New Delhi, July 2 -- Road project awards are unlikely to recover meaningfully in FY27 as there has been no increase in the National Highways Authority of India (NHAI) capital expenditure (capex) budget, according to a report by Nuvama.

The report said road awards have remained weak over the past few years, with NHAI missing its FY26 target of awarding around 4,500 km of highway projects.

Nuvama attributed the slowdown to delays in project approvals and appraisal, along with limited private sector interest in Build-Operate-Transfer (BOT) projects.

"Delays in project appraisal and approval along with reluctance on part of the private sector to take up BOT projects had caused the NHAI to miss its full-year awarding target of ~4,500km for ...