Road Tenders Surge as Awards Set to Accelerate

In a significant development, road awarding activity is predicted to gather pace in the coming months as tendering has gained substantial momentum, according to a research report by Anand Rathi. The report highlights that road tenders nearly tripled year-on-year to approximately Rs 372 billion in August 2025, up from Rs 113 billion in August 2024. Awards in August this year stood at about Rs 339 billion, in stark contrast to a high of Rs 1.4 trillion in March 2025.

The report further elaborated, stating, "Road tenders almost trebled y/y from approx. Rs113 billion in August 2024 to approx. Rs372 billion." Additionally, it was noted that the bid value of tenders floated climbed by nearly 80 percent to about Rs 2.7 trillion in the period from June to August 2025, compared to Rs 1.5 trillion from March to May 2025.

In the fiscal year 2026, with the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways pinpointing 124 projects valued at around Rs 3.4 trillion to be awarded, the report anticipates an acceleration in road awards. Currently, live tenders are valued at approximately Rs 1.85 trillion, with roads accounting for 59 percent, railways for 11 percent, and ports for 10 percent. A remarkable 80 percent of these live tenders were published in the last three months, while only 4 percent are older than one year. Notably, the size of tenders has also increased substantially, with 52 percent surpassing Rs 30 billion in June to August 2025, compared to just 6 percent in March to May 2025.

(With inputs from agencies.)