Finshots Daily Is NHAI selling the family silver to keep building roads?
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Jun 12, 2025 The discussion dives into NHAI's ambitious new strategy for monetizing assets to fund highway construction. It explores how evolving funding models face various challenges while attempting to maintain sustainable revenue streams. The team raises critical questions about the future of road infrastructure in India and whether this monetization approach truly supports long-term development or risks short-term gains.
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NHAI's New Monetization Strategy
- NHAI is auctioning toll rights and bundling highways to raise funds without borrowing.
- Its new strategy includes retail investment products to finance India's road expansion ambitions.
Shift from BOT to EPC & HAM Models
- The BOT model collapsed by 2014 due to revenue shortfalls and land acquisition delays.
- NHAI shifted to EPC and HAM models, increasing daily highway construction from 11.6km in 2014 to 34km in 2025.
NHAI's Off-Budget Debt Surge
- NHAI borrowed heavily, with debt soaring from ₹24,000 crore in 2015 to ₹3.35 lakh crore by 2024.
- Its debt is off-budget but still risks taxpayer money.