IRB Infrastructure Developers Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

IRB Infrastructure Trust received the Letter of Award from the National Highways Authority of India (NHAI) for the TOT 17 bundle. The award covers 366 km across the Lucknow?Ayodhya?Gorakhpur corridor on NH 27 and the Lucknow?Sultanpur stretch on NH 731. The Trust will pay an upfront concession fee of Rs 9,270 crore for a 20 year revenue linked contract.

The TOT 17 project lifts the Trust?s asset base to about Rs 65,000 crore. The IRB Group?s overall portfolio will also cross Rs 90,000 crore. Management said this win strengthens IRB?s position in the highway monetisation space. Its market share in TOT projects now rises to 42%. The project adds long term visibility to toll revenues and cash flows. It also expands the group?s O&M order book by around 20%.

IRB will act as the Project Manager for this corridor. The company noted that this award brings the platform closer to the Rs 1 lakh crore milestone.

IRB is India's first integrated multi-national transport infrastructure developer in roads & highways segment. The company has strong track record of constructing, tolling, operating, and maintaining around 19,000 Lane Kms pan India in its existence of more than 25 years in India.

It reported a 41% surge in consolidated net profit to Rs 140.82 crore on a 10.42% increase in total revenue from operations to Rs 1,751.02 crore in Q2 FY26 over Q2 FY25.

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IRB Infrastructure Developers announced that IRB Infrastructure Trust, associate of the company has received a Letter of Award from National Highways Authority of India (NHAI) for the project of involving Tolling, Operation, Maintenance and Transfer of Lucknow-Ayodhya Section of NH-28 (New NH-27) from km 15.400 to km 137.970, Ayodhya-Gorakhpur Section (Km. 136.759 to Km. 252.860) stretch of NH-28 (New NH-27) and Lucknow-Sultanpur Section of NH-731 from Km. 90.370 to km. 217.795 in the state of Uttar Pradesh (TOT-17).

Key highlights of the project:

IRB Infrastructure Developers will be the Project Manager for the Project.

The Trust to pay upfront Bid Concession Fee of Rs. 9,270 crore to NHAI for revenue-linked Concession Period of 20 years.

Trust's asset portfolio will increase by ~20% to ~Rs 65,000 Crore with addition of this project with a long-term revenue & cashflow generation visibility.

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Net profit of IRB Infrastructure Developers rose 41.00% to Rs 140.82 crore in the quarter ended September 2025 as against Rs 99.87 crore during the previous quarter ended September 2024. Sales rose 10.42% to Rs 1751.02 crore in the quarter ended September 2025 as against Rs 1585.84 crore during the previous quarter ended September 2024.

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Profit before tax (PBT) stood at Rs 260.81 crore in Q2 FY26, up 42.22% compared to the Rs 183.39 crore reported in Q2 FY25.

EBITDA in Q2 FY26 was at Rs 974 crore, registering a growth of 4% from Rs 933 crore posted in Q2 FY25.

On a half-year basis, the company?s net profit surged 43.14% to Rs 343.31 crore on an 11.96% rise in total revenue from operations to Rs 384.99 crore in H1 FY26 over H1 FY25.

Virendra D. Mhaiskar, chairman & MD, IRB Infrastructure Developers, said, ?The first half of the year, particularly Q2, continued to demonstrate strong momentum in toll revenue growth, despite a severe and extended monsoon period. We have also successfully completed the sale of three assets, in line with our B.E.S.T. (Bid, Execute, Stabilize, Transfer) strategy of efficient asset churn and sustainable growth without any dilution.

This has enabled us to unlock approximately Rs 5,000 crore of equity in the Private InvIT, positioning us to pursue further opportunities of around Rs 15,000 crore in the sector. These developments keep us firmly on track to achieve an asset base of Rs 1.4 trillion over the next three years.? He added, ?This robust performance strengthens our confidence that growth will further accelerate in the coming quarters, supported by the ongoing pace of consolidation.?

Meanwhile, the board declared a second interim dividend of Rs 0.07 per equity share for FY26. The record date is set as 18 November 2025, and the dividend will be paid or dispatched to eligible shareholders on or before December 2025.

IRB Infrastructure Developers (IRB) is one of the leading infrastructure development companies in India in the road and highway sector, with a 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 the building of roads, highways, bridges, and tunnels; recently, the company diversified its business into the real estate development sector also.

Shares of IRB Infrastructure Developers shed 0.23% to Rs 43.15 on the BSE.

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