Summary
The vigour in awarding of road projects by the National Highways Authority of India (NHAI) seen this fiscal (FY22) will continue next fiscal (FY23) as well, with the hybrid annuity model (HAM) accounting for around half of it, according to a report by CRISIL.
The likely pace of awards, coupled with the government’s sharp focus on clearing land acquisition issues and ensuring swift payments, bode well for NHAI’s execution target of 4,300-4,600 km of roads this financial year and another 4,500-5,000 km in the next.
In FY23, CRISIL forecasts that NHAI will sustain its FY 22 momentum and award 4,000-4,500 km. With a strong pipeline of pr......