IRB Infra surges 7%; hits new high on healthy toll collection in November

The company and the IRB Infrastructure Trust (Private InvIT), has collectively recorded 20 per cent year-on-year rise in toll collection at Rs 437 crore in the month of November 2023.

Shares of IRB Infrastructure hit a new high of Rs 40.95, as they surged 7 per cent on the BSE in Friday’s intra-day trade backed by heavy volumes after the company and the IRB Infrastructure Trust (Private InvIT), collectively recorded 20 per cent year-on-year rise in toll collection at Rs 437 crore in the month of November 2023.

India’s leading and the largest integrated multi-national transport infrastructure developer in highways sector had recorded the toll collection of Rs 366 crore in the month of November 2022.

Share price of IRB Infra surpassed its previous high of Rs 39.50 touched on November 24, 2023. The counter has seen huge trading volumes with a combined 35.03 million equity shares changing hands on the NSE and BSE till 09:37 AM.

IRB Infra’s management said the company witnessed a continued rise in toll collection, despite Diwali holidays, which briefly slowed down momentum of economic activities across the Nation for almost a week’s time.

Overall, it’s promising to see the persistent growth momentum gained in first eight months of FY24. The second half of the year is always better from Toll Collection perspective; accordingly, the management expects the growth momentum to continue, especially with Gujarat BOT commencing tolling soon.

As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 75,000 crore in 12 states across the parent company and two InvITs.

It has approx. 20 per cent share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT (toll operate transfer) space, the group commands a market share of around 42 per cent.