IRB Tumkur Chitradurga Tollway Limited (IRBTC), a subsidiary of irb invit fund , received an Arbitral Award dated June 25, 2026 in the matter of IRBTC vs National Highways Authority of India (NHAI). The dispute concerned the revocation of a deferment scheme and the calculation of deferred premiums for previous years, along with other force majeure claims. The company has already accounted for the deferred premium and related interest as liabilities in its books of accounts.

The Arbitral Tribunal directed IRBTC to pay the deferred premium along with interest. The specific amount is to be determined by NHAI within 12 weeks of the Award, following which IRBTC must make the payment within the subsequent 12 weeks. It is pertinent to note that the decision of the Arbitral Tribunal was not unanimous.

Key Details of the Arbitral Award

IRBTC stated that it will take steps to protect its rights under the Concession Agreement and applicable laws, based on advice from its legal counsels. The filing was made by Swapna Arya, Company Secretary & Compliance Officer, on behalf of the Investment Manager to IRB InvIT Fund.

IRB InvIT Fund reported gross toll revenue of ₹1,656 million for May 2026, representing an increase of approximately 7% on a year-on-year basis. The total revenue for the month rose from ₹1,545 million recorded in May 2025, driven by improved performance across its various project Special Purpose Vehicles (SPVs). The data was disclosed in a regulatory filing submitted to the stock exchanges on June 8, 2026.

The revenue figures encompass eight project SPVs managed by the fund. IRB Hapur Moradabad Tollway Limited contributed the highest share at ₹316 million, up from ₹297 million in the prior year. IRB Tumkur Chitradurga Tollway Limited followed with ₹392 million, compared to ₹377 million in the corresponding period of the previous year. Kishangarh Gulabpura Tollway Limited recorded revenue of ₹233 million, an increase from ₹219 million.

Other significant contributors included IRB Pathankot Amritsar Toll Road Limited, which saw revenue rise to ₹157 million from ₹129 million, and IRB Jaipur Deoli Tollway Limited, which reported ₹186 million compared to ₹166 million. M.V.R. Infrastructure & Tollways Limited posted revenue of ₹163 million, slightly higher than the ₹156 million recorded in May 2025.

Kaithal Tollway Limited and IRB Talegaon Amravati Tollway Limited reported revenues of ₹122 million and ₹87 million, respectively, up from ₹116 million and ₹85 million in the previous year. The filing noted that revenue for IRB Tumkur Chitradurga Tollway Limited is net of revenue from the Tumkur bypass stretch for the previous period to ensure accurate comparison.

Project-wise Toll Revenue Performance

• Revenue is net of revenue from Tumkur bypass stretch for previous period for comparison purpose.

** The Projects are acquired by IRB InvIT Fund effective from 1st November 2025. However, the numbers for previous period are presented only for comparison purpose.