Jaipur-Mahua Tollway Private Limited (JMTPL)
JMTPL, located in Rajasthan, connects Jaipur to Mahua toward the eastern corridor, near the southwestern edge of Uttar Pradesh. The project comprises a 109.1 km four-lane highway, forming part of NH 21, and is supported by two toll plazas: Sikandara (TP1) and Rajadhok (TP2).
109.1 | 4
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2032
Concession End Date
7,341
Enterprise Value (in INR million)
Short-distance trips are driven by tourism and leisure travel, with strong movement between Agra, Bharatpur and Jaipur.
Medium-distance trips support trade flows, particularly the movement of marble and manufactured goods between Rajasthan and Uttar Pradesh.
Long-distance trips connect Gujarat, southern Rajasthan, Uttar Pradesh and East India, linking ports, industrial hubs and major consumption centres.
Mahua Bharatpur Expressways Limited (MBEL)
MBEL, located in Rajasthan, connects Mahua to Bharatpur toward the eastern corridor, near the southwestern edge of Uttar Pradesh. The project comprises a 57.3 km four-lane toll road forming part of NH 21, supported by two toll plazas: Amoli (TP1) and Ludhawai (TP2).
57.3 | 4
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2032
Concession End Date
4,119
Enterprise Value (in INR million)
Short-distance travel is driven by tourism and leisure movement, connecting key destinations such as Agra, Bharatpur and Jaipur.
Medium-distance travel supports trade flows, enabling the movement of marble and manufactured goods between Rajasthan and Uttar Pradesh.
Long-distance travel links Gujarat and southern Rajasthan with Uttar Pradesh and East India, connecting production hubs, ports and consumption centres.
Western UP Tollway Private Limited (WUPTPL)
WUPTPL in western Uttar Pradesh, connects Meerut and Muzaffarnagar. The Meerut–Muzaffarnagar Western UP Toll Road spans 78.1 km as a four-lane tolled corridor and forms part of NH 334. The project features a single toll plaza: Siwaya (TP1), strategically located approximately 10 km from Meerut.
78.1 | 4
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2027
Concession End Date
977
Enterprise Value (in INR million)
Short-distance trips are primarily driven by daily commuting within the NCR, supporting work-related and local travel needs.
Medium-distance trips along the Meerut–Muzaffarnagar Western UP Toll Road connect Delhi NCR with Uttarakhand, facilitating tourism, leisure and regional travel.
Traffic trends on the Meerut–Muzaffarnagar Western UP Toll Road strengthen closer to weekends, driven by travellers heading to Uttarakhand for tourism and business purposes.
Nelamangala Devihalli Expressway Private Limited (NDEPL)
NDEPL, located in Karnataka, connects Bengaluru to Mangaluru along NH 75. It represents one of the three key stretches of this strategic corridor, alongside Devihalli–Hassan Tollway Limited (DHTL) and the Hassan–Mangaluru highway. The project comprises an 80.3 km, four-lane tolled road forming part of NH 75. It includes two toll plazas: Doddakarenahalli/Nelamangala (TP1), near Bengaluru and Karbylu (TP2), near Devihalli.
80.3 | 4
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2033
Concession End Date
4,667
Enterprise Value (in INR million)
Medium-distance travel between Bangalore and Mangalore is largely tourism-driven, with C/J vehicles accounting for most corridor traffic.
Work and leisure trips between Bangalore, Hassan, Nelamangala and nearby destinations contribute significantly to route usage.
Petroleum-related traffic supports movement between ports, refineries, bottling plants and key consumption centres such as Bangalore.
Farakka-Raiganj Highways Private Limited (FRHPL)
FRHPL, located in West Bengal, connects Farakka and Raiganj, while passing through Malda. The corridor lies in proximity to the India–Bangladesh international border, enhancing its strategic significance. The project spans 100.1 km as a four-lane tolled road forming part of NH 12. It features two toll plazas: Lakshmipur (TP1), near Farakka in the South, and Gazole (TP2), near Malda.
100.1 | 4
Length (km) | Lane
DBFOT | NHAI
Project Type | Authority
FY 2042
Concession End Date
26,471
Enterprise Value (in INR million)
Short-distance trips primarily connect Malda with surrounding towns across the Malda and Murshidabad districts.
Medium-distance traffic supports movement across North and South Bengal, including transit between Pakur, Malda and Bangladesh.
Long-distance travel links Kolkata and East India with the Northeast, supporting the movement of people and commodities across regions.
Walayar Vadakkencherry Expressways Private Limited (WVEPL)
WVEPL, located in Kerala, connects Walayar to Vadakkencherry. This 53.5 km, four-lane tolled stretch forms part of NH 47, an important corridor linking Salem and Kochi, and serves as a key eastern gateway into Kerala. The project includes a single toll plaza at Chullimada Hamlet, Pampampallam (TP1), located at km 189.4, closer to Walayar, enabling efficient traffic flow and toll collection.
53.5 | 4
Length (km) | Lane
DBFOT | NHAI
Project Type | Authority
FY 2038
Concession End Date
9,101
Enterprise Value (in INR million)
Short-distance trips are largely work- and business-driven, connecting Walayar with other parts of the Palakkad district.
Medium-distance travel supports passenger and goods movement between Kochi, Ernakulam, Erode and Salem.
Long-distance traffic is led by MAVs carrying consumption goods and cement from Chennai, Bengaluru and Vijayawada into Kerala.
DA Toll Road Private Limited (DATRPL)
DATRPL connects the central National Capital Region (NCR), including Delhi, to Agra via Palwal and Mathura. The project spans 179.5 km as a six-lane tolled corridor forming part of NH 19 (old NH 2). It initially featured two toll plazas: Srinagar (closer to Delhi) and Mahuvan (TP1) (closer to Agra). Following the achievement of provisional COD in May 2022, the Srinagar plaza was reconfigured into two toll plazas: Prithala/Gadpuri (TP2) and Kotwan/Karman (TP3), both of which became operational in July 2022.
179.5 | 6
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2044
Concession End Date
77,786
Enterprise Value (in INR million)
Serving as a key gateway to North India the corridor facilitates North–East, North–West and North–South movement across the country.
Medium-distance traffic is driven by the corridor’s strategic location along one of the primary routes connecting Delhi and Lucknow via Agra.
Short-distance travel largely comprises inter-urban movement between towns and cities in and around Delhi, Palwal, Mathura and Agra.
Ghaziabad Aligarh Expressway Private Limited (GAEPL)
GAEPL, located in western Uttar Pradesh, connects Ghaziabad to Aligarh via Khurja and Bulandshahr. The project spans 126.3 km as a six-lane tolled corridor forming part of NH 91. It includes two toll plazas: Luharli (TP1), closer to Ghaziabad, and Somna (TP2), near Aligarh.
126.3 | 6
Length (km) | Lane
BOT-Toll | NHAI
Project Type | Authority
FY 2040
Concession End Date
38,839
Enterprise Value (in INR million)
Local traffic movement is concentrated between Delhi, Ghaziabad and other cities across Western Uttar Pradesh and the NCR.
Industrial traffic is driven by Sikandrabad, a key industrial hub along the corridor that generates and attracts significant freight movement.
Heavy vehicle traffic connects Haryana, Punjab and Jammu & Kashmir with eastern states such as West Bengal, Odisha and the Northeast, with substantial volumes passing through the Somna toll plaza.
Hazaribagh Tollway Private Limited (HTPL)
HTPL, located in Jharkhand, connects Ranchi, the state capital, with Hazaribagh along NH 20 (old NH 33). The project spans 73.5 km as a four-lane tolled corridor forming part of NH 20. It includes a single toll plaza: Pundag (TP1).
73.5 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2051
Concession End Date
20,156
Enterprise Value (in INR million)
Short-distance trips are driven by tourism and leisure travel, while also supporting commuter movement between Ramgarh, Patratu and Ranchi.
Medium-distance traffic connects Bihar with Jharkhand’s mining regions, enabling the movement of minerals, steel and related products across Bihar, West Bengal and Odisha.
Long-distance travel links Bihar and southern West Bengal with the southern and central regions of India.
Jhansi-Lalitpur Tollway Private Limited (JLTPL)
JLTPL, located in Uttar Pradesh, connects Jhansi and Lalitpur along NH 44 (old NH 25 and 26). NH 44 is India’s primary North–South corridor, linking Jammu & Kashmir to Kanyakumari and connecting major economic centres such as Delhi, Nagpur, Hyderabad, Bengaluru and Chennai. This project includes a single toll plaza: Babina (TP1).
49.7 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2046
Concession End Date
12,951
Enterprise Value (in INR million)
Short-distance trips are primarily driven by leisure and business travel between key tourist towns and cities located around the asset. A large share of CJV traffic is either local in nature or operates along routes connecting Jhansi, Orchha, Talbehat and Lalitpur.
Long-distance travel along the corridor connects Gwalior, Delhi-NCR and other northern regions with major southern destinations such as Nagpur, Hyderabad, Bangalore and further parts of South India.
Jhansi-Vigakhet Tollway Private Limited (JVTPL)
JVTPL, located in Uttar Pradesh, connects Jhansi and Vigakhet along NH 44 (old NH 25 and 26). NH 44 is India’s primary North–South corridor, linking Jammu & Kashmir to Kanyakumari and connecting major economic centres such as Delhi, Nagpur, Hyderabad, Bengaluru, and Chennai, underscoring the corridor’s strategic importance. The project includes a single toll plaza at Vigakhet (TP1).
49.3 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2046
Concession End Date
8,014
Enterprise Value (in INR million)
Short-distance trips are primarily driven by leisure and business travel between key tourist towns and cities located around the asset. A significant share of CJV traffic is either local or operates along routes connecting Jhansi, Orchha, Talbehat and Lalitpur.
Long-distance travel along the corridor connects Gwalior, Delhi-NCR and other northern regions with major destinations such as Nagpur, Hyderabad, Bangalore and further southern parts of the country.
Kotwa-Muzaffarpur Tollway Private Limited (KMTPL)
KMTPL, located in Bihar, connects Muzaffarpur and Kotwa in the north-western part of the state. The project spans approximately 80 km as a four-lane tolled corridor forming part of NH 27. It features a single toll plaza, Parsoni Khem (TP1), close to Kotwa.
80.0 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2046
Concession End Date
13,992
Enterprise Value (in INR million)
Short-distance trips are driven by local work-related travel, connecting Motihari, Chakia, Motipur and nearby towns.
Medium-distance traffic supports passenger and freight movement between Patna and Raxaul, facilitating cross-border trade with Nepal.
Long-distance traffic is led by heavy goods vehicles linking Uttar Pradesh, Uttarakhand and Delhi with West Bengal, the Northeast, Bangladesh and Bhutan.
Lucknow-Raebareli Tollway Private Limited (LRTPL)
LRTPL, located in Uttar Pradesh, connecting the state capital, Lucknow, to Raebareli in the south-central region of the state. The project spans 70 km as a four-lane tolled corridor forming part of NH 30. It includes a single toll plaza: Dakhina Sekhpur (TP1), located at Km 42.65, closer to Lucknow.
70.0 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2051
Concession End Date
8,546
Enterprise Value (in INR million)
Short-distance trips are driven by work, business and tourism travel, with strong demand across Lucknow, Raebareli, Prayagraj, Varanasi and Mirzapur.
Medium-distance traffic is led by heavy trucks moving agricultural products, metals, cement, petroleum and manufactured goods across northern and eastern India.
Madurai-Kanyakumari Tollway Private Limited (MKTPL)
MKTPL, located in Tamil Nadu, connects Madurai with northern Tamil Nadu and onward to states in the north, while also linking key destinations in southern Tamil Nadu and Thiruvananthapuram. The project spans 52.3 km as a four-lane tolled corridor forming part of NH 44. It serves as an important connector along this major North–South highway and includes a single toll plaza, Kappalur (TP1).
52.3 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2046
Concession End Date
16,608
Enterprise Value (in INR million)
Short-distance trips connect key towns across southern Tamil Nadu, including Madurai, Tirumangalam, Virudhunagar, Sivakasi, Kovilpatti, Tirunelveli and Thiruvananthapuram.
Medium-distance travel is driven by movement between Chennai, Bengaluru, southern Tamil Nadu and Thiruvananthapuram, which serve as major regional hubs.
Long-distance traffic links North India with Andhra Pradesh, Telangana and Karnataka, extending through southern Tamil Nadu to Thiruvananthapuram.
Kanyakumari-Etturavattam Tollway Private Limited (KETPL)
KETPL, located in Tamil Nadu, connects Madurai with northern Tamil Nadu and onward to states in the North, while also providing connectivity to key destinations in southern Tamil Nadu and Thiruvananthapuram. The project spans 64.2 km as a four-lane tolled corridor forming part of NH 44. It includes a single toll plaza: Etturavattam (TP1).
64.2 | 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2051
Concession End Date
10,785
Enterprise Value (in INR million)
Short-distance trips connect key towns across southern Tamil Nadu, including Madurai, Tirumangalam, Virudhunagar, Sivakasi, Kovilpatti, Tirunelveli and Thiruvananthapuram.
Medium-distance traffic links Chennai and Bengaluru with southern Tamil Nadu and Thiruvananthapuram, supporting strong regional connectivity.
Long-distance travel connects North India with Andhra Pradesh, Telangana and Karnataka, extending through southern Tamil Nadu to Thiruvananthapuram.
Salaipudhur Madurai Tollway Private Limited (SMTPL)
SMTPL, located in Tamil Nadu, connects Madurai with northern Tamil Nadu and onward to states in the north, while also linking key destinations in Southern Tamil Nadu and Thiruvananthapuram. The project spans 63.5 km as a four-lane tolled corridor forming part of NH 44. It includes a single toll plaza: Salaipudhur (TP1).
63.5| 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2051
Concession End Date
11,778
Enterprise Value (in INR million)
Short-distance trips connect key towns across southern Tamil Nadu, including Madurai, Virudhunagar, Sivakasi, Tirunelveli and Thiruvananthapuram.
Medium-distance travel links Chennai and Bengaluru with southern Tamil Nadu and Thiruvananthapuram, supporting regional mobility.
Long-distance trips connect North India with Andhra Pradesh, Telangana and Karnataka, extending to southern Tamil Nadu and Thiruvananthapuram.
Nanguneri-Kanyakumari Tollway Private Limited (NKTPL)
NKTPL, located in Tamil Nadu, connects Madurai, northern Tamil Nadu and states north of Tamil Nadu with cities and towns in southern Tamil Nadu and Thiruvananthapuram in Kerala. The asset is a 63.47 km toll road that lies on NH 44 in Tamil Nadu. It is a four-lane road with one toll plaza at Nanguneri (TP 1).
63.5| 4
Length (km) | Lane
TOT-Toll | NHAI
Project Type | Authority
FY 2051
Concession End Date
14,255
Enterprise Value (in INR million)
Short-distance trips connect Madurai, Tirumangalam, Virudhunagar, Sivakasi, Kovilpatti, Tirunelveli and Thiruvananthapuram across southern Tamil Nadu.
Medium-distance travel links Chennai and Bengaluru with southern Tamil Nadu and Thiruvananthapuram, supporting regional connectivity.
Long-distance trips connect North India with Andhra Pradesh, Telangana and Karnataka, extending to southern Tamil Nadu and Thiruvananthapuram.
N. A. M. Expressway Private Limited (NAMEPL)
The NAM Expressway connects Narketpalli to Medarmetla via Addanki, forming part of SH-2 across Telangana and Andhra Pradesh. Spanning a total length of 212.9 km, the corridor has 209.6 km operational as a four-lane highway, with the balance under development. It serves as a critical link between NH 9 and NH 5 (the eastern arm of the Golden Quadrilateral), facilitating connectivity between South-Central and Western India. The project includes three toll plazas: Madugulapalli (TP1) in Telangana, and Tummala Cheruvu (TP2) and Elchuru (TP3) in Andhra Pradesh.
212.9| 4
Length (km) | Lane
DBFOT | Government of Andhra Pradesh and Telangana
Project Type | Authority
FY 2040
Concession End Date
27,666
Enterprise Value (in INR million)
Long-Distance: Connects North India, including Delhi, Haryana, Punjab and Uttarakhand, with Chennai, enabling efficient long-haul freight movement.
Medium-Distance: Serves as an important route connecting Hyderabad with Vijayawada and Guntur, supporting medium-distance transportation requirements.
Short-Distance: Enables seamless short-haul transportation between Hyderabad and the rest of Telangana and Andhra Pradesh.
Andhra Pradesh Expressway Private Limited (APEPL)
APEPL is an annuity-based project located in Andhra Pradesh along the North–South corridor under NHDP Phase II. The project connects Kothakota to Kurnool and spans 74.6 km as a four-lane highway forming part of NH 44. It plays a vital role in facilitating seamless North–South connectivity across the region.
74.6| 4
Length (km) | Lane
BOT-Annuity | NHAI
Project Type | Authority
FY 2027
Concession End Date
816
Enterprise Value (in INR million)
*Disclaimer: This is an annuity asset; toll collection rights for this asset are not held by Cube InvIT.
Borgaon Watambare Highways Private Limited (BWHPL)
BWHPL entered into a concession agreement with the National Highways Authority of India (NHAI) on May 10, 2018, for the development, operation and maintenance of a four-lane section of NH 166 in Maharashtra under the Hybrid Annuity Model (HAM). The project covers the Sangli–Solapur corridor (Package II: Borgaon to Watambare), spanning from existing Ch. Km 219.956 to Km 272.394 (Design Ch. Km 224.000 to Km 276.000), and is a key infrastructure stretch aimed at enhancing regional connectivity.
52.0 | 4
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
3,216
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Mangalwedha Solapur Highways Private Limited (MSHPL)
MSHPL entered into a concession agreement with the NHAI on May 10, 2018, for the development, operation, and maintenance of a four-lane section of NH 166 in Maharashtra under the Hybrid Annuity Model (HAM). The project covers the Sangli–Solapur corridor (Package IV: Mangalwedha to Solapur), spanning from existing Ch. Km 314.969 to Km 370.452 (Design Ch. Km 321.600 to Km 378.100), and is a key stretch aimed at strengthening regional connectivity and transport efficiency.
55.9 | 4
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
3,733
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Mangloor Highways Private Limited (MHPL)
MHPL entered into a concession agreement with the NHAI on May 09, 2018, for the development, operation, and maintenance of a four-lane section of NH 161 in Telangana under the Hybrid Annuity Model (HAM) as part of the Bharatmala Pariyojana. The project covers the Mangloor to Telangana–Maharashtra border stretch, spanning from existing Ch. Km 91.350 to Km 140.873 (Design Ch. Km 86.788 to Km 135.751), and plays an important role in enhancing interstate connectivity and corridor efficiency.
49.0 | 4
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
2,747
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Tirumala Highways Private Limited (THPL)
THPL entered into a concession agreement with the NHAI on May 9, 2018, for the development, operation, and maintenance of a six-lane section of NH 140 in Andhra Pradesh under the Hybrid Annuity Model (HAM) as part of the Bharatmala Pariyojana. The project covers the Chittoor to Mallavaram stretch, spanning from existing Ch. Km 158.000 to Km 41.800 (Design Ch. Km 0.000 to Km 61.128), and is a key corridor aimed at improving regional connectivity and transport efficiency.
61.1 | 6
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
4,701
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Srirangam Infra Private Limited (SIPL)
SIPL entered into a Concession Agreement on April 11, 2018 with the NHAI for the development, maintenance and management of a four-lane stretch of National Highway from Trichy to Kallagam section (from km. 0.000 to km. 38.700) of NH227 in the State of Tamil Nadu under Bharatmala Pariyojana on HAM.
38.7 | 4
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
3,466
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Shankarampet Projects Private Limited (SPPL)
SPPL entered into a concession agreement with the NHAI on May 9, 2018, for the development, operation, and maintenance of a four-lane section of NH 61 in Telangana under the Hybrid Annuity Model (HAM) as part of the Bharatmala Pariyojana. The project covers the Ramsanpalle village to Mangloor village stretch, spanning from existing Ch. Km 44.757 to Km 91.350 (Design Ch. Km 39.980 to Km 86.788) and is aimed at enhancing regional connectivity and improving corridor efficiency.
46.8 | 4
Length (km) | Lane
BOT-HAM | NHAI
Project Type | Authority
FY 2037
Concession End Date
4,197
Enterprise Value (in INR million)
Disclaimer: This is a HAM asset; toll collection rights for this asset are not held by Cube InvIT.
Jammu Udhampur Highway Private Limited (JUHPL)
JUHPL entered into a concession agreement with the NHAI on July 19, 2010, for the development and maintenance of a four-lane section of NH 1A in Jammu & Kashmir on a Design, Build, Finance, Operate and Transfer (DBFOT) basis under an annuity model.
48.0 | 4
Length (km) | Lane
DBFOT-Annuity | NHAI
Project Type | Authority
FY 2032
Concession End Date
12,240
Enterprise Value (in INR million)
Disclaimer: This is an annuity asset; toll collection rights for this asset are not held by Cube InvIT.
Quazigund Expressway Private Limited (QEPL)
QEPL entered into a concession agreement with the NHAI on July 13, 2010, for the development and maintenance of a four-lane section of NH 1A in Jammu & Kashmir on a Design, Build, Finance, Operate and Transfer (DBFOT) basis under an annuity model. The project covers the Quazigund–Banihal stretch from 189.350 Km to 204.700 Km, including twin tunnels (2-lane) of 0.69 km and 8.45 km (total ~15.25 km), forming a critical high-altitude corridor that enhances connectivity and reduces travel time across the region.
16.0 | 4
Length (km) | Lane
DBFOT-Annuity | NHAI
Project Type | Authority
FY 2032
Concession End Date
19,251
Enterprise Value (in INR million)
Disclaimer: This is an annuity asset; toll collection rights for this asset are not held by Cube InvIT.











































