IRB Infrastructure Trust, an arm of IRB Infrastructure Developers Ltd, received a letter of award (LoA) from the National Highways Authority of India (NHAI) for a toll road project in Odisha on Tuesday, January 6. According to reports from CNBCTV18.com, the trust will pay an upfront bid concession fee of ₹3,087 crore to NHAI to secure tolling rights for 20 years under this agreement. This acquisition marks IRB's strategic entry into Odisha, expanding the company's infrastructure portfolio across India.
The project involves tolling, operation, maintenance, and transfer of the Chandikhole–Bhadrak section of National Highway-16, spanning approximately 74.5 km for the toll operate transfer (TOT)-18 bundle. As reported by CNBCTV18.com, this infrastructure project will be managed by IRB Infrastructure Trust for the duration of the 20-year concession period. The deal is expected to boost toll revenues substantially in the coming years as part of IRB's continued expansion strategy.
Shares of IRB Infrastructure Developers Ltd closed at ₹41.88 apiece on January 6, which represents a 0.88% decline from the day's opening price on the BSE. According to CNBCTV18.com, this closing price reflects the market's response to the company's latest project announcement. Recent market data shows the stock trading at ₹41.89 with a 0.83% decline, indicating continued investor attention to the company's infrastructure wins.
In November 2025, IRB Infrastructure Trust secured a significantly larger ₹9,270 crore NHAI project for the TOT-17 bundle. As reported by CNBCTV18.com, that project covers a 366.096-km stretch comprising the Lucknow-Ayodhya-Gorakhpur section of NH-27 and the Lucknow-Sultanpur section of NH-731 in Uttar Pradesh, demonstrating the company's continued success in winning major infrastructure contracts.
In the same month, the Mumbai-based highway developer reaffirmed its double-digit toll revenue growth guidance for FY26 and indicated it remains on track to achieve approximately ₹4,000 crore in revenue from its construction business for FY26. According to CNBCTV18.com, this guidance reflects the company's confidence in its operational performance and project pipeline.
