EAAA Alternatives bags ₹2,259 cr NHAI toll road assets under TOT programme

EAAA Alternatives has signed concession agreements with NHAI for two toll road stretches in Tamil Nadu under TOT Bundle 19, expanding its infrastructure platform to 26 road assets

EAAA Alternatives-managed Infrastructure Yield Strategy, through its portfolio company, Epic Concessions 2 Pvt Ltd, has signed concession agreements with the National Highways Authority of India (NHAI) for two toll roads in Tamil Nadu for an aggregate value of ₹2,259 crore.

 

The agreements have a concession period of 20 years. The two roads on NH-38 and NH-83 were awarded under NHAI's Toll, Operate, Transfer (TOT) programme.

 

The concession agreements are for the Thanjavur-Trichy and Madurai-Tuticorin stretches, spanning 170 kilometres (km) in Tamil Nadu. With these assets, the number of roads in EAAA's infrastructure platform has increased to 26, comprising over 7,700 lane km across 17 states, including those for which binding agreements are in place. 

 

Amit Agarwal, chief executive officer, EAAA Alternatives, said, "India's infrastructure sector continues to offer significant long-term opportunities for investors, supported by strong policy direction, growing economic activity, and the need for high-quality transport networks. Our participation in TOT Bundle 19 reflects EAAA Alternatives' continued commitment to deploying patient capital into large infrastructure assets. The strong investor interest in the recent public listing of EAAA TransInfra's InvIT, CITIUS TransNet, also demonstrates the platform's capabilities and commitment to India's infrastructure."

 

NHAI has been monetising operational assets to fund new road infrastructure development across the country. Under the TOT model, private entities are granted the rights to operate and collect toll revenue from completed highways for a fixed concession period, usually ranging from 15 to 30 years, in exchange for a one-time upfront payment.

 

Sreekumar Chatra, managing director – infrastructure funds, EAAA Alternatives, said, "We are proud to be a part of NHAI's TOT programme, which is helping unlock capital for the country's next phase of infrastructure development. EAAA's differentiated infrastructure investment thesis focuses on acquiring high-quality operating assets, value creation through active asset management, sustainable development, and delivering superior risk-adjusted returns to investors."

 

Additionally, EAAA is the alternatives arm of financial services conglomerate Edelweiss and has assets under management of ₹72,706 crore.

 

In April, EAAA India Alternatives-backed CITIUS TransNet Investment Trust launched its initial public offering (IPO) to raise ₹1,105 crore.