IRB Infrastructure Developers Ltd. (IRB), India's leading and the largest developer of integrated multinational highway infrastructure has been awarded 158 km (1,264 lane km) Hyderabad Outer Ring Road (ORR) project under Toll-Operate-Transfer (TOT) model with 30-year revenue-linked concession period for an upfront fee of Rs 73.80 billion.

Virendra D. Mhaiskar, Chairman and Chief Executive Officer of IRB Infrastructure Developers Ltd., said: "Proud to add this prestigious project to our portfolio, with our asset base to over Rs 700 billion and share in the TOT space up to 37%, the largest by a private player in India." He added: "We express our sincere gratitude to all authorities and stakeholders. We aim to carry out this project through our private InvIT platform."

The Hyderabad Metropolitan Development Authority (HMDA) had made globally competitive bids for the project; in which the company had participated and emerged as the selected bidder. After signing the concession agreement, the project SPV will make the payment of Rs 73.80 billion within a time frame of 120 days.