IRB Infra Monetizes Gandeva Ena HAM Project, Trims Debt by ₹700 Crore

has finalized the sale of its Gandeva Ena (VM7) hybrid annuity mode (HAM) project to IRB InvIT Fund, securing ₹513 crore in cash for its equity stake in the project's special purpose vehicle. This move slashes consolidated debt by roughly ₹700 crore, bolstering liquidity and balance sheet strength via effective capital recycling. The asset, an eight-laning revenue-generating segment on Gujarat's New Delhi-Mumbai Greenfield Expressway under NHAI's Bharatmala Pariyojana Package VII, aligns with IRB's "Bid-Execute-Stabilise-Transfer" model. Chairman Virendra D. Mhaiskar noted it unlocks value from mature assets, funding future infrastructure bids and stakeholder returns.​ Q3 FY25 results showed revenue up 2.9% YoY at ₹2,025.4 crore and EBITDA up 13.2% at ₹984.1 crore (margin: 48.6% vs. 44.2%). Shares rose 1.77% to ₹41.32 on NSE February 2.​ Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.