Mumbai, Nov. 17 -- IRB Infrastructure Trust received the Letter of Award from the National Highways Authority of India (NHAI) for the TOT 17 bundle. The award covers 366 km across the Lucknow-Ayodhya-Gorakhpur corridor on NH 27 and the Lucknow-Sultanpur stretch on NH 731. The Trust will pay an upfront concession fee of Rs 9,270 crore for a 20 year revenue linked contract.

The TOT 17 project lifts the Trust's asset base to about Rs 65,000 crore. The IRB Group's overall portfolio will also cross Rs 90,000 crore. Management said this win strengthens IRB's position in the highway monetisation space. Its market share in TOT projects now rises to 42%. The project adds long term visibility to toll revenues and cash flows. It also expands the gr...