IRB Infrastructure Developers Ltd. has executed project implementation agreements with IRB InvIT Fund to act as the Project Manager for projects operated by IRB Hapur Moradabad Tollway Limited (HMTL), Kaithal Tollway Limited (KTL) and Kishangarh Gulabpura Tollway Limited (KGTL). These agreements follow an earlier disclosure dated May 30, 2025, and involve projects transferred from the IRB Infrastructure Trust. The total project cost is estimated at ₹4,466 crores.
Project Implementation Agreements Executed
IRB Infrastructure Developers Ltd has finalized project implementation/management agreements with IRB InvIT Fund. These agreements allow IRB InvIT Fund to serve as the Project Manager. This decision, following a previous disclosure on May 30, 2025, supports projects previously under the IRB Infrastructure Trust.
Key Projects Involved
The agreements cover the following tollway projects:
- IRB Hapur Moradabad Tollway Limited (“HMTL”): Six-laning project of Hapur bypass to Moradabad
- Kaithal Tollway Limited (“KTL”): Four-laning of Kaithal to Rajasthan Border section
- Kishangarh Gulabpura Tollway Limited (“KGTL”): Six-laning of Kishangarh to Gulabpura Section
Agreement Details
The total fixed price for these projects stands at ₹4,466 crores (inclusive of applicable taxes) across the remaining concession period, which has a weighted average life of 20 years. The company clarified that these agreements do not involve related parties or promoter group companies.
Source: BSE