Bharat Road Network Arm Receives One-Time Settlement from NHAI; Shares Up 4%

MT Newswires Live

2025/07/09

Bharat Road Network (NSE:BRNL, BOM:540700) said its subsidiary Orissa Steel Expressway has received 3.84 billion Indian rupees as a one-time settlement from National Highways Authority of India, according to a Wednesday filing to the Indian stock exchanges.

The full and final settlement is for the disputes arising out of the concession agreement dated July 6, 2010, executed between NHAI and Orissa Steel.

The company holds 59.38% of shareholding in Orissa Steel Expressway, that plans to use its funds to towards priority liabilities, legal and operational obligations.

The company's shares were up over 4% in recent trade.

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