+
PNC Infratech Sells Stake in Ten Road SPVs to HIT
ROADS & HIGHWAYS

PNC Infratech Sells Stake in Ten Road SPVs to HIT

PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has completed the sale of equity stake in ten road assets to Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust sponsored by affiliates of KKR & Co Inc. The handover of these Special Purpose Vehicles (SPVs) took place on 21st and 22nd May 2025.

The divestment forms part of a transaction originally announced in January 2024, involving 12 road assets—11 national highway hybrid annuity mode (HAM) projects and one state highway BOT toll project. These assets cover approximately 3,800 lane-kilometres across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan.

The ten HAM assets sold under Tranche I fetched an equity consideration of Rs 18.28 billion, post scope adjustments. Additionally, PNC will receive Rs 6.24 billion for change-of-scope works and Rs two billion in other receivables, not included in the equity consideration. The original equity invested in these assets was Rs 13.71 billion.

Sale of the remaining two assets is expected in the first half of FY26, subject to conditions precedent. The transaction aligns with PNC’s strategy to recycle capital and invest in new infrastructure opportunities.

Source:
Press release issued by PNC Infratech Limited  

PNC Infratech Limited, along with its wholly owned subsidiary PNC Infra Holdings Limited, has completed the sale of equity stake in ten road assets to Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust sponsored by affiliates of KKR & Co Inc. The handover of these Special Purpose Vehicles (SPVs) took place on 21st and 22nd May 2025. The divestment forms part of a transaction originally announced in January 2024, involving 12 road assets—11 national highway hybrid annuity mode (HAM) projects and one state highway BOT toll project. These assets cover approximately 3,800 lane-kilometres across Uttar Pradesh, Madhya Pradesh, Karnataka, and Rajasthan. The ten HAM assets sold under Tranche I fetched an equity consideration of Rs 18.28 billion, post scope adjustments. Additionally, PNC will receive Rs 6.24 billion for change-of-scope works and Rs two billion in other receivables, not included in the equity consideration. The original equity invested in these assets was Rs 13.71 billion. Sale of the remaining two assets is expected in the first half of FY26, subject to conditions precedent. The transaction aligns with PNC’s strategy to recycle capital and invest in new infrastructure opportunities. Source: Press release issued by PNC Infratech Limited  

Next Story
Real Estate

Manglam, Fern Hotels Sign 200+ Key Apart’otel in Jaipur’s Pinkwalk

Manglam Group has signed a 200+ key serviced apart’otel under the Fern Habitat brand in Jaipur, marking a key milestone in its Rs 10 billion hospitality investment strategy. Located within Pinkwalk, Manglam’s flagship mixed-use development in Jagatpura, the project will cater to both short and extended-stay travellers with apartment-style units paired with hotel services. The Fern Habitat Pinkwalk will offer fully serviced accommodations with kitchenettes, daily housekeeping, and on-site dining. The concept blends the independence of apartment living with the comfort of hotel-grade am..

Next Story
Real Estate

Schon Doorways Launches Monsoon-Ready Aluminium Casement Windows

Schon Doorways, a premium player in doors and window solutions, has launched its new range of aluminium casement and sliding windows, designed specifically to endure the Indian monsoon. Engineered with high-performance tempered glass and ultra-slim aluminium profiles, the windows combine aesthetic appeal with monsoon resilience. Available in single and double track options, the windows offer anti-collision strips, flyscreens, and high load-bearing strength—providing protection against heavy rains, strong winds, and pests. Wall thickness ranges from 1.6 mm to 5.00 mm, offering flexibilit..

Next Story
Resources

LG Charts Global HVAC Leadership With AI, Acquisitions and Localisation

LG Electronics has unveiled a strategic roadmap to transform its ES Company into a top-tier global HVAC solutions provider by 2030, targeting KRW 20 trillion in revenue. The plan, announced at LG Sciencepark, South Korea, focuses on expanding B2B industrial sales, advancing AI-based technologies for data centres, and strengthening localised operations across key regions. Central to LG’s roadmap is growth in the fast-expanding data centre cooling segment. With the global chiller market projected to reach USD 12 billion by 2027, LG aims for KRW 1 trillion in sales by 2027. The company has..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?