Real Estate Hour

IRB Infrastructure, led by Virendra D Mhaiskar, completed Kaithal-Rajasthan highway project


IRB Infrastructure, India’s leading road developing comp any, has taken big strides in the last decade, and emerged as one of the most trusted highway builders in the country. Over the years, it has executed a number of complex projects in across different states. The company is well-known for completing their projects ahead of schedule.

With a portfolio of 17 owned projects and seven projects under O&M contracts as the project manager for IRB InvIT (Infrastructure investment Trust), the company has made a mark in the road developing industry.

The company added another jewel to its crown when the SPV (Special Purpose Vehicle) of IRB Infra completed the Kaithal-Rajasthan border highway project. The CMD of IRB Infra, Virendra D Mhaiskar, was a happy man as the project was thrown open for the traffic from midnight.

The Kaithal-Rajasthan project was given to IRB Infrastructure in 2014 under BOT space for the conversion of two lanes into four lanes. It was the eighth project in IRB Infra’s BOT portfolio with a total length of 166.26 kms on NH152/65. The cost of the project was Rs 2,290 crore, including the VGF of Rs 234 crore. The concession period for the project is 27 years. The construction work was completed 4 months ahead of the schedule as a provisional certification was issued to the company by the ‘Competent Authority’.

The world class project has a service road of around 21 km. It also has 18 pedestrian underpasses, 5 vehicular underpasses, 5 flyovers, 13 small bridges, 71 intersections, 241 culverts and one railway over-bridge. The Rajasthan-Kaithal stretch of 166.26 km is a part of NH-65, starting from Ambala in Haryana and ending in Pali in Rajasthan. It passes through four districts in Haryana, which are Kaithal, Jind, Hissar and Bhiwani.

Talking about the completion of the project, Virendra D Mhaiskar said that the IRB Infra is grateful to the stakeholders, who contributed to the achievement of COD for this project. He said the company is hopeful that the project will bring world class and safe commuting experience in India.

This was not the first time that the company was able to complete a project ahead of its schedule. Since its inception in 1998, the company has worked on various projects on difficult terrains with great success. It is the first company to deliver a successful BOT project in the country. It has played a huge part in developing and maintaining some of the important roads and highways in the country, including the prestigious Golden Quadrilateral Project.

In its journey of 20 years, IRB Infra has achieved a unique milestone of completing a total length of 12,800 lane km under the leadership of Virendra Mhaiskar. The company has also forayed into HAM space recently, and the portfolio continues to grow every year.

It has launched India first infrastructure investment trust (InvIT). IRB InvIT Trust is an infrastructure investment trust registered under InvIT regulations of SEBI. It intends to own, operate and maintain a portfolio of six toll-road assets which are operated and maintained pursuant to concessions granted by the NHAI. This is the first listed infrastructure investment trust on the stock exchanges focused on toll-road assets in India.

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