IRB Infrastructure Trust, the Private InvIT backed by IRB Infrastructure Developers Ltd., has received the Letter of Award from the National Highways Authority of India for the TOT-17 bundle. The project covers 366 km across the Lucknow–Ayodhya–Gorakhpur stretch of NH-27 along with part of the Lucknow–Varanasi corridor on NH-731. The concession will operate on a revenue-linked model for a period of twenty years, making it one of the highest-value monetisation awards in this category.
The company noted that the corridor holds strategic importance due to the rising movement along key religious and regional routes. Chairman and Managing Director Virendra D. Mhaiskar said the TOT-17 win further consolidates the platform’s position in the toll-operate-transfer segment, where IRB now holds a forty-two percent market share. He added that the outcome reflects continued investor confidence in India’s national highway monetisation programme and supports the group’s progress toward expanding its asset portfolio.
According to the announcement, the project scope includes tolling and operations and maintenance over the full concession term. With the addition of TOT-17, the IRB Group expects a noticeable rise in overall toll revenue, while the consolidated asset base is projected to cross ₹90,000 crore. The operations and maintenance order book is also anticipated to grow by roughly twenty percent following the award.
The TOT-17 bundle, valued at ₹9,270 crore for the upfront consideration, marks another step in NHAI’s monetisation strategy and adds a significant long-term asset to IRB Infrastructure Trust’s portfolio.
