IRB Infrastructure Developers has presented its Gandeva Ena project, which is part of the Delhi-Mumbai Greenfield Expressway, to the IRB InvIT Fund.
The 27.5 km stretch, featuring 220 lanes and valued at Rs 1,702 crore, has received the board’s approval for a preliminary non-binding proposal.
This initiative is in line with the company’s strategy to unlock capital through its “bid-execute-stabilize-transfer” model, which is designed to foster future growth. Virendra D Mhaiskar, Chairman and Managing Director, remarked, “This action is consistent with our bid-execute-stabilize-transfer strategy aimed at unlocking capital and promoting growth.”
The Gandeva Ena project, which serves as a revenue-generating asset, is an eight-lane highway that falls under the NHAI’s Bharatmala Pariyojana initiative. It is being executed by VM7 Expressway, a subsidiary of IRB, under a concession from the National Highways Authority of India.
