Industry Statistics

Industry statistics July 2009
Sections
1.0 Road network C-1

2.0 Investments C-15
3.0 NHDP C-21
4.0 Player profile C-33
Tables
1.0 Road network

01 Freight and passenger movement C-1
02 Addition to National Highway Length (planwise) C-2
03 Capacity as on 2007-08 C-3
04 Physical targets and achievements for Tenth Plan C-3
05 Operations of Road Transport C-4
06 India: Existing road network (National highways, their length) C-5
07 Indian national highways by state/UT C-12
08 Statewise road length in relation to area and population C-13
2.0 Investments
01 Investments in road sector C-15
02 Central road sector outlay/expenditure C-16
03 Statewise accrual/allocation from Cess (2007-08) C-17
04 Revenues from cess on petrol and diesel C-18
05 Statewise release of funds under centrally sponsored scheme C-18
Pradhan Mantri Gram Sadak Yojana C-18
06 Proposed programme for devlopment of state roads for Eleventh
Five-Year Plan (2007-2012) C-19
07 Funds required and available for NH maintenance C-20
08 Financing of NHAI C-20
3.0 NHDP
01 NHDP - Phase I Status C-21
02 NHDP - Phase II Status C-23
03 NHDP - Phase III Status C-24
04 NHDP - Phase V status C-26
05 NON NHDP Projects-status C-26
06 NHDP - Phase I (Contractwise details) C-27
07 NHDP - Phase II (Contractwise details) C-28
08 NHDP - Phase III (Contractwise details) C-29
09 NHDP - Phase V (Contractwise details) C-30
10 NON NHDP - Contractwise details C-30
Continued
CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-i

continued
Tables
4.0 Player profile

01 Companies with exposure to roads sector - Margins and RoCE C-31
02 Afcons/Shapoorji Pallonji - Details of NHDP contracts executed C-32
03 Ashoka Buildcon - Details of NHDP Contracts Executed C-32
04 Ashoka Buildcon - Details of NHDP Contracts Under Implementation C-33
05 Gammon India Ltd - Details of NHDP Contracts Executed C-33
06 Gammon India Ltd - Details of NHDP Contracts Under Implementation C-34
07 Gammon Infrastructure Projects Ltd - Financial details C-35
08 Gayatri - Details of NHDP contracts executed C-36
09 Gayatri - Details of NHDP contracts under implementation C-36
10 GMR - Details of NHDP Contracts Executed C-37
11 GMR - Details of NHDP Contracts Under Implementation C-37
12 Hindustan Construction Co. Ltd - Details of NHDP contracts executed C-38
13 Hindustan Construction Co. Ltd - Details of NHDP contracts
under implementation C-39
14 Hindustan Construction Co. Ltd - Financial details - Consolidated C-40
15 IJM Corporation Berhad - Details of NHDP contracts executed C-41
16 IJM Corporation Berhad - Details of NHDP contracts under implementation C-41
17 IJM Corporation Berhad: Financial details C-42
18 ITD Cementation (I) Ltd - Details of NHDP contracts executed C-42
19 ITD Cementation (I) Ltd - Details of NHDP contracts under implementation C-43
20 ITD Cementation India Ltd - Financial details C-44
21 IVRCL Infrastructure & Projects Ltd - Details of NHDP contracts executed C-45
22 IVRCL Infrastructure & Projects Ltd - Details of NHDP contracts
23 IVRCL Infrastructure & Projects Ltd - Financial Details - Consolidated C-46
24 Larsen & Toubro Ltd - Details of NHDP contracts executed C-47
25 Larsen & Toubro Ltd: Details of NHDP contracts under implementation C-48
26 Larsen & Toubro Ltd - Financial Details - Consolidated C-49
27 LG Engineering & Construction - Details of NHDP contracts executed C-50
28 Madhucon Ltd - Details of NHDP Contracts Executed C-50
29 Madhucon Ltd - Details of NHDP Contracts Under Implementation C-51
30 Nagarjuna Construction Co. Ltd - Details of NHDP contracts executed C-52
31 Nagarjuna Construction Co. Ltd - Details of NHDP contracts
33 Patel Engineering Co. Ltd - Details of NHDP contracts executed C-55
34 Patel Engineering Co. Ltd - Details of NHDP contracts under implementation C-55
35 Patel Engineering Co. Ltd - Financial Details C-56
36 Punj Lloyd Ltd - Details of NHDP contracts executed C-57
37 Punj Lloyd Ltd - Details of NHDP contracts under implementation C-57
38 Punj Lloyd Ltd - Financial details - Consolidated C-58
39 Reliance Infrastructure Ltd - Detais of NHDP Projects Under Implementation C-59
40 Reliance Infrastructure Ltd - Financial details - Consolidated C-60
continued
C-ii CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

continued
Tables
41 Simplex Infrastructure Ltd: Details of NHDP contracts executed C-61

42 Simplex Infrastructure Ltd - Details of NHDP contracts under implementation C-61
43 Simplex Infrastructure Ltd - Financial details C-62
44 Sunway Construction Berhad - Details of NHDP contracts executed C-63
45 Sunway Construction Berhad - Details of NHDP contracts under
implementation C-63
46 Sunway Construction Berhad - Financial details C-64
47 Noida Toll Bridge Ltd - Financial details C-65
48 IRB Infrastructure Developers Ltd: Details of NHDP contracts executed C-66
49 IRB Infrastructure Developers Ltd - Details of NHDP contracts
50 IRB Infrastructure Developers Ltd - Financial details C-67
CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-iii

1.0 Road network
Table 1: Freight and passenger movement

Goods Passengers
Road Railway Road Railway Total Road Railway Road Railway Total
(per cent) (btkm) (per cent) (bpkm)
1950-51 13.8 86.2 6 38 44 29.3 84.6 23 67 79
1960-61 16.2 83.9 14 72 86 51.0 49.0 81 78 159
1970-71 30.1 69.9 48 111 158 64.0 36.0 210 118 328
1980-81 38.1 61.9 91 148 239 72.2 27.8 542 209 750
1990-91 38.1 61.9 145 236 381 72.2 27.8 768 296 1,063
1999-2000 60.4 39.5 467 305 773 80.8 19.0 1,832 431 2,267
2000-01 61.2 38.7 494 312 807 81.7 18.0 2,076 457 2,539
2001-02 60.7 39.3 515 333 848 83.1 16.9 2,413 491 2,905
2002-03 69.0 37.7 620 338 899 84.7 15.5 2,815 515 3,323
2003-04 72.3 37.4 707 366 977 85.1 15.0 3,070 541 3,608
2004-05 79.4 37.8 836 397 1,053 86.8 12.9 3,469 516 3,998
2005-06 68.3 31.7 950 442 1,391 n.a n.a n.a 617 n.a
2006-07 68.6 31.4 1,057 483 1,540 n.a n.a n.a 692 n.a
2007-08 68.4 31.6 1,094 506 1,600 n.a n.a n.a n.a n.a
2008-09 67.9 32.1 1,142 541 1,682 n.a n.a n.a n.a n.a
btkm: billion tonnes per kilometre; bpkm: billion people per kilometre
n.a: not available
Source: Working Group Report on Road Transport for the Eleventh Five-Year Plan, CRISIL Research
CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-1

Table 2: Addition to National Highway Length (planwise)
(kms) Length added Total length
As on 1.4.1947 - 21,440
Pre First Plan (1947-1951) 815 22,255
First Plan (1951-1956) - 22,255
Second Plan (1956-1961) 1,514 23,769
Third Plan (1961-1966) 179 23,948
Interregnum period (1966-1969) 52 24,000
Fourth Plan (1969-1974) 4,819 28,819
Fifth Plan (1974-1978) 158 28,977
Sixth Plan (1980-1985) 2,687 31,710
Seventh Plan (1985-1990) 1,902 33,612
Eighth Plan (1992-1997) 609 34,298
Ninth Plan (1997-2002)
1997-1998 4,219 38,517
1998-1999 11,068 49,585
1999-2000 2,425 52,010
2000-2001 5,727 57,737
2001-2002 375 58,112
Tenth Plan (2002- 2007)
2002-2003 - 58,112
2003-2004 7,457 65,569
2004-2005 - 65,569
2005-2006 1,551 67,120
2006-2007 -366 66,754
Note: Addition of National highway during Eleventh Five-Year Plan (2007-12) is 164 km.
Length of National highways denotified during Xth plan in year 2006-07 is 530 km.
Source: National Highways Authority of India, MORTH & CRISIL Research
C-2 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

Table 3: Capacity as on 2007-08
Width of National Highways State Highways Total
carriageway Length Length Length
(km) (per cent) (km) (per cent) (km) (per cent)
Four-lane 9,325 14.0 896 0.6 10,221 4.8
Two-lane 39,079 58.5 28,276 19.4 67,355 31.7
One-lane 18,350 27.5 116,688 80.0 135,038 63.5
Total 66,754 100.0 145,860 100.0 212,614 100.0
Source: MORTH, State PWDs
Table 4: Physical targets and achievements for Tenth Plan

Activity Targets/ Ninth Annual Annual Annual Annual Annual Annual Annual
Achievements Plan Plan Plan Plan Plan Plan Plan Plan
(1997-2002) (2002-03) (2003-04) (2004-05) (2005-06) (2006-07) (2007-08) (2008-09)
Targets 1,791 829 701 832 1,113 1,157 919 1,176
Widening to 2-Lanes (km) Achievements 1,955 710 671 719 982 709 951 1,153
Achievement rate 109% 86% 96% 86% 88% 61% 103% 98%
Targets 944 582 2,245 2,944 782 1,323# 2919# 3571##
Widening to 4-Lanes (km) Achievements 797 418 799 2,386 759 335 1719# 2266#
Targets 3,042 1,260 3,016 3,535 755 534 577 706
Strengthening weak 2 lane
(km) Achievements 3,511 1,109 1,489 2,981 1,596 566 911 1,010
Targets 59 21 20 12 9 15 17 28
By-passes (Nos.) Achievements 30 12 6 5 2 2 8 7
Construction of Targets 633 175 182 232 161 144 112 95
Bridges/ROBs/RUBs Achievements 442 143 123 105 99 138 88 78
including rehabilitation of
Bridges (Nos)
Note
Overall Target for 2006-07, 2007-08 & 2008-09 includes the Annual Targets for State Public Work Department, National Highway Authority of
India and Border Road Organisation
# Includes 2.5 Km. length of widening to 8-lane in Delhi.
## Includes 2.8 Km. length of widening to 8-lane in Delhi.
ROB: Rail Overbridge; RUB: Rail Underbridge
Source: Ministry of Road Transport and Highways

Table 5: Operations of Road Transport
1970-71 1980-81 1990-91 1995-96 1999-00 2000-01 2002-03 2003-04* 2004-05* 2005-06*
Length of Roads ('000 kms)
Total 915 1,485 1,998 2,303 2,416 2,447 2,601 2,713 n.a n.a
Surfaced 398 684 1,024 1,263 1,391 1,415 1,490 1,510 n.a n.a
Length of
National Highways ('000 kms)
Total 24 32 34 35 52 58 58 66 66 67
Surfaced 23 32 33 34 52 58 58 n.a n.a n.a
Length of
State Highways ('000 kms)
Total 57 94 127 135 133 132 135 132 n.a n.a
Surfaced 52 90 125 133 131 130 133 131 n.a n.a
Number of
registered vehicles ('000 kms)
All Vehicles 1,865 5,391 21,374 33,786 48,858 54,991 67,007 72,718 79,473 85,896
Goods Vehicles 343 554 1,356 2,031 2,715 2,948 3,492 3,748 4,393 4,782
1
Buses 94 162 331 449 562 634 721 768 885 934
Revenue from
Road Transport (Rs billion)
Central 5 9 46 80 210 239 311 351 396 500
States 2 8 30 58 130 129 171 193 229 217
* Provisional
** Excluding around 9 lakhs km of Rural Roads reported under Jawahar Rojgar Yojna as on 31.3.1996.
n.a : Not Available
1
: Includes omni buses
Source: Department of Road Transport & Highways/Economic Survey 2007-08

Table 6: India: Existing road network (National highways, their length)
NH no. Route State through which it passes and length Total length
(km) (km)
1 Delhi - Ambala - Jalandhar - Amritsar - Indo - Pak Border Delhi (22); Haryana (180); Punjab (254) 456
1A Jalandhar - Madhopur - Jammu - Banihal - Srinagar - Baramula - Punjab (108); Himachal Pradesh (14); Jammu 663
Uri & Kashmir (541)
1B Batote - Doda - Kistwar - Symthan pass -Khanabal Jammu & Kashmir (274) 274
1C Domel - Katra Jammu & Kashmir (8) 8
1D Srinagar-Kargil-Leh Jammu & Kashmir (422) 422
2 Delhi - Mathura - Agra - Kanpur - Allahabad - Varanasi - Mohania Delhi (12); Haryana (74); Uttar Pradesh (752); 1,465
- Barhi - Palsit - Baidyabati - Bara - Calcutta Bihar (202); Jharkhand (190); West Bengal
(235)
2A Sikandra - Bhognipur Uttar Pradesh (25) 25
2B Burdwan Bolpur road (via Talit Guskara and Bhedia) West Bengal (52) 52
2B Ext The highways starting from Bolpur connecting West Bengal 54
Prantik,Mayureswar and terminating at Mollarpur at the junction of
NH-60
2C Dehri-Akbarpur-Jadunathpur-Bihar/UP Border Bihar (105) 105
3 Agra - Gwalior - Shivpuri - Indore - Dhule - Nasik - Thane - Uttar Pradesh (26); Rajasthan (32); Madhya 1,161
Mumbai Pradesh (712); Maharashtra (391)
4 Junction with NH 3 near Thane - Pune - Belgaum - Hubli - Maharashtra (371); Karnataka (658); Andhra 1,235
Bangalore - Ranipet - Chennai Pradesh (83); Tamil Nadu (123)
4A Belgaum - Anmod - Ponda - Panaji Karnataka (82); Goa (71) 153
4B Nhava Sheva - Kalamboli - Palspe Maharashtra (20) 20
4C Kalamboli Junction with NH 4 Mahrashtra (7) 7
5 Junction with NH 6 near Baharagora - Cuttack - Bhubneshwar - Orissa (488); Andhra Pradesh (1,000); Tamil 1,533
Vishakhapatnam - Vijayawada - Chennai Nadu (45)
5A Junction with NH 5 near Haridaspur - Paradip Port Orissa (77) 77
6 Hajira - Dhule - Nagpur - Raipur - Sambalpur - Baharagora - Maharashtra (813); Chattisgarh (314); Orissa 1,949
Kolkatta (462); Jharkhand (22); West Bengal (161);
Gujarat (177)
7 Varanasi - Mangawan - Rewa - Jabalpur - Lakhnadon - Nagpur - Uttar Pradesh (128); Madhya Pradesh (504); 2,369
Hyderabad - Kurnool - Bangalore - Krishnagiri - Salem - Dindigul - Maharashtra (232); Andhra Pradesh (753);
Madurai - Cape - Commorin (Kanyakumari) Karnataka (125); Tamil Nadu (627)
7A Palyankottai - Tuticorin Port Tamil Nadu (51) 51
8 Delhi - Jaipur - Ajmer - Udaipur - Ahmedabad - Vadodra - Mumbai Delhi (13); Haryana (101); Rajasthan (635); 1,375
Gujrat (498); Maharashtra (128)
8A Ahmedabad - Limbdi - Moravi - Kandla - Mandvi-Vikhadi-Kothra- Gujarat (618) 618
Naliya-Narayan Sarovar
8B Bamanbore - Rajkot - Porbandar Gujarat (206) 206
8C Chiloda - Gandhinagar - Sarkhej Gujarat (46) 46
8D Jetpur - Somnath Gujarat (127) 127
8E Somnath - Bhavnagar-Porbander-Dwarka Gujarat (445) 445
9 Pune - Sholapur - Hyderabad - Vijayawada - Machillipatnam Maharashtra (336); Karnataka (75); Andhra 841
Pradesh (430)
10 Delhi - Fazilka - Indo Pak Border Delhi (18); Haryana (313); Punjab (72) 403
Continued

continued
(km) (km)
11 Agra - Jaipur - Bikaner Uttar Pradesh (51); Rajasthan (531) 582
11A Manoharpur - Dausa - Latsot-Kothum Rajasthan (145) 145
11B Lalsot - Dhaulpur Rajasthan (180) 180
11C Old alignment of NH no. 8 passing through Jaipur Rajasthan (53) 53
12 Jabalpur - Bhopal - Khilchipur - Aklera - Jhalawar - Kota - Bundi - Madhya Pradesh (486); Rajasthan (400) 886
Devli - Tonk - Jaipur
12A Jabalpur - Damoh - Hirapur Madhya Pradesh (482); Chhatisgarh (128); 617
Uttar Pradesh (7)
13 Sholapur - Chitradurga - Shimoga - Mangalore Maharashtra (43); Karnataka (648) 691
14 Beawar - Sirohi - Radhapur Rajasthan (310); Gujarat (140) 450
15 Pathankot - Amristar - Bhatinda - Ganganagar - Bikaner - Punjab (350); Rajasthan (906); Gujarat (270) 1,526
Jaisalmer - Barmer - Samakhiali(near Kandla)
16 Nizambad - Mancheral - Jagdalpur Andra Pradesh (220); Maharashtra (30); 460
Chattisgarh (210)
17 Panvel - Mahad - Panaji - Karwar - Mangalore - Cannanore - Maharashtra (482); Goa (139); Karnataka 1,269
Calicut(Kozhicode) - Ferokh - Kuttipuram - Pudu - Ponnami - (280); Kerala (368)
Chowghat - Cranganur Junction with NH 47 near Edapally
17A Junction with NH 7 near Cortlam - Murmugao Goa (19) 19
17B Ponda - Verna - Vasco Goa (40) 40
18 Junction with NH 7 near Kurnool - Nandyal - Cuddapah - Junction Andhra Pradesh (369) 369
with NH 4 near Chittoor
18A The highway starting from Puthalapattu and terminating at Andhra Pradesh 42
Tirupati
19 Ghazipur - Balia - Patna Bihar (120); Uttar Pradesh (120) 240
20 Pathankot - Mandi Punjab (10); Himachal Pradesh (210) 220
20A The highways starting from Nagrota at the junction of NH-20 Himachal Pradesh 91
connecting Ranital, Dehra and terminating at Mubarikpur at the
junction of NH-70
21 Junction with NH 22 near Chandigarh - Ropar - Bilaspur - Mandi - Chandigarh (24); Punjab (67); Himachal 323
Kulu - Manali Pradesh (232)
21A Pinjore - Nalagarh - Swarghat Haryana (16); Himachal Pradesh (49) 65
22 Ambala - Kalka - Shimala - Narkanda - Rampur - Indo China Haryana (30); Punjab (31); Himachal Pradesh 459
Border near Shipkila (398)
23 Chas - Ranchi - Rourkela - Talcher - Junction with NH 42 Jharkhand (250); Orissa (209) 459
24 Delhi - Bareilly - Lucknow Delhi (7); Uttar Pradesh (431) 438
24A Bakshi Ka Talab - Chenhat (NH 28) Uttar Pradesh (17) 17
24B Lucknow Rai Bareily- Allahabad road Uttar Pradesh 185
25 Lucknow - Kanpur - Jhansi - Shivpuri Uttar Pradesh (270); Madhya Pradesh (82) 352
25A Km - 19 (NH 25) - Bakshi Ka Talab Uttar Pradesh (31) 31
26 Jhansi - Lakhandon Uttar Pradesh (128); Madhya Pradesh (268) 396
26A Sagar - Bina Madhya Pradesh (75) 75
27 Allahabad - Mangawan Uttar Pradesh (43); Madhya Pradesh (50) 93
28 Junction with NH 31 near Barauni - Muzaffarpur - Pipra - Kothi - Bihar (259); Uttar Pradesh (311) 570
Gorakpur - Lucknow
28A Junction with NH 28 near Pipra - Kothi - Sagauli - Raxaul - Bihar (68) 68
Indo/Nepal Border
28B Chapwa - Junction with NH 28 near Kushinagar Uttar Pradesh (29); Bihar (121) 150
28C Barabanki - Nepalganj Uttar Pradesh (140) 140
29 Varanasi-Ghazipur-Gorakhpur-Pharenda Uttar Pradesh (306) 306
30 Junction with NH 2 near Mohania - Patna - Bakhtiarpur Bihar (230) 230
30A Phatuha - Chandi - Hamaut - Barh Bihar (65) 65
continued

continued
(km) (km)
31 Junction with NH 2 near Barhi - Bhaktiarpur - Mokameh - Purnea Bihar (393); West Bengal (366); Assam (322); 1,125
- Dalkola - Silliguri-Sivok-Cooch-Behar- North Salmara - Nalbari- Jharkhand (44);
Charali-AminGaon Junction with NH 37
31A Sivok - Gangtok West Bengal (30); Sikkim (62) 92
31B North Salmara - Junction with NH 37 near Jogighopa Assam (19) 19
31C near Galgalia - Baghdogra - Chalsa - Nagarkata - Goyerkata - West Bengal (142); Assam (93) 235
Dalgaon - Hasimara - Rajabhat Khawa - Kochgoan - Sidili -
Junction with NH 31 near Bijni
31D The highway starting from NH 31 near Siliguri and joining NH 31C West Bengal (147) 147
near Salsalabari via Fulbari Mainaguri Dhupguri Falakata and
Sonapur
32 Junction with NH 2 near Gobindpur - Dhanbad - Jamshedpur Jharkhand (107); West Bengal (72) 179
33 Junction with NH 2 near Barhi - RanchiJunction with NH 6 near Jharkhand (352) 352
Baharagora
34 Junction with NH 31 near Dalkola - Behrampore - Barasat - West Bengal (443) 443
Kolkata
35 Barasat - Bangaon - Indo-Bangaldesh Border West Bengal (61) 61
36 Nowgong - Dimapur (Manipur Road) Assam (167); Nagaland (3) 170
37 Junction with NH 31B near Goalpara - Guwahati - Jorabat - Assam (680); Arunachal Pradesh (60) 740
Kamargaon - Makum - Saikhoaghat
37A Kuarital - Junction with NH 52 near Tezpur Assam (23) 23
38 Mukum - Ledo - Lekhapani Assam (54) 54
39 Numaligarh - Imphal - Palel - Indo-Burma Border Assam (115); Nagland (110); Manipur (211) 436
40 Jorbat - Shillong - Indo-Bangladesh Border near Dawki - Jowai Meghalaya (216) 216
41 Junction with NH 6 near Kolaghat - Haldia Port West Bengal (51) 51
42 Junction with NH 6 Sambalpur Angul Junction with NH 5 near Orissa (261) 261
Cuttack
43 Raipur - Vizianagaram Junction with NH 5 near Natavalasa Chattisgarh (316); Orissa (152); Andhra 551
Pradesh (83)
44 Nongstoin-Shilllong - Passi - Badarpur - Agartala - Sabroom Meghalaya (277); Assam (111); Tripura (335) 723
44A Aizawl - Manu Mizoram (165); Tripura (65) 230
45 Chennai - TiruchirapalliDindigul-Teni Tamil Nadu (460) 460
45A Villupuram - Pondicherry - Chidambaram - Nagapattinam Tamil Nadu (147); Pondicherry (43) 190
45B Trichy-Melur-Tuticorin Tamil Nadu (257) 257
45C Thanjavur - Ulunderpettaj Tamil Nadu (159) 159
46 Krishnagiri - Ranipet Tamil Nadu (132) 132
47 Salem - Coimbatore - Trichur - Ernakulam - Trivandrum - Cape - Tamil Nadu (224); Kerala (416) 640
Commorin(Kanyalumari)
47A Junction with NH 47 Willington Island Kerala (6) 6
47B Nagercoil - Kavalkinaru Tamil Nadu (45) 45
47C The highway starting from NH 47 near Klmassery crossing NH 17 Kerala (17) 17
and terminating at Vallapadam
48 Bangalore - Hassan - Mangalore Karnataka (328) 328
49 Cochin - Madurai - Dhanuskodi Tamil Nadu (290); Kerala (150) 440
50 Nasik - Junction with NH 4 near Pune Maharashtra (192) 192
continued

continued
(km) (km)
51 Paikan - Tura - Dalu Assam (22); Meghalaya (127) 149
52 Baihata - Charali - Tezpur - Bander Dewa North Lakhimpur - Assam (540); Arunachal Pradesh (310) 850
Pasighat - Tezu - Sitapani Junction with NH 37 near Saikhoaghat
52A Bandar Dewa - Itanagar - Gohpur Assam (15); Arunachal Pradesh (42) 57
52B Kulajan - Dibrugarh Assam (31); Arunachal Pradesh (450) 481
53 Junction with NH 44 near Badarpur - Jirighat - Silchar - Imphal Assam (100); Manipur (220) 320
54 Dabaka - Lumding - Silchar - Aizwal - Tuipang Assam (335); Mizoram (515) 850
54A Theriat - Lungiei Mizoram (9) 9
54B Venus Saddle - Saiha Mizoram (27) 27
55 Siliguri - Darjeeling West Bengal (77) 77
56 Lucknow Varanasi Uttrar Pradesh (285) 285
56A Chenhat (NH 28) - Km 16 (NH 56) Uttar Pradesh (13) 13
56B Km15 [NH(56) - Km 6(NH 25)] Uttar Pradesh (19) 19
57 Muzaffarpur - Darbhanga - Forbesganj - Purnea Bihar (310) 310
57A Forbesganj - Jofbani Bihar (15) 15
58 Delhi - Ghaziabad - Meerut - Haridwar - Badrinath - Mana pass Uttar Pradesh (165); Uttaranchal (373) 538
59 Ahmedabad - Godhra - Dhar - Indore Gujarat (211); Madhya Pradesh (139) 350
59A Indore - Betul Madhya Pradesh (264) 264
60 Balasore - Kharagpur - Asansol junction with NH 2 near Raniganj Orissa (57); West Bengal (389) 446
60A Bankura - Puruliya West Bengal (100) 100
61 Kohim - Wokha - Mukokchung - Jhanji Nagaland (220); Assam (20) 240
62 Damra - Baghmara - Dalu Assam (5); Meghalaya (190) 195
63 Ankola - Hubli - Hospet - Gooty Karnataka (370); Andhra Pradesh (62) 432
64 Chandigarh - Rajpura - Patiala - Sangrur - Bhatinda - Dabwali Punjab (256) 256
65 Ambala - Kaithal - Hissar - Fatehpur - Jodhpur - Pali Haryana (240); Rajasthan (450) 690
66 Pondy - Tindivanam - Gingee - Thiruvanamalai - Krishnagiri Pondichery (10); Tamil Nadu (234) 244
67 Junction of NH 47 near Coimbatore - Mettupalyam - Ooty - Tamil Nadu (505); Karnataka(50) 555
Gudalur
68 Ulundrupet - Salem Tamil Nadu (134) 134
69 Nagpur - Obaidullaganj Maharashtra (55); Madhya Pradesh (295) 350
70 Jalandhar - Hoshirapur - Hamirpur - Dharmapur - Mandi Himachal Pradesh (120); Punjab (50) 170
71 Jalandhar - Moga - Sangrur - Rohtak - Bawal Punjab (130); Haryana (177) 307
71A Rohtak - Panipat Haryana (72) 72
71B NH 71 near Rewari - Palwal Rajasthan(5); Haryana (69) 74
72 Ambala - Nahan - Panota Sahib - Dehradun - Haridwar Haryana (50); Himachal Pradesh (50); Uttar 200
Pradesh (100)
72A Chhutmalpur - Biharigarh - Dehradun Uttaranchal (15); Uttar Pradesh (30) 45
72B The highways starting from Paonta at the junction of NH-72 Himachal Pradesh (110); Uttarakhand (51) 161
connecting Rajban, Shillai and passing through Minus, Tuini in
Uttrakhand and terminating at Hatkoti in Himachal Pradesh
73 Roorkee - Saharanpur - Yamuna Nagar - Saha - Panchkula Haryana (108); Uttar Pradesh (59); 188
Uttaranchal (21)
73A Yamuna Nagar - Paontasahib Himachal Pradesh (20);Haryana (42) 62
74 Haridwar - Nagina - Kashipur - Kichcha - Pillibhit - Bareilly Uttar Pradesh (147); Uttaranchal (153) 300
75 Gwalior - Jhansi - Chhatarpur - Rewa-Renukut - Garwa - Madhya Pradesh (600); Uttar Pradesh (110); 1,175
Daltonganj - Ranchi - Khunti- Murhu - Chakradharpur-Chaibasa Jharkhand (447); Orissa (18)
continued

continued
(km) (km)
76 Pindwara - Udaipur - Mangalwar - Kota - Shivpuri - Jhansi - Madhya Pradesh (60); Uttar Pradesh (587); 1,127
Banda - Allahabad with NH 7 near Mirzapur Rajasthan (480)
77 Hajipur - Sitamarthi - Sonbarsa Bihar (142) 142
78 Katni - Shahdol - Ambikapur - Jashpurnagar - Gumla Madhya Pradesh (178); Chhattisgarh (356); 559
Jharkhand (25)
79 Ajmer - Nasirabad - MP Border Rajasthan (220) 220
79A Kishangarh (NH 8) - Nasirabad (NH 79) Rajasthan (35) 35
80 Mokamah - RajMahal - Farakka Bihar (200); Jharkhand (100); 310
West Bengal (10)
81 Kora - Katihar - Malda Bihar (45); West Bengal (55) 100
82 Gaya - Biharsarif - Mokamah Bihar (130) 130
83 Patna - Jahanabad - Gaya - Bodhgaya - Dhobi Bihar (130) 130
84 Arrah - Buxar Bihar (60) 60
85 Chhapra - Siwan - Gopalganj Bihar (95) 95
86 Kanpur - Chhatarpur - Sagar - Bhopal - Dewas Uttar Pradesh (180); Madhya Pradesh (379) 559
87 Rampur - Pantnagar - Haldwani - Nainital - Bhowali - Almora - Uttar Pradesh (32); Uttaranchal (284) 316
Ranikhet - Dwarahat
88 Shimala - Bilaspur - Hamirpur - Bhawan - NH 20 Himachal Pradesh (115) 115
89 Ajmer - Bikaner Rajasthan (300) 300
90 Baran - Aklera Rajasthan (100) 100
91 Ghaziabad - Aligarh - Eta - Kannauj - Kanpur Uttar Pradesh (405) 405
91A Etawah - Kannauj Uttar Pradesh (126) 126
92 Bhongaon - Etawah - Gwalior Uttar Pradesh (171) 171
93 Agra - Aligarh - Babrala - Chandausi - Mordabad Uttar Pradesh (220) 220
94 Rhishikesh - Ampata - Tehri - Dharasu - Kuthanur - Yamnotri Uttaranchal (160) 160
95 Kharar(Chandigarh) - Ludhiana - Jagaron - Ferozepur Punjab (225) 225
96 Faizabad - Sultanpur - Pratapgarh - Allahabad Uttar Pradesh (160) 160
97 Ghaziapur - Zamania - Saiyedraja Uttar Pradesh (45) 45
98 Patna - Aurangabad - Rajhara Jharkhand (207) 207
99 Dobhi - Chatra - Chandwa Jharkhand (110) 110
100 Chatra - Hazaribagh - Bogoda Jharkhand (118) 118
101 Chhapra - Baniapur - Mohamadpur Bihar (60) 60
102 Chhapra - Rewaghat - Muzzaffarpur Bihar (80) 80
103 Hajipur - Mushrigharari Bihar (55) 55
104 Chakia - Sitamarhi - Jaynagar - Narharia Bihar (160) 160
105 Darbhanga - Aunsi - Jaynagar Bihar (66) 66
106 Birpur - Madhepura - Bihpur Bihar (130) 130
107 Maheshkhunt - Sonbarsaraj - Simri Bakhtiarur - Bariahi - Saharsa Bihar (145) 145
- Madhepura - Purnea
108 Dharasu - Uttarkashi - Yamnotri - Dham Uttranchal 127
109 Rudraprayag - Guptkashi - Gangotri Dham Uttranchal 76
110 Arwal - Biharsharif Bihar (89) 89
111 Bilaspur - Ambikapur Chhattisgarh (200) 200
112 Bar - Barmer Rajasthan (343) 343
113 Nimahera - Dahod Rajasthan (200); Gujarat (40) 240
114 Balesar - Pokaran Rajasthan (180) 180
continued

continued
(km) (km)
116 Tonk - Swaimadhopur Rajasthan (80) 80
117 Kona Expressway - Bakkhali West Bengal (133) 133
119 Meerut - Bijnor - Najibabad Uttar Pradesh (125); Uttranchal (135) 260
121 Kahipur - Bubakhal Uttranchal (252) 252
123 Vikasnagar - Barkot bend Uttranchal (95) 95
125 Sitarganj - Pithorgarh Uttranchal (201) 201
150 Aizawal - Churachandpur - Imphal - Ukhrul - Jessami - Kohima Manipur (523); Mizoram (141); Nagaland (36) 700
151 Karimganj - Bangaladesh border Assam (14) 14
152 Patacharkuchi - Bhutan Border Assam (40) 40
153 Ledo - Lekhapani - Indo/Myanmar - Border Assam (20); Arunachal Pradesh (40) 60
154 Dhaleswar - Bhairabi- Kanpui Assam (110); Mizoram (70) 180
155 Mokokchung - Jessami Nagaland (125); Manipur (5) 130
200 Raipur - Bilaspur - Rajgarh - Kanaktora - Jharsuguda - Kochinda - Orissa (440); Madhya Pradesh (300) 740
Deogarh - Talcher - Chandhikhole
201 Borigumma - Bolangir - Bargarh Orissa (310) 310
202 Hyderabad - Warrangal - Venkatpuram - Bhopalpattnam Andra Pradesh (244); Chhattisgarh (36) 280
203 Bubaneshwar - Puri-Konark Orissa (97) 97
203A Puri - Satpada Orrisa (49) 49
204 Ratnagiri - Kolhapur Maharashtra (126) 126
205 Anantpur - Renugunta - Chennai Andra Pradesh (360); Tamil Nadu (82) 442
206 Tumkur - Shimoga - Honnavar Karnataka (363) 363
207 Hosur - Surajpur - Devanhalli - Neelamangala Karnataka (135); Tamil Nadu (20) 155
208 Kolaam - Tenkasi - Rajapalayam - Thirumangalam(Madurai) Kerala (70); Tamil Nadu (125) 195
209 Dindigul -Pollachi- Palani - Coimbatore - Annur - Kollegal - Tamil Nadu (286); Karnataka (170) 456
Bangalore
210 Trichy - Devakottai - Ramanathapuram Tamil Nadu (160) 160
211 Solapur - Osmanbad - Aurangabad - Dhule Maharashtra (400); Chhattisgarh (174) 574
212 Kozhikode - Mysore - Kollegal Karnataka (160); Kerala (90) 250
213 Palghat - Kozhicode Kerala (130) 130
214 Kathipalli - Kakinada - Pamarru Andra Pradesh (270) 270
214A Digamarru - Ongole Andhra Pradesh (255) 255
215 Panikoli - Keonjhar - Rajamundra Orissa (348) 348
216 Raigarh - Sarangarh - Saraipalli Chhatisgarh (80) 80
217 Raipur - Gopalpur Chhatisgarh (70); Orissa (438) 508
218 Bijapur - Jevargi -Gulbarga - Homnabad Karnataka (399) 399
219 Madnapalli - Kuppam - Krishnagiri Andhra Pradesh (128); Tamil Nadu (22) 150
220 Kollam(Qulian) - Theni Kerala (210); Tamil Nadu (55) 265
221 Junction of NH 9 near Vijaywada - Kondapalli - Mailavaram Andhra Pradesh (155) 155
222 Junction Near Kalyan - Ahmednagar - Pachegaon (NH 211) Maharashtra (550); Andhra Pradesh (60) 610
223 Andaman Trunk Road Andaman & Nicobar (300) 300
224 Junction near Khurda - Nayagarh - Balangir Orissa (298) 298
continued

continued
(km) (km)
226 Thanjavur-Pudukottai-Sivaganga-Manamadurai Tamil Nadu (144) 144
226 Ext The highways starting from Perambalur connecting Perali, Tamil Nadu 84
Keelapalur, Ariyalur, Kunnam, Thiruvaiyaru, Kandiyur and joining
NH-226 at Thanjavur
227 Thiruchirapalli-Lalgudi-Chidambaram road Tamil Nadu (135) 135
228 Ahmedabad Dandi route Gujarat (374) 374
229 The highways starting from Tawang passing through Bomdila, Arunanchal Pradesh 1090
Nechipu, Seppa, Sagalee, Ziro, Daporijo, Aalong and terminating
at Pasighat in the State of Arunachal Pradesh
230 The highways starting from Madurai connecting Tiruppuvanam, Tamil Nadu 82
Poovandhai, Sivganga, Kalaiyarkoil, Tiruvadanai and terminating
at Tondi Port town
231 The highway starting from Raibareli connecting Salon, Uttar Pradesh 169
Pratapgarh, Machlishahar and terminating at Jaunpur
232 The highway starting from Ambedkarnagar (Tanda) connecting Uttar Pradesh 305
Sultanpur, Amethi, Raibareli, Lalganj, Fatehpur and terminating at
Banda
232A The highway starting from Unnao and terminating at Lalganj Uttar Pradesh 68
(junction of NH 232)
233 The highway starting from India/Nepal border (connecting to Uttar Pradesh 292
Lumbani) via Naugarh, Sidarthnagar, Bansi, Basti, Tanda,
Ajamgarh and terminating at Varansi
234 The highway starting from Mangalore connecting Beltangadi, Karnataka (553); Andhra Pradesh (23); Tamil 780
Mudigare, Belur, Huliyar, Sira, Madhugiri, Chintamani in Nadu (204)
Karnataka, Venktagiri Kota in Andhra Pradesh, Pernampet,
Gudiyattam, Katpadi, Vellore, Pushpagiri, Polur and terminating at
Tiruvanamalai-V
235 The highway starting from Meerut connecting Hapur, Gulawthi Uttar Pradesh 66
and terminating at Bulandshahar
NE-1 Ahmedabad - Vadodara Gujarat (93) 93
NE-2 Eastern Peripheral Expressway around in UP and Haryana Haryana (44), Uttar Pradesh (90) 134
Grand total 70,548
Data available as on December 11, 2008
NE: National Express Highway
Source: Ministry of Roads, Transport & Highways

Table 7: Indian national highways by state/UT
State / Union territory Length (km)
Andhra Pradesh 4,537
Arunachal Pradesh 1,992
Assam 2,836
Bihar 3,642
Chandigarh 24
Chhattisgarh 2,184
Delhi 72
Goa 269
Gujarat 3,245
Haryana 1,512
Himachal Pradesh 1,409
Jammu & Kashmir 1,245
Jharkhand 1,805
Karnataka 4,396
Kerala 1,457
Madhya Pradesh 4,670
Maharashtra 4,176
Manipur 959
Meghalaya 810
Mizoram 927
Nagaland 494
Orissa 3,704
Pondicherry 53
Punjab 1,557
Rajasthan 5,585
Sikkim 62
Tamil Nadu 4,832
Tripura 400
Uttaranchal 2,042
Uttar Pradesh 6,774
West Bengal 2,578
Andaman & Nicobar 300
Total 70,548
Data available as on December 11, 2008
Source: National Highways Authority of India

Table 8: Statewise road length in relation to area and population
Road length
Total road length Area Population Per 100 per 1 million
1
(kms) (sq kms) (million) sq kms of area of population
Andhra Pradesh 188,568 275,069 81 69 2,328
Bihar 81,656 94,163 91 87 895
Chhattisgarh 35,406 135,191 23 26 1,559
Gujarat 74,075 196,024 55 38 1,340
Haryana 32,896 44,212 23 74 1,402
Himachal Pradesh 30,834 55,673 6 55 4,759
Karnataka 143,592 191,791 56 75 2,542
Kerala 154,679 38,863 33 398 4,637
Madhya Pradesh 72,421 308,255 67 23 1,084
Maharashtra 281,430 307,713 105 91 2,672
North Eastern States 102,000 262,179 41 39 2,468
Orissa 238,034 155,707 39 153 6,100
Punjab 51,173 50,362 26 102 1,955
Rajasthan 188,540 342,239 63 55 3,009
Tamil Nadu 226,956 130,058 65 175 3,475
Uttar Pradesh 248,481 240,928 184 103 1,347
West Bengal 188,703 88,752 86 213 2,206
1
Estimated mid-year population by Registrar General of India, Ministry of Home Affairs
2
Excluding Jawahar Rojgar Yojna roads
3
North Eastern States includes Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura.
Source: NHAI, State PWDs and CRISIL Research

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2.0 Investments
Table 1: Investments in road sector

Plan Period Total plan Total transport Share of Road sector Share of
investments sector investments total plan investments total plan
(Rs billion) (Rs billion) (per cent) (Rs billion) (per cent)
First Plan 1951-56 20 4 22.1 1 7.5
Second Plan 1956-61 47 11 23.5 2 5.2
Third Plan 1961-66 86 20 23.1 4 5.1
Annual Plan 1966-69 66 10 15.6 3 4.7
Fourth Plan 1969-74 158 25 16.0 9 5.5
Fifth Plan 1974-79 394 55 14.1 17 4.3
Sixth Plan 1980-85 1,093 142 13.0 39 3.6
Seventh Plan 1985-90 2,187 295 13.5 63 2.9
Annual Plan 1990-92 1,231 174 14.1 38 3.1
Eighth Plan 1992-97 4,341 559 12.9 161 3.7
Ninth Plan
1 1997-2002 8,586 n.a. n.a. 386 4.5
Tenth Plan 2002-2007 9,209 2,001 21.7 1,109 12.0

2002-03 1,440 126 8.8 85 5.9
2003-04 1,479 346 23.4 183 12.4
2004-05 1,637 366 22.4 181 11.0
2005-06 2,113 542 25.7 337 15.9
2006-07 2,540 620 24.4 323 12.7
Eleventh Plan 2007-2012
2007-08 3,200 853 26.7 377 11.8
2008-09 3,216 n.a. n.a. 548 17.0
n.a.: Not available
1
Figures relate to plan outlay. Actual allocation for only central sector roads was around Rs 196.63 billion
Plan investments are the budgeted estimates for a particular year
Transport Sector includes Railways, Road Transport and Highways, Shipping, Civil Aviation & Roads and Bridges
Road sector investments include Road Transport and Highways and Roads & Bridges
Source: Planning Commission & CRISIL Research

Table 2: Central road sector outlay/expenditure
(Rs billion) Annual Plan Annual Plan Annual Plan Annual Plan Annual Plan Total Outlay
10th Plan (2002-03) (2003-04) (2004-05) (2005-06) (2006-07) Allocated From
Schemes Outlay Exp. Outlay Exp. Outlay RE Outlay RE Outlay 2002-2007
Externally aided (RW) 3,200 155 10 61 0 114 30 200 4 0 403
Externally aided (NHAI) 10,790 2,003 1,503 2,330 1,449 3,210 2,000 2,400 2,350 1,582 10,016
Other schemes - N.H. (O) 8,664 1,440 1,425 1,544 1,475 1,482 1,630 1,427 1,577 1,550 7,444
Works under BRDB 950 145 210 210 256 210 210 415 415 584 1,564
Other charges (Domestic 20 2 0 2 0 1 1 2 1 2 5
Travel & Publicity etc.)
Development of 20 4 2 5 2 3 3 6 3 6 24
Information Technology
Strategic Roads under 50 10 10 20 25 20 20 71 71 74 192
BRDB/ RW
Research & Development 20 3 2 3 0 8 8 5 5 6 25
of planning Studies
Training 11 2 0 12 11 1 1 2 2 2 18
Machinery & Equipment 15 2 2 7 6 3 3 16 16 10 38
Charged Expenditure 50 5 5 5 4 5 5 5 5 5 25
NHAI Investment from 10,500 2,000 2,000 1,993 1,993 1,848 1,848 3,270 3,270 6,407 15,518
Central Road Fund (CRF)
NHAI (IBER) 24,700 n.a n.a n.a n.a n.a n.a n.a n.a n.a n.a
Roads of Inter-State & 500 100 25 100 65 96 96 171 171 281 5,994
economic importance for
States / UTs from CRF
Total 59,490 5,870 5,195 6,291 5,284 7,000 5,855 7,989 7,888 10,509 41,265
n.a: Not available
RE: Revised estimates; BRDB: Border Roads Development Board;
NHAI: National Highways Authority of India; CRF: Central Road Fund; UT: Union Territories
RW: Railways; IBER: Internal external budgetary resources;
Exp: Expenditure; N.H. (O): National highway (others)
Source: Ministry of Road Transport & Highways

Table 3: Statewise accrual/allocation from Cess (2007-08)
States/UT Allocation Allocation
(Rs million) (under CRF) (under EI & ISC)
Andhra Pradesh 1,311 59
Arunachal Pradesh 167 64
Assam 261 64
Bihar 385 32
Chhattisgarh 404 20
Goa 82 -
Gujarat 971 64
Haryana 616 66
Himachal Pradesh 181 21
Jammu & Kashmir 509 17
Jharkhand 354 9
Karnataka 979 233
Kerala 484 27
Madhya Pradesh 939 128
Maharashtra 1,615 207
Manipur 53 1
Meghalaya 81 7
Mizoram 47 29
Nagaland 41 58
Orissa 521 121
Punjab 629 28
Rajasthan 1,198 59
Sikkim 21 127
Tamil Nadu 1,068 2
Tripura 33 20
Uttarakhand 191 64
Uttar Pradesh 1,431 67
West Bengal 537 57
Andaman & Nicobar Islands 19 -
Chandigarh 23 10
Dadra & Nagar Haveli 11 20
Daman & Diu 8 20
Delhi 447 -
Lakshdweep 1 -
Pondicherry 37 -
Total 15,653 1,699
CRF: Central road fund
EI & ISC: Economic importance and inter state connectivity fund
data as on November 28, 2007
Source: Lok Sabha query

Table 4: Revenues from cess on petrol and diesel
(Rs billion) 2003-04 2004-05 2005-06 2006-07 2007-08 upto September 2008
Cess on petrol 16 18 25 26 28 -
Cess on diesel 64 74 96 99 104 -
Total 80 92 121 125 131 75
Source: Budget Documents 2008-2009, PIB
Table 5: Statewise release of funds under centrally sponsored scheme

Pradhan Mantri Gram Sadak Yojana
Sr No Name of the State 2004-05 2005-06 2006-07 2007-08 2008-09
(Rs billion) Amount Amount Amount Amount Amount
released released released released released
1 Andhra Pradesh 3.7 4.1 3.1 3.2 3.2
2 Arunachal Pradesh 1.1 1.0 1.0 0.0 0.1
3 Assam 3.5 9.3 9.7 0.0 0.2
4 Bihar 0.0 0.0 6.7 2.0 5.9
5 Chhattisgarh 5.1 10.4 8.5 9.0 0.0
6 Goa 0.0 0.0 0.0 0.0 0.0
7 Gujarat 0.5 2.4 1.1 2.4 0.0
8 Haryana 0.4 0.8 2.0 4.5 0.0
9 Himachal Pradesh 1.4 2.0 2.5 1.5 0.0
10 Jammu & Kashmir 1.4 1.0 0.0 0.0 0.0
11 Jharkhand 1.3 2.4 0.0 0.0 0.0
12 Karnataka 1.0 2.0 3.3 5.6 0.0
13 Kerala 0.5 0.3 1.5 0.0 0.0
14 Madhya Pradesh 8.2 6.9 17.2 12.0 4.0
15 Maharashtra 1.4 9.0 7.3 0.0 0.0
16 Manipur 0.0 1.0 0.0 0.0 0.0
17 Meghalaya 0.4 1.3 0.0 0.0 0.0
18 Mizoram 0.9 6.1 7.4 0.0 0.0
19 Nagaland 0.2 0.7 1.0 0.0 0.0
20 Orissa 7.5 7.8 6.0 8.0
21 Punjab 0.8 0.8 4.6 1.7 0.0
22 Rajasthan 6.1 9.7 18.2 20.4 1.5
23 Sikkim 0.6 0.9 10.6 0.3 0.0
24 Tamil Nadu 1.1 0.9 1.4 0.0 0.0
25 Tripura 0.0 2.2 4.2 0.0 0.0
26 Uttar Pradesh 0.0 0.0 0.0 0.0 0.0
27 Uttaranchal 1.0 0.7 0.0 0.0 0.0
28 West Bengal 0.0 0.0 0.0 0.0 0.0
Total states 29.0 66.0 66.0 70.4 14.8
As on April 2009
Source: Pradhan Mantri Gram Sadak Yojana Online System

Table 6: Proposed programme for devlopment of state roads for Eleventh Five-Year Plan (2007-2012)
Scheme Physical Financial Possible element of
(km) (Rs billion) private finance (Rs bilion)
I. Core Network
(i) Expressways
A. Land acquisition 500 5 Nil
B. Construction 300 45 30
(ii) Four-laning 5,000 200 100
(iii) Two-laning
A. with Paved Shoulders 20,000 300 120
B. with Hard Shoulders 20,000 -
(iv) Strengthening weak pavement and riding quality improvement 25,000 100 30
(v) Bypasses, ROBs, bridges, flyovers Lump sum 120 30
(vi) Missing gaps to link up new SEZs, ports, ICDs, satellite towns, 700 30 10
expressways, etc.
Sub-total for core network 71,500 800 320
II. Non-Core Network

A. North-East Region
(i) Two-laning 2,500 25 Nil
(ii) Providing hard shoulders and upgrading of surface on single lane roads 3,000 10 Nil
including riding quality improvements
(iii) Replacement of semi-permanent timber bridges Lump sum 10 Nil

(iv) Bypasses, safety engineering works, etc. Lump sum 5 Nil
Subtotal for NE region 5,500 50 Nil
B. Other States
(i) Two-laning 10,000 75 Nil
(ii) Riding quality improvement of existing two lane roads 10,000 15 Nil
(iii) Providing hard shoulders and upgrading of surface on single lane roads 20,000 40 Nil
(iv) Bypasses, ROBs, bridges, safety engineering measures Lump sum 20 Nil
Subtotal for other states 40,000 150

Grand Total 1,000 320
Source: Working group report - Eleventh Five-Year Plan

Table 7: Funds required and available for NH maintenance
Year Requirement Actual provided Shortfall % shortfall
(Rs million) (Rs million) (Rs million)
1981-82 556 470 86 15
1982-83 600 510 90 15
1983-84 719 610 109 15
1984-85 1,083 750 333 31
1985-86 1,168 900 268 23
1986-87 1,768 943 825 47
1987-88 1,772 990 782 44
1988-89 1,980 1,424 556 28
1989-90 1,945 1,436 510 26
1990-91 2,579 1,531 1,048 41
1991-92 2,913 1,668 1,245 43
1992-93 3,300 1,687 1,613 49
1993-94 4,150 2,145 2,005 48
1994-95 4,750 2,469 2,281 48
1995-96 5,350 2,884 2,466 46
1996-97 5,700 3,720 1,980 35
1997-98 6,000 4,975 1,025 17
1998-99 10,000 5,498 4,502 45
1999-2000 12,500 7,030 5,470 44
2000-01 13,500 7,025 6,475 48
2001-02 20,000 7,250 12,750 64
2002-03 22,000 8,000 14,000 64
2003-04 22,000 7,317 14,683 67
2004-05 24,800 7,456 17,344 70
2005-06 25,000 8,681 16,319 65
2006-07 25,000 8,144 16,856 67
Source: Eleventh Five-Year Plan & CRISIL Research
Table 8: Financing of NHAI

Year Cess External Loans Borrowings Budgetary Toll Total
(Rs billion) funds assistance support collection
1999-00 10 4 - - - - 14
2000-01 18 5 1 6 - - 30
2001-02 21 8 1 8 - - 38
2002-03 20 12 3 56 - 3 94
2003-04 20 12 3 - - 4 38
2004-05 18 12 4 13 - 5 52
2005-06 33 24 6 15 14 8 100
2006-07 64 16 4 15 1 11 111
2007-08 65 18 4 20 2 14 123
2008-09 - - - - - 18* -
Total 269 111 25 133 17 62 600
* Estimate
Source: Economic Survey 2007-08, NHAI, CRISIL Research

3.0 NHDP
Table 1: NHDP - Phase I Status

NHDP Phase I *
Completed Under implementation
No. of Length Projects cost No. of Length Projects cost
States contracts (kms) (Rs billion) contracts (kms) (Rs billion)
Andhra Pradesh 28 1,111 44 - - -
Assam 1 10 1 - - -
Bihar 4 225 12 1 30 2
Chhattisgarh 1 18 1 - - -
Delhi 1 28 6 - - -
Goa 1 30 1 - - -
Gujarat 11 541 22 - - -
Haryana 2 162 6 - - -
Jharkhand - - - 1 79 3
Karnataka 12 476 21 5 201 8
Kerala - - - 1 10 1
Maharashtra 15 537 21 1 14 1
Orissa 6 248 10 4 216 9
Punjab - - - - - -
Rajasthan 13 651 23 - - -
Tamil Nadu 9 437 18 8 414 26
Uttar Pradesh 15 674 33 7 378 20
West Bengal 9 396 30 1 53 3
Total 128 5,544 247 29 1,395 73
Continued

continued
NHDP Phase I *
Balance for award ^ Total #
Andhra Pradesh - - - 28 1,111 44
Assam - - - 1 10 1
Bihar - - - 5 255 14
Chhattisgarh - - - 1 18 1
Delhi - - - 1 28 6
Goa - - - 1 30 1
Gujarat - - - 11 541 22
Haryana - - - 2 162 6
Jharkhand - - - 1 79 3
Karnataka - - - 17 677 29
Kerala - - - 1 10 1
Maharashtra - - - 16 551 22
Orissa - - - 10 464 20
Punjab 1 20 - 1 20 -
Rajasthan - - - 13 651 23
Tamil Nadu 1 6 - 18 857 44
Uttar Pradesh - - - 22 1,052 52
West Bengal - - - 10 449 33
Total 2 26 - 159 6,965 320
Notes:
* NHDP Phase I includes Golden Qurdrilateral, Port Connectivity and other projects which are not a part of any other
NHDP programme
^ Balance for award also includes contracts which are terminated and to be reawared again
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis of median
assumption for the stretches where the information was not available. Data as on March 31, 2009
Source: NHAI and CRISIL Research

Table 2: NHDP - Phase II Status
NHDP Phase II
Andhra Pradesh 6 226 11 11 481 20
Assam 3 29 2 26 630 52
Bihar 1 15 1 14 486 40
Delhi 1 9 1 - - -
Gujarat 10 438 22 3 238 13
Haryana 3 141 10 2 42 2
Jammu & Kashmir - - - 7 135 7
Karnataka 3 65 4 1 61 4
Kerala 2 34 3 2 70 6
Madhya Pradesh 5 130 8 10 504 27
Maharashtra 2 35 1 5 111 5
Punjab 4 198 13 1 44 3
Rajasthan 7 398 26 7 213 15
Tamil Nadu 8 158 9 14 571 44
Uttar Pradesh 7 324 21 20 782 52
West Bengal 3 72 5 2 58 4
Total 65 2,271 135 125 4,424 294
NHDP Phase II
Balance for award Total #
Andhra Pradesh 1 60 - 18 767 30
Assam 1 31 - 30 690 55
Bihar - - - 15 501 40
Delhi - - - 1 9 1
Gujarat - - - 13 676 35
Haryana - - - 5 183 12
Jammu & Kashmir 13 265 - 20 399 7
Karnataka - - - 4 126 8
Kerala 1 58 - 5 162 9
Madhya Pradesh - - - 15 634 35
Maharashtra 1 95 - 8 241 7
Punjab - - - 5 242 16
Rajasthan - - - 14 611 40
Tamil Nadu 1 82 - 23 811 53
Uttar Pradesh - - - 27 1,105 73
West Bengal 1 201 - 6 331 9
Total 19 792 - 209 7,488 429
Note:
NHDP Phase II include North South East West (NSEW) Corridor
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis of median assumption
for the stretches where the information was not available. Data as on March 31, 2009

Table 3: NHDP - Phase III Status
NHDP III
Andhra Pradesh - - - - - -
Arunachal Pradesh - - - - - -
Assam - - - - - -
Bihar - - - - - -
Chhattisgarh - - - 2 128 7
Delhi - - - - - -
GOA - - - - - -
Gujarat - - - - - -
Haryana - - - 2 92 6
Himachal Pradesh - - - - - -
Jharkhand - - - - - -
Karnataka - - - 5 205 20
Kerala - - - - - -
Madhya Pradesh 1 14 1 2 163 9
Maharashtra 1 30 1 5 388 19
Manipur - - - - - -
Meghalaya - - - - - -
Mizoram - - - - - -
Nagaland - - - - - -
Orissa - - - - - -
Pondichery - - - - - -
Punjab 1 36 2 3 128 8
Rajasthan 1 57 3 1 108 5
Tamil Nadu - - - 6 527 31
Tripura - - - - - -
Uttar Pradesh - - - 3 199 9
Uttaranchal - - - - - -
West Bengal - - - - - -
Jammu Kashmir - - - - - -
Total 4 137 6 29 1,938 114
Continued

continued
NHDP III
Balance for award Total #

Andhra Pradesh 5 460 - 5 460 -
Arunachal Pradesh 1 22 - 1 22 -
Assam 5 613 - 5 613 -
Bihar 10 1,015 - 10 1,015 -
Chhattisgarh 2 51 - 4 179 7
Delhi 2 28 - 2 28 -
GOA 2 208 - 2 208 -
Gujarat 5 523 - 5 523 -
Haryana 6 481 - 8 573 6
Himachal Pradesh 1 103 - 1 103 -
Jharkhand 4 265 - 4 265 -
Karnataka 6 451 - 11 656 20
Kerala 3 667 - 3 667 -
Madhya Pradesh 7 618 - 10 795 10
Maharashtra 8 520 - 14 938 20
Manipur 1 111 - 1 111 -
Meghalaya 2 136 - 2 136 -
Mizoram 2 235 - 2 235 -
Nagaland 1 28 - 1 28 -
Orissa 6 553 - 6 553 -
Pondichery 1 4 - 1 4 -
Punjab 3 215 - 7 379 10
Rajasthan 7 772 - 9 937 7
Tamil Nadu 10 987 - 16 1,514 31
Tripura 1 195 - 1 195 -
Uttar Pradesh 4 398 - 7 597 9
Uttaranchal 3 234 - 3 234 -
West Bengal 2 498 - 2 498 -
Jammu Kashmir 1 101 - 1 101 -
Total 111 10,491 - 144 12,566 120
Note:
NHDP Phase III include four laning of two-laned roads
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis of median
assumption for the stretches where the information was not available. Data as on March 31, 2009

Table 4: NHDP - Phase V status
NHDP V
Under implementation
No. of Length Projects cost
States contracts (kms) (Rs billion)
Andhra Pradesh 1 83 3
Delhi 1 4 0
Gujarat 3 387 20
Punjab 1 291 19
Rajasthan 1 226 12
Tamil Nadu 1 43 2
Total 8 1,034 56
Note:
NHDP Phase V includes six laning of existing four-laned roads
#Total project cost includes CRISIL Research's estimation on the cost of projects on the
basis of median assumption for the stretches where the information was not available.
Data as on March 31, 2009
Table 5: NON NHDP Projects-status

Non NHDP Projects
Under implementation
No. of Length Projects cost
States contracts (kms) (Rs billion)
Kerala 1 17 2
Rajasthan 1 30 1
Tamil Nadu 3 114 6
West Bengal 1 6 0
Total 6 167 9
Note:
Non NHDP Projects includes work on the Special projects and NH 34.
basis of median assumption for the stretches where the information was not available

Table 6: NHDP - Phase I (Contractwise details)
Phase I
Annuity BOT Cash Contracts Externally Aided Projects
Total Projects Total Projects Total Projects Total Projects
length costs length costs length costs length costs
States (kms) (Rs billion) # (kms) (Rs billion) # (kms) (Rs billion) # (kms) (Rs billion) #
Andhra Pradesh 176 9 158 8 574 20 204 7
Assam - - - - 10 1 - -
Bihar - - - - - - 255 14
Chhattisgarh - - 18 1 - - - -
Delhi - - 28 6 - - - -
Goa - - 30 1 - - - -
Gujarat - - 93 5 330 13 118 4
Haryana - - - - 36 2 126 4
Jharkhand - - - - - - 79 3
Karnataka 77 5 99 4 242 10 259 10
Kerala - - 10 1 - - - -
Maharashtra - - 177 8 316 12 57 2
Orissa - - 77 4 388 15 56 2
Punjab 20 - - - - - - -
Rajasthan - - 91 6 473 13 86 4
Tamil Nadu 93 5 283 14 505 25 - -
Uttar Pradesh - - 18 1 105 6 930 46
West Bengal 129 8 59 7 187 13 75 5
Total 496 27 # 1,141 67 # 3,167 129 # 2,245 99
Notes:
NHDP Phase I includes Golden Qurdrilateral, Port Connectivity and other projects which are not a part of any other NHDP programme
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis of median assumption for the
stretches where the information was not available.


Table 7: NHDP - Phase II (Contractwise details)
Phase II
Annuity BOT Cash Contracts Externally Aided Projects
Total Projects Total Projects Total Projects Total Projects
length costs length costs length costs length costs
States (kms) (Rs billion) # (kms) (Rs billion) # (kms) (Rs billion) # (kms) (Rs billion) #
Andhra Pradesh 294 16 162 4 62 2 249 8
Assam - - - - 690 55 - -
Bihar 10 4 - - 332 26 159 11
Delhi - - - - 21 2 - -
Gujarat 76 5 36 3 96 4 468 23
Haryana - - 10 3 57 3 116 6
Jammu Kashmir - - - - 399 7 - -
Karnataka 61 4 - - 65 4 - -
Kerala - - 128 6 34 3 - -
Madhya Pradesh 228 15 - - 42 2 364 18
Maharashtra - - 95 - 175 8 - -
Punjab - - - - 121 8 161 10
Rajasthan - - - - 270 18 341 23
Tamil Nadu 82 - 361 23 368 30 - -
Uttar Pradesh 194 17 33 2 126 8 776 48
West Bengal - - 201 - 130 9 - -
Total 946 61 1,026 40 2,987 188 2,633 147
Note:
NHDP Phase II Include North South East West (NSEW) Corridor
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis of median assumption for the
stretches where the information was not available.


Table 8: NHDP - Phase III (Contractwise details)
Phase III
BOT Cash Contracts
Total length Projects costs Total length Projects costs
States
(kms) (Rs billion) # (kms) (Rs billion) #
Andhra Pradesh 460 16 - -
Arunachal Pradesh 22 - - -
Assam 613 - - -
Bihar 1,015 - - -
Chhattisgarh 179 7 - -
Delhi 28 - - -
Goa 208 - - -
Gujarat 523 - - -
Haryana 573 6 - -
Himachal Pradesh 103 - - -
Jammu Kashmir 265 - - -
Jharkhand 641 19 - -
Karnataka 667 - 14 1
Kerala 795 10 - -
Madhya Pradesh 938 20 - -
Maharashtra 111 - - -
Manipur 136 - - -
Meghalaya 235 - - -
Mizoram 28 - - -
Nagaland 553 - - -
Orissa 4 - - -
Pondichery 379 10 - -
Punjab 937 7 - -
Rajasthan 1,514 31 - -
Tamil Nadu 195 - - -
Tripura 597 9 - -
Uttar Pradesh 234 - - -
Uttaranchal 60 - - -
West Bengal 101 - 438 -
Total 12,114 135 # 452 1
Note:
NHDP Phase III include four laning of two-laned roads
#Total project cost includes CRISIL Research's estimation on the cost of projects on the basis
of median assumption for the stretches where the information was not available.

Table 9: NHDP - Phase V (Contractwise details)
Phase V
BOT
Total length Projects costs
States (kms) (Rs billion) #
Andhra Pradesh 83 3
Delhi 4 0
Gujarat 387 20
Punjab 291 19
Rajasthan 226 12
Tamil Nadu 43 2
Total 1,034 56
Note:
Table 10: NON NHDP - Contractwise details

Non NHDP Projects
Cash Contracts
Total length Projects costs
States (kms) (Rs billion) #
Kerala 17 2
Rajasthan 30 1
Tamil Nadu 114 6
West Bengal 6 0
Total 167 9
Note:

4.0 Player profile
Table 1: Companies with exposure to roads sector - Margins and RoCE

Company Year Operating profit Net Profit RoCE
Ending margins Margins (per cent)
(per cent) (per cent)
Hindustan Construction Co. Ltd - Consolidated Mar-07 11.8 1.3 7.1
Mar-08 14.4 2.9 10.1
Mar-09 15.8 0.0 10.0
ITD Cementation India Ltd - Consolidated Dec-06* 9.1 0.6 16.7
Dec-07 7.3 -0.5 26.5
Dec-08 11.8 0.4 12.4
IVRCL Infrastructures & Projects Ltd - Consolidated Mar-07 11.4 6.1 15.2
Mar-08 14.2 8.6 16.9
Mar-09 12.6 6.9 -
Larsen & Toubro Ltd - Consolidated Mar-06 11.0 8.7 28.5
Mar-07 13.3 11.2 30.3
Mar-08 15.4 8.1 23.5
Nagarjuna Construction Co. Ltd Mar-07 10.3 3.3 12.2
Mar-08 11.8 4.6 12.1
Mar-09 10.5 3.9 -
Patel Engineering Co.Ltd Mar-06 16.3 10.6 28.4
Mar-07 13.4 9.0 17.5
Mar-08 21.2 15.0 17.1
Reliance Infrastructure Ltd Mar-07 8.8 12.2 14.4
Mar-08 7.4 14.7 8.4
Mar-09 11.0 9.8 -
Gammon Infrastructure Projects Ltd Mar-07 63.0 35.1 5.3
Mar-08 52.8 25.8 3.6
Mar-08 47.7 28.6 -
Noida Toll Bridge Ltd Mar-07 79.8 23.4 4.8
Mar-08 75.8 42.4 8.6
Mar-09 73.3 42.0 -
IRB Infrastructure Developers Ltd Mar-07 56.8 9.1 4.4
Mar-08 59.1 16.1 3.6
Mar-09 44.1 17.9 -
Simplex Infrastructure Ltd Mar-06 8.2 2.9 16.8
Mar-07 8.9 3.2 16.2
Mar-08 9.3 2.7 17.8
* includes ITD Cementation India Ltd. standalone financials
Source: CRISIL Research

Table 2: Afcons/Shapoorji Pallonji - Details of NHDP contracts executed
Stretch NH No States Funded Length Dates Cost Contractor/
by (kms) Start Scheduled (Rs million) Developers
Own projects 155 5,662
1
Palasa - Srikakulam 5 Andhra NHAI 74 n.a n.a 2,298 SPCL (Shapoorji Pallonji)
Pradesh
1
Kanchipuram - Poonamalee 4 Tamil Nadu NHAI 56 Jul 2001 May 2007 1,644 Afcon Infrastructure Ltd
1
Nandi Hills Cross to Devanhalli 7 Karnataka NHAI 25 Sep 2001 Aug 2008 1,721 Afcon Infrastructure Ltd
& Six laning of Meenukunte to
Habbal -NS - 24
JV/Consortium projects 65 1,837

Hubli - Haveri 4 Karnataka NHAI 65 Jun 2001 Mar 2008 1,837 Afcon Infrastructure Ltd /
1
Apil
as on March 31, 2009
n.a.: Not available
NHAI: National Highways Authority of India
Footnote:
'1' refers to projects being executed on EPC basis
Note:
1) Project cost refers to the award (EPC) cost to civil contractors; actual project cost could be higher (including interest during
construction and other costs)
2) Projects under implementation mainly relate to 4-laning unless mentioned otherwise
Source: National Highways Authority of India & CRISIL Research
Table 3: Ashoka Buildcon - Details of NHDP Contracts Executed

JV/Consortium projects 34 921
Westerly Diversion- 4 Maharashtra NHAI 34 Jun 2000 Oct 2003 921 Ashoka Buildcon/ Birla
1
Pune Bypass GTM Enterprise Ltd.
n.a.: Not available
Footnote:
Note:

Table 4: Ashoka Buildcon - Details of NHDP Contracts Under Implementation
Chhattisgarh/Maharashtra 6 Maharashtra BOT 80 Sep 2007 n.a. n.a. Ashoka IDFC
Border-Wainganga Bridge Consortium - IDFC
2
(WBMC ) Consortium (JV)
1
Chittorgarh Bypass (CB ) 76,79 Rajasthan NHAI 30 Aug 2005 Dec 2008 n.a. Ashoka Valecha
End of Durg Bypass- 6 Chhattisgarh BOT 83 n.a. n.a. 4,640 Ashoka-IDFC

2
Chattisgarh/Maharashtra Consortium (JV)
Border (MGD )
n.a.: Not available
BOT: Build, Operate & Transfer
Footnote:
'2' refers to projects being executed on BOT Toll/Annuity/SPV basis
Note:
Table 5: Gammon India Ltd - Details of NHDP Contracts Executed

1
Bridges section 5 Orissa NHAI 12 Aug 2001 Apr 2008 1,446 Gammon India Ltd
2
Dharmavaram - 5 Andhra Pradesh Annuity 53 May 2002 Mar 2005 2,190 Gammon India Ltd
Rajamundry
Aurangabad - 2 Bihar WB 60 Sep 2001 Jul 2007 2,849 Gammon India
Barachatti Ltd/Oriental Structural
2
Engineers Ltd
n.a.: Not available
WB: World Bank; NHAI: National Highways Authority of India
Footnote:
Note:

Table 6: Gammon India Ltd - Details of NHDP Contracts Under Implementation
Own Projects 222 14,940
1
Maibang to Lumding - 54 Assam NHAI 23 May 2006 Nov 2009 1,676 Gammon India Ltd
AS-26
1
Maibang to Lumding - 54 Assam NHAI 15 May 2006 Nov 2009 1,550 Gammon India Ltd
AS-24
1
Brahmputra Bridge - 31 Assam NHAI 5 Oct 2006 Apr 2010 2,176 Gammon India Ltd
AS-28
1
Forbesganj-Simrahi 57 Bihar NHAI 40 Apr 2006 Jun 2009 3,329 Gammon India Ltd
(BR-3)
1
Ganga Bridge to 25 Uttar Pradesh NHAI 6 Dec 2005 Jun 2009 1,550 Gammon India Ltd
Rama Devi Crossing
(UP-6)
1
Haveri - Harihar 4 Karnataka EAP 56 Nov 2008 Jul 2010 2,009 Gammon India Ltd
1
Harihar - Chitradurga 4 Karnataka EAP 77 Oct 2008 Jul 2010 2,649 Gammon India Ltd

Gorakhpur Bypass 28 Uttar Pradesh Annuity 32.6 Apr 2007 Jun 2009 6,002 Gammon India Ltd -
GIPL - ATSL
2
Consortium
Kosi Bridge including 57 Bihar Annuity 10 Apr 2007 Mar 2010 4,180 Gammon India Ltd -
2
approaches and GIPL Consortium
Guide Bond & Afflux
Bond
Bhuneshwer - Khurda 5 Orissa NHAI 26.3 Jan 2001 Dec 2008 1,189 Gammon India
1
Ltd/Atlanta
Agra - Shikohabad 2 Uttar Pradesh WB 50.83 Mar 2002 Jul 2008 3,285 Gammon India
(GTRIP/IA ) Ltd/Oriental Structural
2
Engineers Ltd
Gonde-Vadape- 3 Maharashtra BOT 100 Apr 2006 Apr 2009 5,790 Gammon India Ltd -
Thane (GVT ) Sadbhav-Billimoria &
2
Co. Ltd.(JV)
Chambal Bridge 76 Rajasthan NHAI 1.4 Nov 2006 Sep 2010 n.a. Hyundai Eng. Cons Co.
(RJ-5) Ltd & Gammon India -
1
(JV)
n.a.: Not available
BOT: Build, Operate & Transfer; EAP: External Assistance Programme
Footnote:
Note:
Source: National Highways Authority of India & Crisil Research

Table 7: Gammon Infrastructure Projects Ltd - Financial details
Profit and Loss Account
Rs million, unless otherwise stated 2005-06 % of 2006-07 % of 2007-08 % of 2008-09 % of
net sales net sales net sales net sales
Operating income 147 100.0 196 100.0 271 100.0 480 100.0
Operating expenses 65 44.3 48 24.7 74 27.4 251 52.3
Employee costs 16 10.9 23 11.9 53 19.7 - -
SG&A 1 0.7 1 0.3 - - - -
OPBDIT 65 44.0 124 63.2 143 52.8 229 47.7
Interest 6 3.8 0 0.2 10 3.6 9 1.9
Depreciation 1 0.7 19 9.6 19 7.1 20 4.1
OPBT 58 39.5 105 53.4 114 42.1 200 41.7
Other Income & Non Recurring Transaction 23 15.7 15 7.6 4 1.4 - -
PBT 81 55.1 120 61.0 118 43.5 200 41.7
Tax 13 8.9 51 25.9 48 17.7 63 13.1
Profit after tax |PAT| 68 46.2 69 35.1 70 25.8 137 28.6
Balance sheet
(Rs million) Mar-06 Mar-07 Mar-08
Tangible net worth 2,354 2,188 4,494
Equity share capital 1,280 1,280 1,421
Reserves and surplus 1,074 908 3,074
Deferred tax liability: |asset| 0 15 24
Total debt - - 293
Long-term debt
Short-term debt - - 29
Current liabilities & provisions 67 120 293
Sundry creditors 24 1 1
Total liabilities 2,421 2,323 5,104
Gross block 1.9 10 11

Net fixed assets 3 10 10
Investments 1,650 1,720 2,462
Marketable investments - - -
Current assets 768 594 2,633
Cash and Bank balance 683 291 2,416
Loans & advances to group & subs. 17 185 10
Total assets 2,421 2,324 5,104
Key Financial Indicators

Units Mar-06 Mar-07 Mar-08
Operating margins Per cent 44.0 63.0 52.8
Net margins Per cent 46.2 35.1 25.8
RoCE Per cent 5.0 5.3 3.6
Gearing Times - - 0.1
Interest coverage Times 11.6 309.8 14.6
NCA/total debt Times - - 0.3
Current ratio Times 11.2 3.4 9.0

Table 8: Gayatri - Details of NHDP contracts executed
1
Vijaywada- 5 Andhra Pradesh JBIC 25 Mar 1999 Jan 2003 602 Gayatri / IJM
Chilkaluripet-I
1
Chilkaluripet -II
1
Chilkaluripet -III
1
Chikaluripet - Ongole 5 Andhra Pradesh NHAI 66 Jun 2001 Mar 2006 2,254 Gayatri / IJM
2
Kesariaji - Ratanpur 8 Rajasthan NHAI 48 Oct 2001 Mar 2005 1,261 Gayatri / Ranjit

n.a.: Not available
National Highways Authority of India; JBIC: Japan Bank for International Cooperation
Footnote:
Note:
Table 9: Gayatri - Details of NHDP contracts under implementation

Jhansi to Lalitpur - 25, 26 Uttar Pradesh Annuity 50 Mar 2007 Sep 2009 3,551 Gayatri - IDFC
2
UP-2 - NS-1 Consortium
Jhansi to Lalitpur - 26 Uttar Pradesh Annuity 49 Mar 2007 Sep 2009 2,761 Gayatri - IDFC
2
UP-3 - NS-1 Consortium
1
Maibang to Lumding 54 Assam NHAI 21 Oct 2006 Dec 2009 2,000 Gayatri -ECI (JV)
- AS-27
n.a.: Not available
Footnote:
Note:

Table 10: GMR - Details of NHDP Contracts Executed
2
Ankapalli - Tuni 5 Andhra Pradesh Annuity 59 May 2002 Jan 2005 2,832 GMR/UEM
Kadloor Yellareddy to 7 Andhra Pradesh Annuity 86 Sep 2006 Mar 2009 5,462 GMR Energy Ltd &
Kallkal village - NS-2 GMR Infrastructure
2
Ltd. Consortium
Farukhanagar to 7 Andhra Pradesh BOT 46 Aug 2006 Feb 2009 672 GMR Energy Ltd &
Jadcheria - NS - 2 GMR Infrastructure
2
Ltd. Consortium
Ambala - Zirakpur- 21,22 Haryana[6] / BOT 36 May 2006 Nov 2008 na GMR Energy Ltd &
Chandigarh ( AZ ) Punjab[30] GMR Infrastructure
2
Projects Ltd
n.a.: Not available
NHAI: National Highways Authority of India; BOT: Build, Operate & Transfer
Footnote:
Note:
Table 11: GMR - Details of NHDP Contracts Under Implementation

JV/Consortium projects 71
Thindivanam-Ulundurpet 45 Tamil Nadu BOT 71 Oct 2006 May 2009 n.a. GMR Infrastructure Ltd-
2
(PKG-VI-A ) GMR Energy Ltd(JV)
n.a.: Not available
Footnote:
Note:

Table 12: Hindustan Construction Co. Ltd - Details of NHDP contracts executed
Kolaghat - Kharagpur 6 West Bengal NHAI 61 Dec 2000 Mar 2005 3,910 Hindustan
1
Construction Co. Ltd

Barachatti-Gorhar 2 Bihar, WB 80 Mar 2002 Jul 2007 4,347 Larsen & Toubro /
(TNHP/IV-D) Jharkhand Hindustan
1
Construction Co. Ltd.
Kota to Chittorgarh 76 Rajasthan ADB 63 Oct 2005 Dec 2008 4,405 CEC - Hindustan
1
(RJ-7) Construction Co. Ltd.
Cable Stayed bridge 27 Uttar Pradesh JBIC 6 Oct 2000 Jul 2004 n.a. Hyundai - Hindustan
1
on river Yamuna near Construction Co. Ltd.
Naini
n.a.: Not available
WB: World Bank; ADB: Asian Development Bank
NHAI: National Highways Authority of India; JBIC: Japan Bank for International Cooperation
Footnote:
Note:

Table 13: Hindustan Construction Co. Ltd - Details of NHDP contracts under implementation
Allahabad Bypass-II 2 Uttar Pradesh WB 39 Jun 2004 Jun 2009 n.a. Hindustan
1
Construction Co. Ltd.
Kadtal to Armur - NS 7 Andhra Pradesh Annuity 31 Oct 2007 Dec 2009 n.a. Hindustan
2
-2 Construction Co. Ltd.
Harangajo to 54 Assam NHAI 16 Aug 2006 Dec 2009 2,800 Hindustan
1
Maibang - AS-23 Construction Co. Ltd.
Gorakhpur-Ayodhya 28 Uttar Pradesh WB 29 Nov 2005 Jun 2009 2,050 Hindustan
1
(LMNHP-4) Construction Co. Ltd.
Ayodhya-Lucknow 1,28 Uttar Pradesh WB 42 Nov 2005 Jun 2009 2,120 Hindustan
1
Ayodhya-Lucknow 28 Uttar Pradesh WB 47 Oct 2005 Jun 2009 2,170 Hindustan
1
Ayodhya-Lucknow 1,28 Uttar Pradesh WB 36 Oct 2005 Jun 2009 1,930 Hindustan
1
Paradip Port 5A Orissa SPV 77 Feb 2004 Jun 2009 4,280 Hindustan
2
Chennai Bypass 45,4 & Tamil Nadu NHAI 32 May 2005 Jun 2009 4,800 Hindustan
1
Phase II 5 Construction Co. Ltd.
n.a.: Not available
Footnote:
Note:

Table 14: Hindustan Construction Co. Ltd - Financial details - Consolidated
Rs million, unless otherwise stated 2006-07 % of 2007-08 % of 2008-09 % of
net sales net sales net sales
Operating income 23,143 100.0 30,126 100.0 35,880 100.0
Operating expenses 22,567 97.5 25,214 83.7 25,134 70.0
Employee costs 2,198 9.5 3,198 10.6 3,896 10.9
Other expenses (4,343) (18.8) (2,616) (8.7) 1,174 3.3
OPBDIT 2,721 11.8 4,330 14.4 5,676 15.8
Interest 1,101 4.8 1,949 6.5 3,862 10.8
Depreciation 825 3.6 1,094 3.6 1,458 4.1
OPBT 795 3.4 1,288 4.3 356 1.0
Other Income & Non Recurring Transaction (98) (0.4) 56 0.2 128 0.4
PBT 697 3.0 1,344 4.5 483 1.3
Tax 387 1.7 477 1.6 495 1.4
Profit after tax |PAT| 310 1.3 867 2.9 (12) (0.0)
Balance sheet
Equity share capital 256 256 256
Reserves and surplus 7,967 8,133 6,274
Deferred tax liability: |asset| 852 1,128 1,222
Total debt 19,502 27,005 40,524
Long-term debt 16,918 23,189 35,137
Short-term debt 2,583 3,816 5,387
Current liabilities & provisions 11,518 14,734 24,632
Sundry creditors 7,348 8,804 13,263
Gross block 11,224 14,357 20,125

Net fixed assets 9,084 12,266 25,406
Investments 180 491 953
Marketable investments 46 304 822
Current assets 30,829 38,652 46,549
Cash and Bank balance 2,652 3,390 2,191
Loans & advances to group & subs. - - -
Total assets 40,094 51,409 72,907
Key financial indicators

Gearing Times 2.4 3.2 6.6
NCA/total debt Times 0.0 0.1 0.0

Table 15: IJM Corporation Berhad - Details of NHDP contracts executed
1
Chilkaluripet-I
1
Chilkaluripet -II
1
Chilkaluripet -III
1
Chikaluripet - Ongole 5 Andhra Pradesh NHAI 66 Jun 2001 Mar 2006 2,254 Gayatri / IJM
Chennai Bypass 4,45 Tamil Nadu NHAI 19 Jun 1998 Nov 2001 n.a. IJM - Satyam
1
Phase I Construction Ltd.

n.a.: Not available
JBIC: Japan Bank for International Cooperation;
Footnote:
Note:
Table 16: IJM Corporation Berhad - Details of NHDP contracts under implementation
Lalitpur - Sagar - C - 26 Madhya ADB 55 Apr 2006 Dec 2009 2,250 IJM Corporation
1
4 Pradesh Berhad
Mahua - Jaipur 11 Rajasthan BOT 108 Mar 2006 Mar 2009 4,830 IJM Corporation
2
Berhad
Chilkallurupet- 5 Andhra BOT 83 n.a. n.a. n.a. IJM Corporation
2
Vijayawada-Six Lane Pradesh Berhad-IDFC Ltd.(JV)
(AP-01)
Ulundrupet - Padalur 1,45 Tamil Nadu BOT 93 Dec 2006 May 2009 4,600 IJM Corporation
(Pkg-VI-B) Berhad - Sapoorji
2
Pallonji (JV)
n.a.: Not available
ADB: Asian Development Bank; BOT: Build, Operate & Transfer
Footnote:
Note:

Table 17: IJM Corporation Berhad: Financial details
Year Mar-06 Mar-07 Mar-08
(million USD)
Sales Revenue Turnover 442 640 1,376
Cost of goods sold 351 509 1,084
EBITDA 84 108 n.a
Depreciation 11 18 n.a
EBIT 73 91 (2)
Intrest 13 20 47
EBT 60 71 (48)
Income tax expenses 20 22 46
Source: Bloomberg
Table 18: ITD Cementation (I) Ltd - Details of NHDP contracts executed
Wathar - Satara 4 Maharashtra NHAI 35 Jul 2001 Dec 2003 960 Skanska Cementation
1
India Ltd.
Vaniyambadi- 46 Tamil Nadu NHAI 51 Nov 2001 Feb 2006 1,837 Skanska Cementation
1
Pallikonda India Ltd.
Pallikonda - Ranipet 46 Tamil Nadu NHAI 45 Oct 2001 Jan 2006 1,693 Skanska Cementation
1
& Walahjapet Bypass India Ltd.
Icchapuram - Kolram 5 Andhra NHAI 33 Sep 2001 Dec 2005 975 Skanska Cementation
1
Pradesh India Ltd.
Kolram - Palasa 5 Andhra NHAI 29 Sep 2001 Aug 2005 988 Skanska Cementation
1
Pradesh India Ltd.

Jhansi2-Shivpuri 25 Madhya ADB 35 Aug 2005 Dec 2008 2,137 ITD Cementation (I)
(EW-II - MP-2) Pradesh Ltd.- Cem
1
India (JV)
n.a.: Not available
ADB: Asian Development Bank; NHAI: National Highways Authority of India
Footnote:
Note:

Table 19: ITD Cementation (I) Ltd - Details of NHDP contracts under implementation
Vijaypur - Pathankot 1A Jammu NHAI 34 Sep 2005 Dec 2009 1,921 ITD Cementation (I)
1
- NS-34 Kashmir Ltd.
Vijaypur - Pathankot 1A Jammu NHAI 30 Sep 2005 Dec 2009 1,663 ITD Cementation (I)
1
- 1 - NS-35 Kashmir Ltd.
Pathankot-Bhogpur - 1A Punjab NHAI 44 Nov 2005 Dec 2009 2,840 ITD Cementation (I)
1
NS - 37 Ltd.
Assam / WB Border 31C West Bengal NHAI 32 Jun 2006 Jun 2009 2,218 Italian Thai Dev.
1
to Gairkatta - WB-1 Projects Co. Ltd.
Kota Bypass (RJ-4) 76 Rajasthan NHAI 25 May-06 Dec 2009 2,750 ITD Cementation (I)
1
Ltd.- CemIndia (JV)
n.a.: Not available
Footnote:
Note:

Table 20: ITD Cementation India Ltd - Financial details
Rs million, unless otherwise stated Dec-06* % of net sales Dec-07 % of net sales Dec-08 % of net sales
12 months 12 months 12 months
Employee costs 512 10.6 807 11.8 1,116 8.9
SG&A 372 7.7 598 8.7 785 6.3
OPBDIT 440 9.1 806 11.8 914 7.3
Interest 351 7.3 545 8.0 615 4.9
Depreciation 99 2.0 158 2.3 240 1.9
OPBT (10) (0.2) 103 1.5 59 0.5
Other Income & Non Recurring Transaction 36 0.7 80 1.2 81 0.6
PBT 26 0.5 23 0.3 140 1.1
Tax (1) (0.0) 59 0.9 92 0.7
Profit after tax |PAT| 27 0.6 (36) (0.5) 48 0.4
Balance sheet
(Rs million) Dec-06* Dec-07 Dec-08
Deferred tax liability: |asset| - (32) 2
Total debt 1,656 848 4,352
Long-term debt 127 340 343
Short-term debt 1,530 508 4,009
Gross block 1,385 1,863 2,772

Net fixed assets 848 1,044 2,060
Investments 11 - -
Current assets 5,728 8,265 11,864
Cash and Bank balance 187 751 405
Loans & advances to group & subs. - - 43
Total assets 6,587 9,309 13,924

Units Dec-06* Dec-07 Dec-08
Net margins Per cent 0.6 -0.5 0.4
RoCE Per cent 16.7 26.5 12.4
* includes ITD Cementation India Ltd. standalone financials

Table 21: IVRCL Infrastructure & Projects Ltd - Details of NHDP contracts executed
Own Projects 14 746
Guna Bypass (GUB ) 25 Madhya Pradesh BOT 14 Jan 2006 Dec 2007 746 IVRCL Infrastructure
2
Projects Ltd.
n.a.: Not available
SPV: Special Purpose Vehicle; NHAI: National Highways Authority of India
JBIC: Japan Bank for International Cooperation; EPC: Engineering, Procurement & Construction
Footnote:
Note:
Table 22: IVRCL Infrastructure & Projects Ltd - Details of NHDP contracts under implementation
Salem to Kerala 47 Tamil Nadu BOT 54 Jul 2006 Apr 2009 4,698 IVRCL Infrastructure
2
Border Section - TN-6 Projects Ltd.
Salem to Kerala 47 Tamil Nadu BOT 49 Jul 2006 Apr 2009 3,798 IVRCL Infrastructure
2
Border Section - TN - Projects Ltd.
7
Madurai- 7 Tamil Nadu NHAI 39 Sep 2005 May 2009 4,742 IVRCL Infrastructure
1
Kanniakumari Section Projects Ltd.
- NS -40
Madurai- 7 Tamil Nadu NHAI 40 Sep 2005 May 2009 2,324 IVRCL Infrastructure
1
Kanniakumari Section Projects Ltd.
- NS - 41
Jalandhar - Amritsar 1 Punjab BOT 49 May 2006 Nov 2008 2,630 IVRCL Infrastructure
2
( JA ) Projects Ltd.
n.a.: Not available
Footnote:
Note:

Table 23: IVRCL Infrastructure & Projects Ltd - Financial Details - Consolidated
Operating income 16,916 100.0 24,919 100.0 38,423 100.0 49,525 100.0
Operating expenses 14,597 86.3 20,602 82.7 30,503 79.4 41,270 107.4
Employee costs 509 3.0 1,017 4.1 1,745 4.5 2,238 5.8
SG&A 231 1.4 449 1.8 705 1.8 1,172 3.1
OPBDIT 1,579 9.3 2,851 11.4 5,470 14.2 4,845 12.6
Interest 509 3.0 581 2.3 767 2.0 1,351 3.5
Depreciation 123 0.7 247 1.0 371 1.0 531 1.4
OPBT 947 5.6 2,024 8.1 4,332 11.3 2,963 7.7
Other Income & Non Recurring Transaction 152 0.9 82 0.3 499 1.3 387 1.0
PBT 1,099 6.5 2,106 8.4 4,831 12.6 3,350 8.7
Tax 137 0.8 574 6.2 1,518 4.0 699 1.8
Profit after tax |PAT| 962 5.7 1,532 6.1 3,313 8.6 2,651 6.9
Balance sheet
Deferred tax liability: |asset| 31 46 (33)
Total debt 7,804 7,897 17,248
Long-term debt 4,961 4,059 7,118
Short-term debt 2,842 3,837 10,130
Gross block 2,027 3,288 5,128

Net fixed assets 1,629 11,823 11800
Current assets 17,734 23,960 47,924
Loans & advances to group & subs. 213 357 2,446
Total assets 19,399 35,804 59,724

RoCE Per cent 15.7 15.2 16.9

Table 24: Larsen & Toubro Ltd - Details of NHDP contracts executed
1
Sira - Tumkur 4 Karnataka ADB 41 Mar 2002 Jan 2005 1,532 Larsen & Toubro Ltd
1
Valelapat - 4 Tamil Nadu NHAI 36 Sep 2008 Jan 2004 1,216 Larsen & Toubro Ltd
Kanchipuram
1
Laxmannath - 60 Orissa NHAI 53 Mar 2008 May 2007 2,579 Larsen & Toubro Ltd
Baleshwar
1
Bhadrak - Chandikhole 5 Orissa NHAI 76 Dec 2000 May 2005 2,839 Larsen & Toubro Ltd
1
Bridges Section 5 Andhra NHAI 3 Aug 2008 Mar 2005 1,029 Larsen & Toubro Ltd
(AP-19) Pradesh
1
Bridges Section 5 Andhra NHAI 0 Aug 2001 May 2005 1,003 Larsen & Toubro Ltd
(AP-20) Pradesh
1
Tada - Chennai 5 Tamil Nadu NHAI 42 Jun 2001 Dec 2005 1,850 Larsen & Toubro Ltd
1
Kaijali - Manor 8 Maharashtra ADB 57 Nov 2000 Nov 2003 1,689 Larsen & Toubro Ltd
2
Panipat Elevated 1 Haryana BOT 10 Jan 2006 Jun 2008 2,700 Larsen & Toubro Ltd
Highway
2
Jadcheria to Kotakatta 7 Andhra BOT 56 Aug 2006 Mar 2009 3,137 Larsen & Toubro Ltd
- NS - 2 Pradesh
2
Krishnagiri to 7 Tamil Nadu BOT 63 Jul 2006 Jan 2009 3,727 Larsen & Toubro Ltd
Thopurghat - NS-2
1
RJ/MP Border to Kota 76 Rajasthan ADB 70 Sep 2005 Oct 2008 3,114 Larsen & Toubro Ltd
(RJ-11)
2
Allahabad Bypass- 2 Uttar Pradesh WB & 1 Sep 2003 Oct 2008 55 Larsen & Toubro Ltd
Bridge I BOT
JV/Consortium 80 4,347
projects
Barachatti-Gorhar 2 Bihar, WB 80 Mar 2002 Jul 2007 4,347 Larsen & Toubro /
1
(TNHP/IV-D) Jharkhand HCC Ltd.
n.a.: Not available
JBIC: Japan Bank for International Cooperation
Footnote:
Note:

Table 25: Larsen & Toubro Ltd: Details of NHDP contracts under implementation
2
Palanpur to 14 Gujarat / Annuity 76 Sep 2006 Jun 2009 4,980 Larsen & Toubro Ltd
Swaroopganj Rajasthan
Vadodra to Bharuch 8 Gujarat BOT 83 Jan 2007 Jul 2009 3,808 L&T Badodra Bharuch
2
Package BOT-I (VBP-I ) Tollway Ltd.
2
Chennai-Tada-Six Lane 5 Tamil Nadu BOT 43 n.a n.a 2,320 Larsen & Toubro Ltd
(VI )

n.a.: Not available
Footnote:
Note:

Table 26: Larsen & Toubro Ltd - Financial Details - Consolidated
Employee costs 10,444 6.3 15,275 7.4 20,494 7.0 26,660 6.6
SG&A 11,236 6.7 14,730 7.2 16,099 5.5 26,423 6.5
OPBDIT 18,275 11.0 27,339 13.3 45,320 15.4 49,587 12.2
Interest 3,248 1.9 3,565 1.7 6,257 2.1 4,620 1.1
Depreciation 2,435 1.5 3,449 1.7 5,059 1.7 7,283 1.8
OPBT 12,592 7.6 20,326 9.9 28,640 9.7 37,684 9.3
Other Income & Non Recurring Transaction 6,218 3.7 9,981 4.8 7,003 2.4 5,920 1.5
PBT 18,811 11.3 30,307 14.7 35,644 12.1 43,604 10.8
Tax 4,313 2.6 7,327 3.6 11,717 4.0 14,257 3.5
Profit after tax |PAT| 14,497 8.7 22,980 11.2 23,927 8.1 29,347 7.2
Balance sheet
Deferred tax liability: |asset| 1,268 1,074 1,217
Total debt 34,971 64,318 123,159
Long-term debt 24,723 31,618 40,208
Short-term debt 10,248 32,699 82,952
Gross block 33,282 46,604 58,724

Net fixed assets 24,166 45,357 56,399
Investments 18,009 25,695 56,319
Marketable investments 7,337 14,613 55,820
Current assets 115,134 165,952 256,068
Loans & advances to group & subs. 2,701 2,286 2,154
Total assets 161,844 243,818 375,061

RoCE Per cent 28.5 30.3 23.5

Table 27: LG Engineering & Construction - Details of NHDP contracts executed
Mohania - Sasaram 2 Bihar WB 45 Feb 2001 Mar 2006 2,300 LG Engg &
1
(TNHP/IV-B) Construction
Ahmedabad-Vadodara NE1 Gujarat SPV 50 Jun 2001 May 2004 2,948 Nagarjuna Construction
Expressway -Phase-II Co. Ltd / LG Engg &
2
Construction
Atul - Kaijali 8 Gujarat ADB 39 Nov 2000 Jan 2004 1,621 Patel Engineering / LG
1
Engg & Construction
n.a.: Not available
SPV: Special Purpose Vehicle;
Footnote:
Note:
Table 28: Madhucon Ltd - Details of NHDP Contracts Executed

Own projects 14 735
1
Vijayawada - 5 Andhra NHAI 5 Jun 2000 Mar 2002 160 Madhucon Projects Pvt Ltd
Rajamundry Section Pradesh
near Eluru
1
Eight Laning of Mukarba 1 Delhi NHAI 9 Nov 2001 Jan 2007 575 Madhucon Projects Pvt Ltd
Chowk - Mall Road

Eluru-Vijayawada 5 Andhra ADB 72 Dec 1997 Jan 2002 2,750 Madhucon Projects Pvt Ltd
1
Pradesh /Binapuri
Chittorgarh - Mangalwar 76 Rajasthan NHAI 48 Nov 2001 Jan 2004 1,247 Madhucon Projects Pvt Ltd
1
/Binapuri
Bharatpur-Mahua 11 Rajasthan BOT 57 Apr 2006 Jan 2009 2,500 Madhucon Projects Pvt Ltd -
2
(BAM ) SREI (JV)
n.a.: Not available
Footnote:
Note:

Table 29: Madhucon Ltd - Details of NHDP Contracts Under Implementation
2
Thanjarur - Trichy (THT) 67 Tamil Nadu BOT 56 Dec 2006 Jun 2009 2,800 Madhucon Projects Pvt Ltd
1
Nagaon to Dharmatul - 37 Assam NHAI 25 Dec 2005 Dec 2009 2,647 Madhucon Projects Pvt Ltd
AS - 2
1
Jhanjhapur to Darbanga 57 Bihar NHAI 40 Apr 2006 Dec 2009 3,400 Madhucon Projects Pvt Ltd
(BR-7)
1
Mehsi to Kotwa 28 Bihar WB 40 Sep 2005 Dec 2009 2,390 Madhucon Projects Pvt Ltd
(LMNHP-11)

Madurai-Arupukottai- 45B Tamil Nadu BOT 128 Jan 2007 Jan 2010 6,290 Madhucon Projects Ltd -
Tuticorin (MAT) SREI- Madhucon Granites
2
Ltd. (JV)
Karur-Dindigul (TN-4) 7 Tamil Nadu BOT 68 Oct 2006 May 2009 3,272 Madhucon Projects Pvt Ltd -
2
SREI
n.a.: Not available
Footnote:
Note:

Table 30: Nagarjuna Construction Co. Ltd - Details of NHDP contracts executed
Stretch NH No States Funded by Length Dates Cost Contractor/Developers
(kms) Start Scheduled (Rs million)
Own Projects 32 n.a.
Amrawati Bypass 6 Maharashtra NHAI 17 Jun 2000 Jan 2003 n.a. Nagarjuna Construction Co.
1
Ltd
Six laning of Kamaspur 1 Haryana NHAI 15 Nov 1999 Nov 2001 n.a. Nagarjuna Construction Co.
1
- Haryana / Delhi Border Ltd

Ghaziabad - Hapur & 24 Uttar Pradesh JBIC 33 Apr 1999 Sep 2002 n.a. Nagarjuna Construction Co.
1
Hapur Bypass Ltd - KNR (JV)
Kanpur - Fatehpur 1,2 Uttar Pradesh WB 52 Mar 2002 Mar 2008 4,961 Som Dutt Builders /
Nagarjuna Construction
1
Sasaram - Dehri on- 2 Bihar WB 30 Mar 2002 Jul 2008 1,980 Co. Ltd - Navyuga Engg Ltd
sone(GTRIP/IV- C)
Deesa to Radhanpur 14 Gujarat ADB 85 Feb 2005 Sep 2008 3,999 Som Dutt Builders /
(Package-VI) Nagarjuna Construction
1
Ahmedabad-Vadodara NE1 Gujarat SPV 50 Jun 2001 May 2004 2,948 Co. Ltd
Expressway -Phase-II
Champawati- 5 Andhra NHAI 46 Jun 2001 Feb 2005 1,449 Daelim Industrial Corp. Ltd -
Vishakhapatnam Pradesh Nagarjuna
n.a.: Not available
SPV: Special Purpose Vehicle; NHAI: National Highways Authority of India
JBIC: Japan Bank for International Cooperation;
Footnote:
Note:

Table 31: Nagarjuna Construction Co. Ltd - Details of NHDP contracts under implementation
Lalitpur Sagar - C-3 26 Uttar Pradesh ADB 38 May 2006 Mar 2010 1,980 Nagarjuna Construction Co.
1
Ltd
Gorakhpur-Ayodhya 28 Uttar Pradesh WB 44 Oct 2005 Dec 2009 2,270 Nagarjuna Construction Co.
1
(LMNHP-5) Ltd
Kasia to Gorakhpur 28 Uttar Pradesh WB 40 Dec 2005 Dec 2009 2,420 Nagarjuna Construction Co.
1
(LMNHP-7) Ltd - VEE
Bara to Orai 2, 25 Uttar Pradesh Annuity 63 Oct 2006 Apr 2009 4,650 Nagarjuna Construction Co.
2
Ltd - KMC
Gagodhar to Garamore 15, 8A Gujarat ADB 90 Feb 2005 Nov 2009 4,128 Daelim Industrial Corp. Ltd-
(Package-IV) Nagarjuna Construction Co.
1
Ltd (JV)
Garamore to 1,8A Gujarat ADB 71 Feb 2005 Jun 2009 3,607 Daelim Industrial Corp. Ltd-
Bamanbore Nagarjuna Construction Co.
1
(Package-III) Ltd (JV)
Elevated Highway from 7 Karnataka BOT 10 Jul 2006 Jul 2008 4,500 Soma - Nagarjuna
Silk board junction to Construction Co. Ltd -
2
electronic city junction Maytas
Sasaram - Dehri on- 2 Bihar WB 30 Mar 2002 Jul 2008 1,980 Som Dutt
sone(GTRIP/IV- C) Builders/Nagarjuna
1
Construction Company Ltd
TN/Pondicherry Border - 66 Tamil Nadu BOT 36 Jan 2008 Jul 2010 2,064 Maytas - Nagarjuna
2
Tindivanam Construction Co. Ltd
Meerut-Muzaffarnagar 58 Uttar Pradesh BOT 79 Mar 2006 Mar 2009 3,590 Maytas - Nagarjuna
2
n.a.: Not available
Footnote:
Note:

Table 32: Nagarjuna Construction Co. Ltd: Financial details - Consolidated
Employee costs 2,252 12.5 3,817 13.3 4,959 13.9 2,591 5.4
SG&A 400 2.2 570 2.0 854 2.4 1,413 3.0
OPBDIT 1,672 9.3 2,969 10.3 4,211 11.8 5,043 10.5
Interest 284 1.6 710 2.5 1,277 3.6 1,737 3.6
Depreciation 182 1.0 381 1.3 610 1.7 823 1.7
OPBT 1,207 6.7 1,878 6.5 2,324 6.5 2,483 5.2
Other Income & Non Recurring Transaction (29) (0.2) (280) (1.0) 133 0.4 158 0.3
PBT 1,178 6.5 1,597 5.6 2,458 6.9 2,641 5.5
Tax 223 1.2 661 2.3 833 2.3 793 1.7
Profit after tax |PAT| 954 5.3 936 3.3 1,625 4.6 1,848 3.9
Balance sheet
Total debt 4,629 13,132 21,560
Long-term debt 576 3,572 6,628
Short-term debt 4,053 9,559 14,933
Gross block 2,570 6,077 8,328

Net fixed assets 1,938 7,072 12,924
Investments 1,119 1,124 2,792
Marketable investments - - 30
Current assets 15,190 23,621 35,400
Loans & advances to group & subs. - 683 236
Total assets 18,247 31,817 52,038

RoCE Per cent 20.7 12.2 12.1

Table 33: Patel Engineering Co. Ltd - Details of NHDP contracts executed
Own projects 32 n.a.
1
Hathipali - Hosur 7 Karnataka NHAI 16 Dec 1999 Aug 2002 n.a. Patel Engineering Co. Ltd
1
Hathipali - Hosur 7 Tamil Nadu NHAI 16 Dec 1999 Aug 2002 n.a. Patel Engineering Co. Ltd

Atul - Kaijali 8 Gujarat ADB 39 Nov 2000 Jan 2004 1,621 Patel Engineering Co. Ltd /
1
LG Engg & Construction
Krishnagiri-Vaniyambadi 46 Tamil Nadu NHAI 49 Nov 2001 Mar 2005 1,635 Patel Engineering Co. Ltd /
1
KNR
Kavali - Nellore 5 Andhra NHAI 44 May 2001 May 2005 1,471 Patel Engineering Co. Ltd /
1
Pradesh KNR
n.a.: Not available
ADB: Asian Development Bank
Footnote:
Note:
Table 34: Patel Engineering Co. Ltd - Details of NHDP contracts under implementation
AP/Karnatka border- 7 Karnataka Annuity 61 Mar 2007 Mar 2009 4,028 Patel Engineering - KNR
2
Nandi Hill (JV)
Madurai - NS - 39 - 7 Tamil Nadu NHAI 42 Sep 2005 Oct 2008 5,674 Patel Engineering - KNR
1
Tirunelveli Section (JV)
Madurai - Tirunelveli 7 Tamil Nadu NHAI 43 Oct 2005 Sep 2008 4,235 Patel Engineering - KNR
1
Section - NS - 43 (JV)
Lumding to Daboka - 54 Assam NHAI 19 n.a Sep 2010 1,300 Patel Engineering - KNR
1
AS-15 (JV)
Nagaon bypass - AS-18 37 Assam NHAI 23 Dec 2005 Jun 2009 2,300 Patel Engineering - KNR
1
(JV)
n.a.: Not available
Footnote:
Note:

Table 35: Patel Engineering Co. Ltd - Financial Details
Operating expenses 625 9.1 3,122 30.4 1,674 17.1
Employee costs 4,772 69.2 5,214 50.8 5,550 56.6
SG&A 378 5.5 553 5.4 500 5.1
OPBDIT 1,123 16.3 1,377 13.4 2,082 21.2
Interest 262 3.8 260 2.5 605 6.2
Depreciation 256 3.7 258 2.5 327 3.3
OPBT 604 8.8 859 8.4 1,150 11.7
PBT 775 11.2 1,052 10.2 1,582 16.1
Tax 46 0.7 129 1.3 106 1.1
Profit after tax |PAT| 729 10.6 923 9.0 1,476 15.1
Balance sheet
Total debt 2,585 3,248 6,578
Long-term debt 1,706 2,160 4
Short-term debt 880 1,089 6,574
Gross block 2,590 2,914 4,165

Investments 168 1,918 2,020
Current assets 6,861 10,757 16,745
Loans & advances to group & subs. 481 787 784
Total assets 8,802 14,716 21,755

RoCE Per cent 28.4 17.5 17.1

Table 36: Punj Lloyd Ltd - Details of NHDP contracts executed
1
Divancheru (near 5 Andhra NHAI 35 Jun 2001 Mar 2005 814 Punj Lloyd
Rajamundry)- Gowthami Pradesh
1
Kota to Chittorgarh 1,76 Rajasthan ADB 65 Oct 2005 Dec 2008 4,464 Punj Lloyd Ltd
(RJ-8)
Jaipur Bypass Phase II 8 Rajasthan NHAI 35 Sep 1998 Jan 2001 1,546 Progressive Const Ltd/ Punj
1
Lloyd
Nasirabad - Gulabpura 79 Rajasthan NHAI 56 Nov 2001 Jan 2004 1,318 Progressive Const Ltd/ Punj
1
Lloyd
Construction of Karur 7 Tamil Nadu NHAI 1 Jul 1999 Sep 2002 n.a. P.T. Sumber Mitra & Jaya -
1
ROB Punj Lloyd
2
Maharastra Border- 4 Karnataka Annuity 77 Jun 2002 Oct 2004 5,250 IL&FS - CTNL / Punj Lloyd
Belgaum
n.a.: Not available
Footnote:
Note:
Table 37: Punj Lloyd Ltd - Details of NHDP contracts under implementation
1
Silchar-Udarband - AS-1 54 Assam NHAI 32 Sep 2004 Jun 2009 1,546 Punj Lloyd Ltd
1
Lanka to Daboka - AS-16 54 Assam NHAI 24 Dec 2005 Jun 2009 2,250 Punj Lloyd Ltd
1
Guwahati to Nalbari - AS-4 31 Assam NHAI 28 Dec 2005 Jun 2009 1,760 Punj Lloyd Ltd
1
Guwahati to Nalbari - AS-5 31 Assam NHAI 28 Oct 2005 Jun 2009 1,982 Punj Lloyd Ltd
1
Nalbari to Bijni - AS-8 31 Assam NHAI 30 Dec 2005 Jun 2009 2,000 Punj Lloyd Ltd
1
Nalbari to Bijni - AS-9 31 Assam NHAI 22 Dec 2005 Jun 2009 1,420 Punj Lloyd Ltd

n.a.: Not available
Footnote:
Note:

Table 38: Punj Lloyd Ltd - Financial details - Consolidated
Employee costs 1,862 10.7 6,369 12.3 8,924 11.4 12,922 10.8
SG&A 2,100 12.0 5,446 10.5 6,045 7.7 23,235 19.4
OPBDIT 1,953 11.2 4,131 8.0 7,138 9.1 3,834 3.2
Interest 748 4.3 1,039 2.0 1,709 2.2 2,208 1.8
Depreciation 604 3.5 1,062 2.0 1,462 1.9 1,771 1.5
OPBT 601 3.4 2,031 3.9 3,967 5.1 (145) (0.1)
Other Income & Non Recurring Transaction (67) (0.4) 530 1.0 879 1.1 158 0.1
PBT 534 3.1 2,561 4.9 4,846 6.2 13 0.0
Tax 291 1.7 690 1.3 1,369 1.7 2,260 1.9
Profit after tax |PAT| 242 1.4 1,872 3.6 3,476 4.4 (2,247) (1.9)
Balance sheet
Total debt 5,550 17,500 16,553
Long-term debt 2,224 11,166 8,496
Short-term debt 3,325 6,334 8,058
Gross block 8,830 17,032 18,853

Net fixed assets 7,022 11,961 14,536
Investments 436 1,715 5,467
Current assets 14,964 41,208 55,355
Loans & advances to group & subs. 9 - -
Total assets 22,721 55,408 75,358


Table 39: Reliance Infrastructure Ltd - Detais of NHDP Projects Under Implementation
Own Projects 1,121 25,221
Salem-Ulundrupet ( SAU ) 68 Tamil Nadu BOT 256 Jan 2008 Jan 2011 9,410 Reliance Infrastructure
2
Ltd
NamakkalL-Karur ( TN-3 ) 7 Tamil Nadu BOT 219 Jul 2006 Apr 2009 2,056 Reliance Infrastructure
2
Ltd
Dindigul-Madura ( TN-5 ) 7 Tamil Nadu BOT 301 Jul 2006 Apr 2009 2,835 Reliance Infrastructure
2
Ltd
Trichy - Karur ( TK ) 67 Tamil Nadu BOT 256 Jan 2008 Jun 2010 5,160 Reliance Infrastructure
2
Ltd
Trichy-Dindigul ( DIT ) 45 Tamil Nadu BOT 88 Jan 2008 Jul 2010 5,760 Reliance Infrastructure
2
Ltd
n.a.: Not available
Footnote:
Note:

Table 40: Reliance Infrastructure Ltd - Financial details - Consolidated
Employee costs 2,128 5.5 2,918 4.3 3,763 4.7 6,315 4.9
Other expenses 1,849 4.7 4,395 6.4 5,518 6.9 7,174 5.6
OPBDIT 8,181 21.0 5,971 8.8 5,890 7.4 14,095 11.0
Interest 1,962 5.0 2,285 3.4 2,113 2.6 4,394 3.4
Depreciation 3,486 8.9 3,034 4.5 3,074 3.8 3,304 2.6
OPBT 2,733 7.0 652 1.0 702 0.9 6,397 5.0
Other Income & Non Recurring Transaction 4,287 11.0 8,442 12.4 12,978 16.2 6,978 5.4
PBT 7,019 18.0 9,095 13.3 13,680 17.1 13,375 10.4
Tax 506 1.3 750 1.1 1,891 2.4 783 0.6
Profit after tax |PAT| 6,514 16.7 8,345 12.2 11,789 14.7 12,592 9.8
Balance sheet
Deferred tax liability: |asset| 2,041 2,511 2,678
Total debt 42,669 66,304 59,036
Long-term debt 28,721 57,910 48,833
Short-term debt 13,948 8,395 10,203
Gross block 50,392 68,635 75,502

Net fixed assets 24,461 37,131 44,389
Investments 32,195 99,130 169,402
Marketable investments 9,541 44,321 26,433
Current assets 81,963 50,633 41,708
Total assets 138,620 186,894 255,499


Table 41: Simplex Infrastructure Ltd: Details of NHDP contracts executed
Ongole - Kavali 5 Andhra Pradesh NHAI 72 Aug 2001 Sep 2005 2,513 Simplex Infrastructure
1
Ltd / HO-HUP
n.a.: Not available
Footnote:
Note:
Table 42: Simplex Infrastructure Ltd - Details of NHDP contracts under implementation
Simrahi to Ring bund 57 Bihar NHAI 15 Apr 2006 Apr 2008 1,005 Simplex Infrastructure
1
(missing link) (BR-4) Ltd
UP/Bihar Border to Kasia 28 Uttar WB 41 Dec 2005 Dec 2008 2,270 Simplex Infrastructure
1
(LMNHP-8) Pradesh Ltd
Improvement of access of 205, 4 Tamil Nadu MORTH 4 Apr 2005 Jun 2009 2,100 Somdutt Builders/
GQ within & 45 Simplex
1
Chennai City Infrastructure
n.a.: Not available
MORTH: Ministry of Road Transport and Highways
Footnote:
Note:

Table 43: Simplex Infrastructure Ltd - Financial details
Employee costs 4,289 32.1 5,414 32.0 8,913 31.9
SG&A 229 1.7 380 2.2 457 1.6
OPBDIT 1,092 8.2 1,508 8.9 2,607 9.3
Interest 425 3.2 647 3.8 1,113 4.0
Depreciation 129 1.0 240 1.4 372 1.3
OPBT 537 4.0 621 3.7 1,123 4.0
PBT 549 4.1 702 4.1 1,130 4.0
Tax 165 1.2 165 1.0 366 1.3
Profit after tax |PAT| 385 2.9 537 3.2 764 2.7
Balance sheet
Total debt 4,442 6,867 7,487
Long-term debt 981 1,858 2,409
Short-term debt 3,461 5,009 5,078
Gross block 2,905 4,305 7,563

Current assets 8,666 13,598 20,522
Loans & advances to group & subs. 79 - -
Total assets 11,298 17,682 27,938

RoCE Per cent 16.8 16.2 17.8

Table 44: Sunway Construction Berhad - Details of NHDP contracts executed
Belgaum Bypass 4 Karnataka NHAI 18 Jun 2001 Jun 2006 976 RN Shetty Co/Sunway
1
Construction-Berhad
Belgaum - Dharwad 4 Karnataka NHAI 62 Apr 2002 Jun 2007 2,040 RN Shetty Co/Sunway
1
Construction-Berhad
n.a.: Not available
Footnote:
Note:
Table 45: Sunway Construction Berhad - Details of NHDP contracts under implementation
Orai to Jhansi (UP-4) 25 Uttar Pradesh ADB 66 Oct 2005 Dec 2009 4,160 Sunway Construction -
1
Berhad
RJ/MP Border to Kota 76 Rajasthan ADB 43 Oct 2005 Jun 2009 2,977 Sunway Construction -
1
(RJ-9) Berhad
Gorhar - Barwa Adda 2 Jharkhand WB 79 Sep 2001 Jun 2009 2,997 Progressive Const Ltd /
Sunway Construction -
1
Berhad
Varanasi - Mohania 2 Uttar Pradesh WB 76 Mar 2002 Jun 2009 3,965 Progressive Const Ltd /
(GTRIP/IV-A) Sunway Construction -
1
Berhad
n.a.: Not available
Footnote:
Note:

Table 46: Sunway Construction Berhad - Financial details
Year Dec-05 Dec-06 Dec-07
(million USD)
Sales Revenue Turnover n.a 422 321
Cost of goods sold n.a 200 159
EBITDA n.a 159 118
Depreciation n.a 20 14
EBIT n.a 139 104
Intrest n.a 27 16
EBT n.a 112 88
Income tax expenses n.a 22 19
Source: Bloomberg

Table 47: Noida Toll Bridge Ltd - Financial details
Rs million, unless otherwise stated 2005-06 % of 2006-07 % of 2007-08 % of 2008-09
net sales net sales net sales 12
Operating income 392 100.0 472 100.0 660 100.0 798
Operating expenses 72 18.3 50 10.6 83 12.5 108
Employee costs 40 10.1 39 8.3 71 10.7 103
SG&A 4 1.1 6 1.3 6 0.9 2
OPBDIT 276 70.5 377 79.8 500 75.8 585
Interest 205 52.3 154 32.5 152 23.0 149
Depreciation 61 15.7 127 26.8 86 13.1 48
OPBT 10 2.5 96 20.4 263 39.8 388
Other Income & Non Recurring Transaction 17 4.3 15 3.2 55 8.3 11
PBT 27 6.9 111 23.6 317 48.1 399
Tax 1 0.2 8 1.7 38 5.7 64
Profit after tax |PAT| 26 6.7 103 21.9 280 42.4 335
Balance sheet
Reserves and surplus 880 1,346 1,820
Deferred tax liability: |asset| - - -
Total debt 3,235 1,860 2,178
Long-term debt 3,235 1,860 2,178
Short-term debt - - -
Current liabilities & provisions 182 122 236
Sundry creditors 0 0 2
Gross block 4169.3 3,950 4,586

Investments 1,232 84 55
Current assets 1,362 1,098 1,795
Cash and Bank balance 302 2 17
Total assets 6,101 5,190 6,096


Table 48: IRB Infrastructure Developers Ltd: Details of NHDP contracts executed
Ratanpur-Himatnagar 8 Gujarat NHAI 54.6 Nov 2001 May 2004 1,380 IRB Infrastructure
1
Developers Ltd/Mudajaya
n.a.: Not available
Footnote:
Note:
Table 49: IRB Infrastructure Developers Ltd - Details of NHDP contracts under implementation
BHARUCH TO SURAT 8 GUJARAT BOT 65 Jan Jul 2009 14091 IRB Infrastructure
2
PACKAGE BOT-II (BSP-II) 2007 Developers Ltd
Jam - Wadner - NS-59 7 Maharashtra NHAI 30 Oct Apr 2008 n.a. IRB Infrastructure
1
2005 Developers Ltd
Devdhari - Kelapur -NS-6 7 Maharashtra NHAI 30 Oct Apr 2008 1440 IRB Infrastructure
1
2005 Developers Ltd
SURAT-DHAISAR 8 MAHARASHTRA BOT 239 Feb-09 Aug-11 28350 IRB Infrastructure
(MH-01) [120.77] / Developers Ltd - Deutsche
2
GUJARAT[118.2] Bank AG
n.a.: Not available
Footnote:
Note:

Table 50: IRB Infrastructure Developers Ltd - Financial details
Employee costs 148 4.6 341 4.3 425 4.3
SG&A - - - - - -
OPBDIT 1,848 56.8 4,639 59.1 4,374 44.1
Interest 877 27.0 1,958 25.0 1,377 13.9
Depreciation 526 16.2 1,016 12.9 1,144 11.5
OPBT 445 13.7 1,665 21.2 1,853 18.7
Other Income & Non Recurring Transaction - - - - 296 3.0
PBT 445 13.7 1,665 21.2 2,149 21.7
Tax 148 4.6 400 5.1 378 3.8
Profit after tax |PAT| 297 9.1 1,265 16.1 1,771 17.9
Balance sheet
(Rs million) Mar-07 Mar-08
Tangible net worth 3,775 16,207
Equity share capital 2,473 3,324
Reserves and surplus 1,303 12,883
Deferred tax liability: |asset| (6) 26
Total debt 26,297 20,493
Current liabilities & provisions 2,314 2,600
Sundry creditors 540 426
Total liabilities 32,380 39,325
Gross block 21,193 22,189

Net fixed assets 24,420 27,737
Investments 413 1,985
Marketable investments - -
Current assets 7,366 9,589
Cash and Bank balance 3,703 5,222
Loans & advances to group & subs. - -
Total assets 32,380 39,325

Units Mar-07 Mar-08
Operating margins Per cent 56.8 59.1
Net margins Per cent 9.1 16.1
RoCE Per cent 4.4 3.6
Gearing Times 7.0 1.3
Interest coverage Times 2.1 2.4
Current ratio Times 3.2 3.7

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Industry statistics July 2009

1.0 Road network C-1

1.0 Road network

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-i

4.0 Player profile

C-ii CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

41 Simplex Infrastructure Ltd: Details of NHDP contracts executed C-61

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-iii

Table 1: Freight and passenger movement

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-1

C-2 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

Table 4: Physical targets and achievements for Tenth Plan

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-3

C-4 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-5

C-6 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-7

C-8 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-9

C-10 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-11

C-12 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-13

Table 1: Investments in road sector

First Plan 1951-56 20 4 22.1 1 7.5

Second Plan 1956-61 47 11 23.5 2 5.2

Third Plan 1961-66 86 20 23.1 4 5.1

Annual Plan 1966-69 66 10 15.6 3 4.7

Fourth Plan 1969-74 158 25 16.0 9 5.5

Fifth Plan 1974-79 394 55 14.1 17 4.3

Sixth Plan 1980-85 1,093 142 13.0 39 3.6

Seventh Plan 1985-90 2,187 295 13.5 63 2.9

Annual Plan 1990-92 1,231 174 14.1 38 3.1

Eighth Plan 1992-97 4,341 559 12.9 161 3.7

Tenth Plan 2002-2007 9,209 2,001 21.7 1,109 12.0

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-15

C-16 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-17

Table 5: Statewise release of funds under centrally sponsored scheme

C-18 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

(ii) Four-laning 5,000 200 100

(v) Bypasses, ROBs, bridges, flyovers Lump sum 120 30

Sub-total for core network 71,500 800 320

II. Non-Core Network

(iii) Replacement of semi-permanent timber bridges Lump sum 10 Nil

Subtotal for NE region 5,500 50 Nil

Subtotal for other states 40,000 150

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-19

Table 8: Financing of NHAI

C-20 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

Table 1: NHDP - Phase I Status

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-21

C-22 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-23

C-24 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

No. of Length Projects cost No. of Length Projects cost

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-25

Table 5: NON NHDP Projects-status

C-26 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

stretches where the information was not available.

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-27

stretches where the information was not available.

C-28 CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW

CRISIL RESEARCH ROADS AND HIGHWAYS ANNUAL REVIEW C-29