PNC Infratech Completes Sale of Challakere Highway Stake

01 Apr 2026 CW Team

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.

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.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

Infrastructure Transport

02 Apr 2026

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Technology

02 Apr 2026

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..