09 Oct , 2024 By : Debdeep Gupta
IRB Infrastructure Developers shares rose more than 2 percent in the early trade on October 9 after the company posted robust toll collection in the third month of the Q2FY25 (September 2024).
At 09:22 am, IRB Infrastructure Developers was quoting Rs 60.38, up Rs 1.49, or 2.53 percent, on the BSE.
The company and IRB Infrastructure Trust have reported collective Y-o-Y toll revenue growth of 19 percent in September at Rs 502 crore as against Rs 421 crore in September 2023.
"Our toll revenue has demonstrated remarkable resilience, achieving a 19 percent Y-o-Y growth despite severe rains in some of the regions. As we look ahead to the festive season, we are optimistic about sustaining the growth, driven by increased travel and economic activities,” said Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers.
A meeting of the board of directors of the company is scheduled to be held on October 9, 2024, to, consider and approve the proposal of raising debt by the company, including by way of issuance of foreign currency-denominated notes or other debt securities (either in India or Overseas) or by way of borrowings in the form of term loans, in one or more tranches.
IRB Infrastructure Developers is the largest integrated private toll roads and highways infrastructure developer in India with an asset base of approximately Rs 80,000 crore in 12 states across the parent company and two InvITs ( Infrastructure Investment Trusts).
The group commands a market share of around 38 percent in the TOT (Toll-Operate-Transfer) space and makes up a 12 percent share in India’s North-South highway connectivity.
IRB Group’s project portfolio (including private and public InvIT) has now 26 road projects that include 18 BOT (Build-Operate-Transfer), 4 TOT, and 4 HAM (Hybrid Annuity Model) projects.
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