Commercial Operation Date declared for 45.05 KMs of NHAI HAM project; SPV eligible for annuities

CoD declared October 07, 2026 for 45.05 KMs of the NHAI HAM project, run by a wholly owned subsidiary.

Fri 9 Oct 2026

Commercial Operation Date

October 07, 2026 for 45.05 KMs of the NHAI HAM project

Provisional Certificate Coverage

27.02 KMs of service road and 45.05 KMs of main carriageway out of 50.975 KMs

Annuity Eligibility

NHAI annuity payments over 15 years, every 6 months

What the company informed the exchanges

The company has informed the stock exchanges that October 07, 2026 has been declared the Commercial Operation Date (CoD) for a stretch of 45.05 KMs of its National Highways Authority of India (NHAI) Hybrid Annuity Mode (HAM) project. The declaration follows recommendations in a letter issued by an Independent Engineer, dated October 09, 2026.

The project is the four laning of the Tumkur Shivamogga section from km 170+415 to km 226+750, Bettdahalli Shivamogga, of NH-206 on Hybrid Annuity Mode under Bharatmala Pariyojna in the state of Karnataka.

Who executes the project

• The project is executed by Ashoka Bettadahalli Shivamogga Road Private Limited, described as a wholly owned subsidiary of the company.
• The said special purpose vehicle (SPV) has received a Provisional Certificate for completion of 27.02 KMs of service road and 45.05 KMs of main carriageway.
• These completed stretches are out of the total project stretch of 50.975 KMs.

What the CoD triggers

• Consequent upon the declaration of CoD, the SPV would be eligible for receipt of annuity payments from NHAI.
• The operation period stated is 15 years.
• Annuity payments are stated to be at an interval of every 6 months, counted from the date of achievement of CoD, that is October 07, 2026.

How a reader can place this announcement

• In a Hybrid Annuity Mode road project, the concessionaire builds the road and then operates it, receiving annuity payments from the highway authority over the operation period, instead of depending only on toll collections.
• The CoD is the date from which the operational phase and the associated annuity timeline begin, and the update records that date as October 07, 2026.
• The provisional certificate relates to the completed stretches measured against the total project stretch, with 45.05 KMs of main carriageway and 27.02 KMs of service road certified against a total of 50.975 KMs.
• The timeline on record is a 15-year operation period with payments every 6 months.

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