NHAI Nears ₹30,000 Crore Asset Monetisation Target with ₹28,307 Crore Realised in FY26

In a major boost to India's infrastructure financing strategy, the National Highways Authority of India (NHAI) has achieved ₹28,307 crore through asset monetisation in FY 2025–26, putting it firmly on track to meet the Government of India's budgeted target of ₹30,000 crore for the current financial year.

The milestone has been achieved through a strategic mix of Public InvIT, Private InvIT, and Toll-Operate-Transfer (TOT) models, reinforcing investor confidence and showcasing the maturity of India's highway monetisation framework. With bids already received for TOT Bundle-19, currently under technical evaluation, NHAI is expected to comfortably meet or exceed its annual target.

InvIT-5 Unlocks ₹6,366 Crore from 310 km Highway Assets

A key contributor to this achievement is the successful monetisation of over 310 km of National Highways under InvIT Round-5, awarded to NHIT Western Projects Private Limited for a concession value of ₹6,366.98 crore over a 20-year period.

The InvIT-5 bundle includes two strategically important highway stretches:

• 255.9 km Amravati–Chikhali–Tarsod section (NH-53) in Maharashtra

• 54.3 km Gundugolanu–Chinna Avutapalli section (NH-16) in Andhra Pradesh

These corridors include multiple toll plazas such as Nashirabad, Dasarkhed, Taroda Kasba, Kurankhed, and Kalaparru, ensuring steady revenue streams for investors.

TOT Bundle-18 Fetches ₹3,087 Crore

Further strengthening its monetisation pipeline, NHAI successfully awarded TOT Bundle-18 for ₹3,087 crore to M/s IRB Chandibhadra Tollway Private Limited.

The bundle comprises the 74.5 km Chandikhole–Bhadrak section of NH-16 in Odisha, with a 20-year concession period. Under this model, the concessionaire will undertake operation and maintenance of the highway while collecting user fees as per National Highways Fee Rules.

The success of TOT-18 highlights the continued attractiveness of India's operational highway assets to private investors seeking stable, long-term returns.

RIIT Public Issue Oversubscribed 14 Times

In another landmark development, the NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) made a strong debut on the Bombay Stock Exchange (BSE) on March 24, 2026.

The public issue was oversubscribed nearly 14 times, reflecting robust investor confidence in:

• India's infrastructure growth story

• Government-backed monetisation programmes

• Long-term revenue potential of highway assets

RIIT has secured rights to five operational highway assets across Jharkhand, Tamil Nadu, Andhra Pradesh, and Karnataka, with a total concession value of approximately ₹9,500 crore. The acquisition has been financed through a balanced mix of equity and debt.

Structured Monetisation Driving Infrastructure Expansion

NHAI's asset monetisation strategy focuses on unlocking value from operational, revenue-generating highway assets, allowing it to reinvest capital into new infrastructure development without increasing fiscal burden.

Key benefits of the approach include:

• Mobilising private capital for public infrastructure

• Ensuring efficient asset management and maintenance

• Creating investment-grade infrastructure assets

• Accelerating highway expansion under programmes like Bharatmala

Strong Momentum for FY26 Target Achievement

With ₹28,307 crore already realised and additional inflows expected from TOT Bundle-19, NHAI is well-positioned to meet its FY26 target.

The consistent success of InvITs and TOT models signals a structural shift in how India finances large-scale infrastructure—moving toward market-driven, transparent, and sustainable funding mechanisms.

A Model for Infrastructure Financing

NHAI's performance underscores the effectiveness of asset monetisation as a cornerstone of India's infrastructure policy. By leveraging mature assets, the authority is not only reducing dependence on budgetary support but also deepening capital market participation in infrastructure.

As India continues its rapid highway expansion, such innovative financing models will be critical in sustaining growth while maintaining fiscal discipline.