Synopsis
December was the third month after April and May where not a single project was awarded. Given the sluggish trend, analysts expect that NHAI may fall short of achieving the target of awarding 6,000 km for FY24. In such a case, FY24 may be the second consecutive fiscal year to show a drop in projects awarding. In FY23, NHAI awarded 6003 km of road projects, a year-on-year fall of 4.8%.
ET Intelligence Group: The awarding of road projects continued to remain subdued in the third quarter of FY24 after reporting a drop in the previous fiscal year. For the first nine months of FY24, road projects awarded by National Highways Authority of India (NHAI) fell by 89% to 309 km when compared with the corresponding period of FY23. December was the third month after April and May where not a single project was awarded. Given the sluggish
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