IRB Infrastructure Developers on Thursday said it has offered its Gandeva Ena project, which forms part of the upcoming Delhi-Mumbai Greenfield Expressway project, to IRB InvIT Fund.
IRB Infrastructure Developers, in a statement, said the project is a 27.5 km (220 Lane Kms) stretch and has a cost of ₹1,702 crore.
The company board has approved the preliminary non-binding proposal for transfer of the said project to IRB InvIT Fund, which is a publicly offered and listed Infrastructure Investment Trust sponsored by the company, it added.
31 October 2025
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Virendra D Mhaiskar, Chairman and Managing Director of the Company, said, "This step aligns with our bid-execute-stabilise-transfer strategy to unlock capital and drive growth".
"Offering our second HAM asset on this expressway to the Public InvIT provides long-term cashflow visibility to the InvIT while releasing funds to support IRB’s future growth," he added.
The Gandeva Ena HAM project had recently received a provisional completion certificate and is a revenue-generating asset, currently part of the company’s portfolio.
It is an eight-lane project on the Gandeva Ena stretch in Gujarat under NHAI’s Package-VII of India’s ambitious 'Bharatmala Pariyojana'.
The project is being implemented by VM7 Expressway Private Limited, a wholly-owned subsidiary of the company, under a concession awarded by the National Highways Authority of India.
