In 2020, Reliance Infrastructure completed the sale of its Delhi-Agra Toll Road asset to Cube Highways for a total consideration of ₹3,600 crore.
Reliance Infrastructure Limited is set to monetise its Pune Satara Toll Road (PSTR) project with Cube Highways and Infrastructure III Pte Ltd, a Singapore based company, acquiring 100 per cent stake in the special purpose vehicle that operates the project.
“The transaction represents a significant milestone in Reliance Infrastructure’s ongoing strategy to monetise non-core assets, enhance financial flexibility and focus on long-term value creation. The enterprise value for the PS Toll Road transaction is estimated at ₹2,000 crore. As part of the transaction, Reliance Infrastructure is expected to realise equity proceeds of ₹600 crore,” said a Reliance Infra official.
The funds will be strategically deployed towards future growth initiatives in core business areas. In addition to value realisation, the transaction is expected to result in a reduction of consolidated debt by ₹1,400 crore, thereby further strengthening the Company’s balance sheet, the official added.
PS Toll Road Pvt Ltd was established to develop, operate and maintain a 140-kilometre six-lane expressway between Pune and Satara in Maharashtra, along National Highway NH-4 (now NH-48).
Developed under the Build-Operate-Transfer (Toll) model, the project forms a crucial segment of the Golden Quadrilateral, enhancing connectivity between Mumbai and Bengaluru. Toll collection on the corridor commenced in October 2010.
The transaction is expected to reach completion by the end of this month, subject to requisite regulatory approvals. This transaction marks the second successful toll road deal between Reliance Infrastructure and Cube Highways, further strengthening the strategic relationship between the two infrastructure platforms.
In 2020, Reliance Infrastructure completed the sale of its Delhi-Agra Toll Road asset to Cube Highways for a total consideration of ₹3,600 crore. Reliance Infrastructure currently operates a diversified portfolio of seven toll road assets, spanning a total length of approximately 2,468 lane kilometres across key high-traffic corridors in India.
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Published on August 22, 2025
