IRB Infrastructure Trust Wins NHAI TOT-18 Toll Rights in Odisha

IRB Infrastructure Trust (an arm of

) has received a Letter of Award from NHAI for a revenue-linked toll road concession in Odisha under the Toll-Operate-Transfer (TOT)-18 bundle. The trust will pay an upfront concession fee of ₹3,087 crore to secure tolling rights for 20 years. The awarded asset covers tolling, operations, maintenance, and eventual transfer of the Chandikhole–Bhadrak section of NH-16, spanning about 74.5 km. In market reaction, IRB Infra shares closed at ₹41.88 on the BSE, about 0.88% lower than the day’s opening level (as reported). This win follows the trust’s earlier TOT-17 award in November 2025, valued at ₹9,270 crore, covering a 366.096 km portfolio across key stretches in Uttar Pradesh (including parts of NH-27 and NH-731). Over the same period, the company reiterated guidance for double-digit toll revenue growth in FY26 and indicated it is on track for ₹4,000 crore in FY26 construction revenue. 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.