As per Axis Securities, the National Highways Authority of India’s (NHAI) road project awards could see a growth of around 9 to 11 per cent in FY 2026.
Although awarding activity has slowed down so far in the current year, a modest increase since November 2024 implies that growth momentum might pick up in the months ahead.
The report expects the total length of project awards in 2025-26 to fall between 8,500 and 9,000 km, similar to 2024-25 levels.
In 2024-25, NHAI constructed 5,614 km of national highways, exceeding its 5,150 km goal. Despite this, the government has set a lower goal for 2025-26 of 10,000 km, the lowest in the past seven years.