Reliance Infrastructure Ltd has decided to monetise its Pune Satara Toll Road (PSTR) project to focus on its core area of operation.
Cube Highways and Infrastructure III Pte Ltd. (Cube Highways), a Singapore based company, has agrees to acquire 100% stake in PS Toll Road Pvt. Ltd., the special purpose vehicle (SPV) that operates the project.
The transaction represents a significant milestone in Reliance Infrastructure’s ongoing strategy to monetise non-core assets, enhance financial flexibility, and focus on long-term value creation, a company official said.
The enterprise value for the PS Toll Road transaction is estimated at ₹2,000 crore, the official said.
As part of the transaction, Reliance Infrastructure is expected to realize equity proceeds of ₹600 crore.
The funds will be deployed towards future growth initiatives in core business areas, the official said.
In addition to value realisation, the transaction is expected to result in a reduction of consolidated debt by ₹1,400 crore, thereby further strengthening the company’s balance sheet, the official said.
PS Toll Road Pvt. Ltd. was established to develop, operate, and maintain a 140-kilometre six-lane expressway between Pune and Satara in Maharashtra, along National Highway NH-4 (now NH-48).
Developed under the Build-Operate-Transfer (Toll) model, the project forms a crucial segment of the Golden Quadrilateral, enhancing connectivity between Mumbai and Bengaluru. Toll collection on the corridor commenced in October 2010.
The transaction is expected to reach completion by the end of this month, subject to requisite regulatory approvals.
This transaction marks the second successful toll road deal between Reliance Infrastructure and Cube Highways, further strengthening the strategic relationship between the two infrastructure platforms.
In 2020, Reliance Infrastructure completed the sale of its Delhi-Agra Toll Road asset to Cube Highways for a total consideration of ₹3,600 crore.
Reliance Infrastructure currently operates a diversified portfolio of 7 toll road assets, spanning a total length of approximately 2,468 lane kilometres across key high-traffic corridors in India.
Published – August 22, 2025 10:10 pm IST
