IRB Infrastructure Developers Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

Sequentially, the company's toll collection increased 4.09% as against Rs 462 crore recorded in February 2024.

The joint ventures entities under IRB Infrastructure Trust reported gross toll collection of Rs 269.9 crore (up 39.77% YoY) for the period under review.

Amitabh Murarka, deputy CEO said, “We are ending Financial Year 2024 with a sharp Y-o-Y growth of 30% in toll collection during March 24. With addition of two new revenue generating TOT assets in the portfolio, we foresee robust FY25.”

IRB Infrastructure Developers (IRB) is one of the leading infrastructure development companies in India in road and highway sector, with presence in Build-Operate-Transfer (BOT) and HAM space. The company undertakes development of various infrastructure projects in the road sector through several Special Purpose Vehicles. IRB's work spans from building of roads, highways, bridges, and tunnels, recently the company diversified its business into real estate development sector also.

The company’s consolidated net profit jumped 32.58% to Rs 32.58 crore on 30.01% surge in net sales to Rs 1,968.54 crore in Q3 FY24 over Q3 FY23.

The scrip shed 0.30% to trade at Rs 69.78 on the BSE.

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IRB Infrastructure Developers has cancelled the board meeting which was scheduled to be held on 4 April 2024.

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IRB Infrastructure Developers will hold a meeting of the Board of Directors of the Company on 4 April 2024.

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Cintra, a subsidiary of Ferrovial, has entered into definitive documents to acquire 24% stake in IRB Infrastructure Trust as well as 24% stake in MMK Toll Road (MMK) which is the Investment Manager of the Trust. Completion of the acquisition is subject to fulfilment of conditions precedent, including receipt of requisite regulatory and third-party approvals.

With an objective of harnessing the potential of India's infrastructure landscape, the Trust has distinct ability to leverage synergies among the leading Indian transport infrastructure developer, a global financial investor, and a global strategic partner to optimize project planning and selection processes, ensuring maximum impact and value creation.

IRB, with a diverse variety of investors, is uniquely positioned to expand its asset base, already one of the key players in the sector, and drive sustainable growth and development across the nation. The company will also benefit from the growing EPC and O&M order book as the sole project manager to the Trust.

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