The projects have strong counter parties - NHAI for four projects and Ministry of Road Transport and Highways (MoRTH) and Madhya Pradesh Road Development Corporation (MPRDC) for one each, said a recent Crisil report. The toll road projects have a long tolling track record between 8 to 14 years, while the annuity projects have a track record of receiving 26 and 20 semi-annual annuities without any material deduction.
