IRB Infrastructure Developers has successfully executed the Project Implementation Agreement (PIA) for the TOT-17 project following shareholder approval at the Extraordinary General Meeting held on January 13, 2026. The company announced the execution of the agreement with IRB Harihara Corridors Private Limited on January 19, 2026.

Project Agreement Execution

The company has formalized its role as Project Manager for IRB Harihara Corridors Private Limited, the wholly owned SPV of IRB Infrastructure Trust. This follows the board approval on December 21, 2025, and subsequent shareholder approval at the EGM.

TOT-17 Project Scope

The project management agreement covers comprehensive services for the Toll Operate and Transfer project spanning multiple highway corridors in Uttar Pradesh. The company will provide initial upgradation, operations and maintenance works, and overall project implementation services.

Corporate Governance Process

The material related party transaction received necessary approvals through a structured governance process. The Audit Committee and Board of Directors initially approved the transaction on December 21, 2025, followed by shareholder approval at the EGM conducted in accordance with Section 100 of the Companies Act, 2013.

Related Party Structure

IRB Infrastructure Trust is an associate of the company, with IRB Infrastructure Developers holding 51% unit holding in the Private InvIT. The company serves as both sponsor and project manager for the trust, while the transaction structure ensures arms-length dealings in compliance with SEBI Infrastructure Investment Trusts Regulations, 2014.

IRB Infrastructure Developers Limited has notified stock exchanges regarding a structural change in its statutory auditor's business organization. The company informed BSE Limited and National Stock Exchange of India Limited on January 15, 2026, about this regulatory compliance update.

Auditor Conversion Details

The company's statutory auditor, M S K A & Associates, Chartered Accountants, has undergone a business structure transformation. The firm has been converted into a Limited Liability Partnership under the provisions of the Limited Liability Partnership Act, 2008.

Continuity of Audit Services

The conversion to LLP structure will not impact the auditor's responsibilities or tenure with IRB Infrastructure Developers. M S K A & Associates LLP will continue to function and discharge their obligations as the statutory auditor for their remaining tenure. This ensures continuity in audit services without any disruption to the company's statutory compliance requirements.

Regulatory Compliance

The notification was submitted to both major stock exchanges where IRB Infrastructure Developers shares are listed. Company Secretary Mehul Patel signed the intimation letter digitally, ensuring proper documentation of this corporate governance update. The communication was addressed to the Corporate Relationship Department of BSE Limited and the Listing Department of National Stock Exchange of India Limited.

This conversion represents a routine business structure change that allows the auditing firm to operate under the LLP framework while maintaining their professional chartered accountancy services. The change aligns with regulatory provisions under the Limited Liability Partnership Act, 2008, which provides an alternative business structure for professional service firms.