New Delhi, Oct. 13 -- The recent amendment to policy guidelines by the National Highway Authority of India (NHAI) for revising the wholesale price index (WPI) linking factor for toll-based national highway projects are likely to slash equity returns for such projects unless adequately compensated, said a CRISIL statement today.
The Credit Rating Information Services of India Limited (CRISIL) said, "While the change will also affect debt protection metrics, its impact on credit risk profiles will be mitigated by the presence of diversified asset pools. An evaluation of 64 toll roads, with a total investment of Rs 95,000 crore as on March 31, 2025, indicates as much."Anand Kulkarni, Director of Crisil Ratings, said, "The revision in the WPI ...