BOT: The road not taken: BOT projects are on the block but deals few and far

In 2004, Maharashtra State Road Development Authority sold the toll-collection rights for the Mumbai-Pune Expressway, India’s first high-speed, access-controlled toll road, to Pune-based IRB Infrastructure. The deal was for 15 years at an upfront payment of INR918 crore. The investment has paid off for IRB — in the past four fiscal years alone, from FY15-FY18, IRB Infrastructure earned toll revenue of INR2,784 crore from the asset. In fact,