Lok Sabha Question No. 963 (UNSTARRED), answered on 2026-02-05
Subject: Debt Position of NHAI
Ministry: ROAD TRANSPORT AND HIGHWAYS
Asked by: Shri Bhartruhari Mahtab, Dr. Hemang Joshi, Dr. K Sudhakar, Smt. Bijuli Kalita Medhi, Shri P P Chaudhary, Shri Rajkumar Chahar, Smt. Lovely Anand, Shri Kota Srinivasa Poojary

be pleased to state:-

- (a) the outstanding debt position of the National Highways Authority of India as of the latest quarter;

(b) the extent to which highway monetisation through Toll, Operate and  Transfer  (TOT)  and  Infrastructure  Investment  Trusts  (InvITs) has contributed to debt servicing;

- (c)  whether  any  monetisation  bundles  failed  to  attract  expected bids;
- (d) if so, the details thereof; and
- (e)  the  safeguards  in  place  to  prevent  fiscal  stress  from  affecting highway maintenance?

## GOVERNMENT OF INDIA

## MINISTRY OF ROAD TRANSPORT AND HIGHWAYS

## LOK SABHA UNSTARRED QUESTION NO. 963 ANSWERED ON 05 TH  FEBRUARY, 2026

## DEBT POSITION OF NHAI

## 963.  SHRI P P CHAUDHARY:

DR. K SUDHAKAR:

SHRI BHARTRUHARI MAHTAB:

DR. HEMANG JOSHI:

SHRI KOTA SRINIVASA POOJARY:

SMT. LOVELY ANAND:

SHRI RAJKUMAR CHAHAR:

SMT. BIJULI KALITA MEDHI:

Will the Minister of ROAD TRANSPORT AND HIGHWAYS

सड़क परिवहन औि िाजमार्ग मंत्री

## ANSWER

## THE MINISTER OF ROAD TRANSPORT AND HIGHWAYS

## (SHRI NITIN JAIRAM GADKARI)

- (a)  The  outstanding  debt  of  the National  Highways  Authority  of India (NHAI) at the end of latest quarter i.e. on 31.12.2025 was Rs. 2,37,247.95 crore.
- (b)  The  fund  raised  through  Toll-Operate-Transfer  (TOT)  mode  is transferred  into  the  Consolidated  Fund  of  India  (CFI),  which  is ploughed back to NHAI through budgetary support as NHAI investment  and  can  be  used  for  investment  on  projects  and  Debt servicing.

The  details  of  ToT  and  Infrastructure  Investment  Trust  (InvIT) receipts are at Annexure.

- (c)  and (d) The following 4 TOT Bundles failed to attract expected bids:
- I. TOT Bundle-2
- II. TOT Bundle-6
- III. TOT Bundle-8
- IV. TOT Bundle-10

TOT Bundle-15 was closed on expiry of bid validity.

- (e) The concessionaires in TOT/InvIT - based concession contracts are  under  obligation  to  maintain  the  roads  during  the  concession period and the cost towards O&M and required overlays are already factored in their financing model and concession value. In case of failure to maintain the highways upto expected standards, appropriate  action  in  terms  of  the  concession  agreement  can  be taken against the concessionaire.

ANNEXURE REFERRED TO IN REPLY TO PART (B) OF LOK SABHA UNSTARRED  QUESTION  NO.  963  ANSWERED  ON  05 TH   FEBRUARY, 2026  ASKED  BY  SHRI  P  P  CHAUDHARY,  DR.  K  SUDHAKAR,  SHRI BHARTRUHARI MAHTAB, DR. HEMANG JOSHI, SHRI KOTA SRINIVASA  POOJARY,  SMT.  LOVELY  ANAND,  SHRI  RAJKUMAR CHAHAR  AND  SMT.  BIJULI  KALITA  MEDHI  REGARDING  'DEBT POSITION OF NHAI'.

- A. Receipts deposited in CFI under TOT:

| TOT- Bundle   | Financial Year   |   Length (in KMs) | State                         |   Concession value transferred to CFI (Rs. In Cr.) |   Year Wise (Rs. In Cr.) |
|---------------|------------------|-------------------|-------------------------------|----------------------------------------------------|--------------------------|
| TOT-1         | 2018-19          |               681 | AP Orissa & Gujrat            |                                               9682 |                     9682 |
| TOT-3         | 2020-21          |               566 | UP, Bihar, Jharkhand and T N  |                                               5011 |                     5011 |
| TOT-5(A- 1)   | 2021-22          |                54 | Gujrat                        |                                               1011 |                     1011 |
| TOT-5(A- 2)   | 2022-23          |               106 | Gujrat                        |                                               1251 |                    10662 |
| TOT-7         | 2022-23          |               135 | EPE                           |                                               6267 |                    10662 |
| TOT-9         | 2022-23          |                73 | U P                           |                                               3144 |                    10662 |
| TOT-11        | 2022-23          |                84 | U P                           |                                               2156 |                    10662 |
| TOT-12        | 2022-23          |               316 | M P                           |                                               4428 |                    10662 |
| TOT-13        | 2022-23          |               108 | M P & Rajasthan               |                                               1683 |                    10662 |
| TOT-14        | 2023-24          |               189 | UP, Delhi & Orissa            |                                               7701 |                    15968 |
| TOT-16        | 2024-25          |               252 | Hyderabad Nagpur Section      |                                               6661 |                     6661 |
| TOT-17        | 2025-26          |               366 | Lucknow- Ayodhya- Gorakhpur - |                                               9270 |                     9270 |

|            |      | Sultanpur Stretch   |       |       |
|------------|------|---------------------|-------|-------|
| Total ---> | 2930 |                     | 58265 | 58265 |

## Note: TOT-2,6,8,10 got failed. TOT-15 was closed on expiry of bid validity

- B. Receipts under InviT:

| InviT Rounds   | Financial Year   |   Length in KM. | State                                     | Concession value Rs. In cr.   |
|----------------|------------------|-----------------|-------------------------------------------|-------------------------------|
| Round 1        | 2021-22          |             389 | Karnatka, Gujrat, Rajsthan & Telangana    | 7,350                         |
| Round 2        | 2022-23          |             246 | MP, UP & Maharasthra                      | 2,850                         |
| Round 3        | 2023-24          |             889 | WB, UP, MP, Assam, MP & Karnatka          | 15,700                        |
| Round 4*       | 2024-25          |             754 | 11 Road Assets (listed below for 2024-25) | 17,738*                       |
| TOTAL          |                  |            2278 |                                           | 43,638                        |

Note: *  Receipts deposited in CFI in FY 2025-26 *****