IRB Infrastructure Developers has received board approval to act as the project manager for the TOT-17 Project, implemented through IRB Harihara Corridors Private Limited. The project is valued at up to ₹6,785 crores. An Extraordinary General Meeting (EGM) will be convened on January 13, 2026, to seek member approval for related party transactions connected to this project.
TOT-17 Project Management Approval
The Board of Directors has approved IRB Infrastructure Developers’ involvement as the project manager for the TOT-17 Project, officially named the Lucknow-Ayodhya-Gorakhpur Section and Lucknow-Sultanpur Project. This decision was made during a board meeting held on December 21, 2025.
Project Details and Financials
IRB Infrastructure will provide works related to the initial upgrade, operations & maintenance (O&M), and overall project implementation through IRB Harihara Corridors Private Limited (Project SPV). The project is valued at up to ₹6,785 crores, which includes GST at 18%. The concession period for this revenue-linked project is 20 years from the appointed date.
Extraordinary General Meeting (EGM)
An Extraordinary General Meeting (EGM) is scheduled for January 13, 2026, to obtain member approval for material related party transactions concerning the TOT-17 Project. This aligns with Section 100 of the Companies Act, 2013, and related rules. The project includes the Lucknow-Ayodhya-Gorakhpur Section of NH-28 (New NH-27) and the Lucknow-Sultanpur (NH-731) segments.
Related Party Transactions
The transaction involves contracts with IRB Harihara Corridors Private Limited (IRBHCPL), a wholly-owned project SPV incorporated by IRB Infrastructure Trust. IRBHCPL is associated with the company and will be managing the TOT-17 Project. The agreement ensures all transactions are conducted at arm’s length.
Source: BSE