New Delhi, July 2 -- Awarding of road construction projects by National Highway Authority of India (NHAI) have remained tepid for the second year in a row. A report by Nuvama Institutional Equities noted that pace of construction of roads however increased.

The report noted that recently-concluded financial year 2024-25 paints a bearish outlook and a challenging times for road developers.

In its report 'Road sector: Potholes galore', Nuvama asserted that road awarding remained tepid in 2024-25 due to the government's decision to halt project awards under the Bharatmala programme.

Besides, no increase in road capital expenditure in the Budget for 2025-26 also implies that a pickup in road awards is unlikely in the near term, added the r...