Mumbai: IRB Infrastructure Developers has signed Project Implementation Agreements worth about ₹2,663 crore with the IRB InvIT Fund, the company announced. The fixed-price contracts run for around 18 years and cover two highway assets.

The agreements relate to the Solapur–Yedeshi (NH-211) project and the Kishangarh–Udaipur–Ahmedabad (NH-79) corridor. IRB Infra clarified the counterparty is the IRB InvIT Fund and that the transaction is not a related-party deal.

The long-tenure contracts provide revenue visibility for the company's operations and maintenance business. Fixed-price implementation agreements are a standard structure in the InvIT model, where the sponsor executes works for the trust's assets.

IRB Infra is one of India's largest highway developers and the sponsor of the IRB InvIT Fund. Analysts said the agreements strengthen the company's order book and reinforce the sponsor–InvIT execution pipeline.

The agreements cover the operations and maintenance phase of the two highway assets, under which IRB Infra will execute the works for the InvIT over the nearly two-decade tenure.