategy is intended to optimise capital allocation and support sustainable growth. The company will retain operational focus on delivering ongoing projects while leveraging improved liquidity to evaluate new bids and strategic investments.