+
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  

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code