Roads & Highways
The anchor of the pipeline. NHAI monetises operating four-lane-plus stretches through TOT bundles and its InvIT (NHIT), recycling proceeds into Bharatmala construction.
₹9,681 cr
TOT Bundle 1 (2018)
₹40,000 cr+
NHIT AUM
20–30 yrs
Typical concession
A six-stretch TOT bundle in western India: 560 km of tolled highway with 9 years of audited traffic. Bidders model 30-year traffic growth, WPI-linked toll escalation and pavement-renewal cycles. The winner pays ₹6,000-plus crore upfront; NHAI keeps ownership, sets toll rules and gets the roads back — resurfaced — at the end of the term. Growthifye's role in such deals: independent traffic and revenue diligence, O&M cost benchmarking and the lender's financial model.
- TOT bundles (15–30 yr)
- NHAI InvIT (NHIT)
- Securitisation of toll receivables
- 01Traffic & revenue diligence (ATCC data, leakage, diversion risk)
- 02Pavement condition and O&M/major-maintenance cost model
- 03Toll-escalation, WPI and force-majeure scenario stress test
- 04Bid-price valuation & lender-ready model
- Traffic & revenue study
- TOT/InvIT valuation model
- Concession-agreement risk matrix
- Lender's independent engineer scope
Authority, bidder or investor — we run the whole transaction.