IRB

IRB Infra Trust : Co. Commences Tolling on TOT-17 Project • 🛣️ Tolling Starts: IRB Harihara Corridors (SPV of IRB Infra Trust) has commenced toll collection from Jan 23, 2026 on the Lucknow–Ayodhya–Gorakhpur (NH-27) and Lucknow–Sultanpur (NH-731) corridors • 💰 Large Upfront Payment: SPV paid ₹9,270 Cr upfront concession fee to NHAI after achieving financial closure, indicating strong balance-sheet backing • ⏳ Long Revenue Visibility: Project awarded for a 20-year revenue-linked concession, enhancing long-term cash-flow certainty • 🏗️ Asset Scale Boost: TOT-17 adds ~366 km highway length (≈435 km tollable) to IRB’s InvIT portfolio, strengthening its dominant position in TOT assets 🟢 Impact: Positive Start of tolling converts a large investment into steady annuity-like cash flows, improves InvIT revenue visibility, and reinforces IRB’s leadership in India’s TOT highway space.