November saw some moderation in competitive bidding for the National Highways Authority of India's (NHAI) road projects. NHAI has awarded nine projects in two weeks where the number of bidders was relatively less as compared to last two-three quarters.
Though the number of bidders has reduced, the bids were aggressive compared to NHAI's expectation. In majority of the projects, NHAI ended up getting a premium when it was expecting that it might have to give a grant. And this trend is still continuing.
Less bidders for NHAI projects
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