 "IRB Infrastructure August toll collection zooms 20% YoY; share price gains")
IRB Infrastructure Developers shares in focus: Shares of IRB Infrastructure Developers Ltd (IRB) rose as much as 2.79 per cent to hit an intraday high of Rs 63.60 per share on Tuesday, September 10, 2024.
The uptick in IRB Infrastructure Developers came on the back of strong toll revenue collection for August 2024.
In an exchange filing, the company said, “Continuing with the robust toll collection growth in the second month of the Q2FY25, i.e., August 2024, the IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have reported collective Y-o-Y toll revenue growth of 20 per cent in the month under review, i.e., Rs 503 crore in August 2024 as against Rs 417 crore in August 2023.”
The August 2024 toll revenue grew over 20 per cent year-on-year to Rs 503 crore, from Rs 417 crore in August 2023.
"Despite the extreme weather conditions experienced across some of our projects this season, we have observed robust Y-o-Y growth in toll collection within our asset portfolio. We expect this positive momentum to continue and strengthen with the approaching festive season in the coming months,” said Amitabh Murarka, deputy chief executive officer of IRB Infrastructure Developers Limited.
IRB Infrastructure Developers Ltd (IRB) is an Integrated Multi-National Transport Infrastructure Developer, specialising in the Roads & Highways segment. With a substantial asset base of approximately Rs 80,000 crore across the parent company and two InvITs, IRB has established a dominant presence in the infrastructure sector. Over its 25-year tenure in India, IRB has excelled in constructing, tolling, operating, and maintaining approximately 18,500 lane Kms of roads nationwide, currently managing 15,500 lane Kms.
The company holds a notable 38 per cent market share in the TOT (Toll-Operate-Transfer) space and contributes considerably to India’s North-South highway connectivity with a 12 per cent share.
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Having successfully delivered 13 Concessions to nodal agencies, IRB Group’s project portfolio now encompasses 26 road projects, comprising 18 BOT (Build-Operate-Transfer), 4 TOT, and 4 HAM (Hybrid Annuity Model) projects, underscoring its leadership in infrastructure development and management in India.
At 9:57 AM, shares of the company were trading 1.44 per cent higher at Rs 69.04 per share. In comparison, BSE Sensex was trading 0.03 per cent lower at 81,531.25 levels.