India’s Highways Infrastructure Trust (HIT), a SEBI-registered infrastructure investment company, has added the Nagpur–Hyderabad corridor of NH 44 to its toll road portfolio.
The 252km, four-lane corridor, secured under Toll-Operate-Transfer (TOT) Bundle 16, will be managed by HIT’s wholly owned special purpose vehicle, North Telangana Expressway Private Limited.
The addition marks HIT’s first TOT project, increasing its assets under management (AUM) to approximately ₹17,000 crore (approximately US$1.96bn) – three times its valuation since listing in 2022.
The AUM is projected to surpass ₹25,000 crore (US$2.88bn) as additional transactions are finalised.
HIT secured the 20-year tolling concession for a fee of ₹6,661 crore (US$768m).
The Nagpur–Hyderabad corridor, part of NH 44, serves as a vital logistics link for North-South traffic in India, facilitating the movement of goods between key industrial and consumption hubs across 12 states.
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Gaurav Chandna, executive director and joint CEO of HIT, said: “The successful addition of TOT Bundle 16 reaffirms our commitment to creating long-term value for all stakeholders.
“This project significantly strengthens our leadership in the highways InvIT space.”
The corridor enhances HIT’s portfolio, which now includes 16 toll road concessions covering approximately 4,640 lane kilometres across nine states.
The portfolio comprises a mix of Build-Operate-Transfer (BOT) Toll, BOT Annuity, Hybrid Annuity Model (HAM), and TOT assets.
Dr Zafar Khan, executive director and joint CEO of HIT, emphasised the strategic importance of the acquisition: “TOT Bundle 16 exemplifies our strategy of identifying high-potential projects that drive the country’s growth while enhancing the value proposition for investors.
“Our focus remains on delivering a world-class experience to commuters, improving road safety and using sustainable practices to operate our roads for the future.”
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