NHAI’s ₹35,000 Cr Highway Monetisation Blueprint for FY27

The Government of India plans to monetise 28 national highway assets spanning more than 1,800 kilometres during FY27, with the objective of raising approximately ₹35,000 crore.

According to a senior official, the National Highways Authority of India (NHAI) has finalised the list of highway stretches for monetisation, with Haryana and Uttar Pradesh accounting for the largest share of identified assets. The move is part of the government’s broader infrastructure recycling strategy following road monetisation receipts of ₹29,000 crore in FY26.

The monetisation programme will primarily use toll-operate-transfer (TOT) models and infrastructure investment trusts (InvITs). The FY27 pipeline includes two build-operate-transfer (BOT) projects and seven engineering, procurement, and construction (EPC) projects. The government is also favouring hybrid annuity model (HAM) assets because of their relatively lower capital expenditure risks. In addition, sovereign wealth funds and pension funds are now permitted to invest directly in greenfield toll road projects.

Over the next three to five years, National Highways Authority of India plans to transfer another 1,500 kilometres of operational highways into public InvITs to support funding for new infrastructure development.

Under the National Monetisation Pipeline (NMP) 2.0 framework, the highway sector’s total monetisation target has been set at ₹4.42 lakh crore for the FY26–FY30 period, with newly awarded BOT projects now included within the programme.

News by Rahul Yelligetti.