Data Monitor: NHAI highway awards scaled a record level in the last fiscal

The NHAI awarded/opened bids for projects spanning ~4,970 km worth ~ Rs 1.4 trn in FY22, eclipsing the FY21 award figure of 4,818 km/ ~ Rs 1.3 trn.

NHAI awarding had remained muted till Feb-22, but it surged in Mar-22. In the new fiscal, given higher crude prices, it needs to be seen whether the projected contribution from cess funds can materialise, Edelweiss has said.