IRB Infrastructure Developers has received approval to continue serving as the Project Manager for three key Special Purpose Vehicles (SPVs) under the IRB InvIT Fund. The company will manage operation and maintenance services starting April 1, 2030, for the remainder of the respective concession periods. The transaction involves an aggregate value of up to INR 1,136 crore, excluding taxes, ensuring continued operational oversight for these critical infrastructure assets.
Strategic Project Management Renewal
On May 15, 2026, the Board of Directors approved the continuation of the company as the Project Manager for three major tollway projects: IRB Jaipur Deoli Tollway Limited, IRB Pathankot Amritsar Toll Road Limited, and IRB Talegaon Amravati Tollway Limited. This engagement ensures the seamless execution of operation and maintenance works from April 1, 2030, until the end of the concession periods for each project.
Contract Details and Financial Impact
The company will enter into amended and restated project implementation agreements to formalize this arrangement. The total contract value is estimated at INR 1,136 crore on a fixed-price basis. Including GST at 18%, the approximate total value reaches INR 1,340 crore. These agreements represent a stable long-term operational commitment for the company, further solidifying its role in maintaining these core highway assets.
Transaction Transparency
The company, which holds a 16.57% stake in the Public InvIT, has clarified that this transaction is not classified as a related party transaction. The agreement remains subject to necessary regulatory approvals, marking a key milestone in the company’s long-term service strategy for the infrastructure sector.
Source: BSE
