NHAI Raises ₹28,307 Crore Through InvIT and TOT Models in FY26, Nears ₹30,000 Crore Target
Asset Monetization Gains Momentum with InvIT and TOT Bundles
New Delhi, March 30: The National Highways Authority of India (NHAI) has mobilized ₹28,307 crore during the 2025–26 fiscal year through a mix of Public InvIT, Private InvIT, and Toll-Operate-Transfer (TOT) models, the government said on Monday.This includes proceeds from TOT Bundles 17 and 18. With bids already received for TOT Bundle-19 and currently under technical evaluation, NHAI is positioned to meet the government’s budgeted monetization target of ₹30,000 crore for the ongoing fiscal.
InvIT Round-5 Unlocks Value from 310 km Highway Assets
As part of its Infrastructure Investment Trust (InvIT) program, NHAI has monetized over 310 km of National Highways under InvIT Round-5.The bundle has been awarded to NHIT Western Projects Private Limited for a concession fee of ₹6,366.98 crore, with a concession period of 20 years.
InvIT-5 includes two highway stretches:
- Amravati–Chikhali–Tarsod section of NH-53 in Maharashtra, spanning 255.9 km
- Gundugolanu–Chinna Avutapalli section of NH-16 in Andhra Pradesh, covering 54.3 km
TOT Bundle-18 Monetized for ₹3,087 Crore
NHAI has also completed the monetization of TOT Bundle-18, securing ₹3,087 crore.This bundle includes the 74.5 km Chandikhole–Bhadrak stretch of NH-16 in Odisha and has been awarded to IRB Chandibhadra Tollway Private Limited for a 20-year concession period.
Under the agreement, the concessionaire will handle operation and maintenance of the highway section and collect user fees in line with National Highways Fee Rules.
Raajmarg Infra InvIT Debut Sees Strong Investor Response
Earlier in March, the NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) was listed on the Bombay Stock Exchange on March 24, 2026.RIIT secured rights to five operational highway assets across Jharkhand, Tamil Nadu, Andhra Pradesh, and Karnataka, with a total concession value of approximately ₹9,500 crore.
The acquisition was financed through a mix of equity and debt. The public issue witnessed nearly 14 times subscription, indicating strong investor participation in highway asset monetization and infrastructure investment opportunities.
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