BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Institutional Equities
The National Highway Authority of India had set a target of awarding 6,500 km in FY23, of which it awarded ~3,750 Km (versus 6,306 km in FY22) at an NHAI cost of Rs 1 trillion.
Ordering seems to have spilt over to FY24 with our checks suggesting ~Rs 350 billion of bids expected to be awarded during early H1 FY24. During the year, hybrid annuity model continued to be its preferred mode of awarding with 75/31/3 projects awarded on HAM/engineering, procurement and construction/another basis.
Competitive intensity reduced towards the FY23 end as developers maintained calibrated aggression. Non-road players outperformed their inflow guidance, while road players need to catch up on missed guidance.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
Hollywood Veteran Robert Redford Passes Away Aged 89
Sep 16, 2025
Ramon Magsaysay Award 2025: Indian Non-Profit Working For Girls' Education Among Winners
Aug 31, 2025
FASTag Annual Pass Launched: Tamil Nadu Leads Purchases Of Rs 3,000 Pass — Check How To Activate
Aug 19, 2025
HDFC Securities' Umesh Sharma Talks Trump's Tariffs, Sector Impact
Aug 08, 2025
POPULAR