IRB Infrastructure Receives ₹513 Cr; Debt to Reduce by ₹700 Cr

Mumbai: IRB Infrastructure Developers Ltd, India’s leading and largest toll road concessionaire, on Monday announced the successful transfer of its Gandeva–Ena (VM7) HAM project to the IRB InvIT Fund, marking a key milestone in its capital recycling strategy.

The company has received a cash consideration of ₹513 crore towards its equity investment in the VM7 Project SPV. Following this transaction, IRB’s consolidated debt is expected to reduce by approximately ₹700 crore, significantly strengthening its liquidity position.

Strategic Capital Recycling

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, said the transaction reinforces IRB’s “Bid–Execute–Stabilize–Transfer” strategy.

“This transaction demonstrates effective capital recycling and value realization from matured assets. It reflects our disciplined approach to portfolio optimization and value creation for stakeholders. The proceeds will enable IRB to pursue future growth opportunities in the infrastructure sector,” he said.

Mr. Mhaiskar further added that the debt reduction following the asset transfer would enhance the company’s overall financial flexibility and balance sheet strength.

About the VM7 HAM Project

The Gandeva–Ena (VM7) HAM Project is an eight-lane, revenue-generating stretch forming part of the New Delhi–Mumbai Greenfield Expressway in Gujarat. The project falls under Package VII of NHAI’s flagship Bharatmala Pariyojana.

The asset is operated by VM7 Expressway Private Limited, a wholly owned subsidiary of IRB Infrastructure, under a concession awarded by the National Highways Authority of India (NHAI).

IRB had earlier entered into a binding agreement for the sale of this HAM asset to the IRB InvIT Fund, and the completion of the transfer marks a successful execution of that plan.

Positive Signal for Investors

The transaction underscores IRB Infrastructure’s focus on:

Unlocking value from operational assets
Reducing leverage
Recycling capital into new highway opportunities

Market participants view the development as a positive signal, particularly amid renewed momentum in India’s road and infrastructure investment cycle.