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IRB Infrastructure Trust received the Letter of Award for the TOT-18 (Toll-Operate-Transfer) bundle on January 6, 2026, officially incorporating the 74.5-km Chandikhole-Bhadrak section of NH-16 into its portfolio. The company is paying ₹3,087 crore for a 20-year concession to manage and collect tolls, marking its shift from a traditional developer to a yield-focused asset manager.

This structured income play utilizes IRB's Private InvIT to manage a financial instrument backed by physical assets, providing immediate liquidity to the government while capturing inflation-linked revenue streams over two decades. With an asset base of ₹94,000 crore, IRB is positioning itself as a key stakeholder in India's logistics infrastructure, transforming the operational data center into a profitability driver.