India-based Tata Realty and Infrastructure (TRIL), real estate unit of the $100bn Tata Group, is holding negotiations with developers to acquire three completed toll road projects for a total cost of Rs6bn ($108m).

Several road developers have approached TRIL to sell their stakes in projects.

With the acquisition of completed projects, the company is planning to build a portfolio and eliminate any risks involved in construction.

This move comes as several road developers, such as Reliance Infrastructure, Madhucon Projects and GMR Infrastructure, are planning to sell stakes in toll road projects.

With lenders being wary of investing in projects that take longer to complete due to several problems such as delays in land acquisition, developers are selling stakes in order to raise capital to complete existing ventures and take up fresh ones.

"TRIL has identified and shortlisted some of the projects that have quality construction and growth prospects in traffic."

TRIL has identified and shortlisted some of the projects that have quality construction and growth prospects in traffic.

Due to the lack of enough public-private partnership projects, the company has been able to secure only one toll road project, which was awarded by National Highways Authority of India.

TRIL, through its wholly owned subsidiary TRIL Roads and Italy-based toll motorway operator Atlantia, is constructing the 110km Pune-Solapur highway.

TRIL has a concession of two decades for the four-lane highway project, which will include safety features and high-end facilities such as electronic tolling and wayside amenities.

The stretch, estimated to be worth Rs13.7bn ($247m), will be open to traffic in the next three months.