The National Highways Authority of India (NHAI) has collected Rs 28,307 crore using Public InvIT, Private InvIT, and Toll-Operate-Transfer (TOT) models, including TOT Bundles 17 and 18 for FY 2025–26. NHAI is on track to meet the government’s fiscal target of Rs 30,000 crore with bids underway for TOT Bundle-19, currently in the technical evaluation phase.
NHAI has successfully monetized over 310 km of National Highways under InvIT Round-5 as part of its Infrastructure Investment Trust (InvIT) program. NHIT Western Projects Private Limited has been awarded InvIT-5 for a concession fee of Rs 6,366.98 crore for a 20-year period, encompassing key National Highway sections in Maharashtra and Andhra Pradesh.
The assets in InvIT-5 include toll plazas like Nashirabad, Dasarkhed, Taroda Kasba, Kurankhed, and Kalaparru. NHAI has also realized Toll-Operate-Transfer (TOT) Bundle-18 for Rs. 3,087 crore, which involves the Chandikhole–Bhadrak section of NH-16 in Odisha. IRB Chandibhadra Tollway Private Limited has been awarded TOT-18 for a 20-year concession period.
The concessionaire for TOT-18 will manage the operation and maintenance of the National Highway section and collect user fees in compliance with the National Highways Fee Rules. Recently, the NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) had its maiden public issue listed on the Bombay Stock Exchange (BSE) on March 24, 2026. RIIT secured rights to five operational National Highway assets in Jharkhand, Tamil Nadu, Andhra Pradesh, and Karnataka, with a total concession value of around Rs 9,500 crore.
