Report
India's Highway Infrastructure Outlook 2026
An overview of India's highway ecosystem, the evolution of HAM projects and the long-term investment opportunity across transport infrastructure.
PDF · 28 pages
From the report
“India built 60% more national highway in the past decade than existed before it. That's the headline number. The more useful story, for an investor, is who paid for it and how that's changing.”
0 km
National highway network, up 60% since 2014
₹0 cr
Raised through 11 successful TOT auctions since 2018
0.0% p.a.
Return delivered by NHIT since its 2021 listing
Source: NHAI; NHIT Annual Report, 2024-25.
Contents
- 01Executive Summary
- 02Sector Overview
- 03Road Asset Economics
- 04Policy & Monetisation Framework
- 05Capital Structure & the Rise of InvITs
- 06India's InvIT Market Map
- 07Demand Drivers
- 08Risk Factors
- 09How We Underwrite Road Infrastructure
- 10Illustrative Valuation Framework
- 11Our Investment Thesis
- 12What Would Change Our View
- 13What We Are Watching
- 14Outlook
- 15Important Disclosures
- 16Sources, Methodology & Appendices
Read the full 28-page report, or download it to keep.