Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
IRB Infrastructure Developers has moved to transfer its Gandeva Ena project on the Delhi-Mumbai Greenfield Expressway to its publicly listed InvIT fund. Spanning 27.5 km at a cost of INR 1,702 crore, the project recently received a provisional completion certificate and is generating revenue. The transfer aligns with the company's strategy to unlock capital, ensure long-term cash flow for the InvIT, and support future growth. The eight-lane project, located in Gujarat, is part of NHAI's Package-VII under the Bharatmala Pariyojana.
IRB Infrastructure Developers has proposed transferring its Gandeva Ena project, which is part of the upcoming Delhi-Mumbai Greenfield Expressway, to the IRB InvIT Fund. The project covers a 27.5 km stretch, equivalent to 220 lane km, with a total cost of INR 1,702 crore. Advertisement
The company's board approved a preliminary non-binding proposal for the transfer. The IRB InvIT Fund is a publicly listed Infrastructure Investment Trust sponsored by the company. This move is part of IRB's bid-execute-stabilise-transfer strategy aimed at unlocking capital and supporting growth.
Virendra D Mhaiskar, Chairman and Managing Director of IRB, explained that offering this second Hybrid Annuity Model (HAM) asset to the public InvIT ensures long-term cash flow visibility for the fund while freeing up capital to support the company's future projects.
The Gandeva Ena HAM project recently received a provisional completion certificate and is now a revenue-generating asset within IRB's portfolio. This eight-lane highway is located in Gujarat and is part of NHAI's Package-VII under the larger Bharatmala Pariyojana initiative. The project is being executed by VM7 Expressway Private Limited, a wholly-owned subsidiary of IRB, under a concession granted by the National Highways Authority of India.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
