Highway cat monetization may swell by ₹ 20,000 crore in BoT revaluation

“From the government’s point of view, BoT projects are ideal because these projects do not pose any investment or subsidy risk to the government. However, the market perception is different because such projects are perceived as having high underlying operational risk and also require significant capital, much higher than the EPC margin generated.” said Singh. “As a result, BoT toll projects have historically seen relatively lower investor interest compared to HAM or TOT projects, and this trend may continue in the future.”