Edelweiss arm EAAA Alternatives bags two NHAI toll roads for ₹2,259 crore

New Delhi: Epic Concessions 2 Pvt Ltd, a portfolio company of EAAA Alternatives’ Infrastructure Yield Strategy, has signed concession agreements with the National Highways Authority of India (NHAI) to take over two toll roads in Tamil Nadu for ₹2,259 crore. The two road stretches on NH-38 and NH-83 span 170 km across Thanjavur-Trichy and Madurai-Tuticorin. They were awarded under NHAI’s Toll, Operate, Transfer (TOT) programme — specifically TOT bundle 19 — with a concession period of 20 years.

With these assets, the number of roads in EAAA’s infrastructure platform has increased to 26, comprising over 7,700 lane-kilometres across 17 states, including those for which binding agreements are in place.

Long term opportunities

Amit Agarwal, chief executive of 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’sInvIT, CITIUS TransNet, also demonstrates the platform’s capabilities and commitment to India’s Infrastructure,” he added.

Sreekumar Chatra, managing director–infrastructure funds, EAAA Alternatives, said, “The addition of these roads will expand our portfolio to 26 roads across 17 states, further strengthening our presence across geographies. 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.”

Monetizating assets

NHAI has been monetizing operational assets to fund new road infrastructure development across the country. Under the TOT model, private entities are granted 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.

EAAA, the alternatives arm of Edelweiss, is a multi-strategy asset management alternatives platform in India. With ₹72,706 crore in assets under management, the platform focuses on providing income and yield solutions to its global and domestic investor base through its business verticals, including real assets and private credit.