IRB Infrastructure Developers Limited — Important, 30-05-2025: Agreements

IRB Infrastructure Developers has announced a board meeting and approved Project Implementation Agreements with IRB InvIT Fund to serve as Project Manager for tollway projects under IRB Hapur Moradabad, Kaithal, and Kishangarh Gulabpura Tollway Ltd. The fixed-price contract is ~Rs. 4,466 Cr over a 20-year weighted average concession. These DBFOT toll road projects span Uttar Pradesh, Haryana, and Rajasthan. The deal highlights IRB’s continued operational control after transferring 100% equity of these SPVs to IRB InvIT Fund, securing steady long-term project management involvement.