IRB Infrastructure share rises over 4% as Nov toll collection jumps 23% YoY

IRB Infrastructure Developers share price: Shares of IRB Infrastructure Developers (IRB Infrastructure) rose as much as 4.36 per cent to hit an intraday high of Rs 61.98 per share on Tuesday, December 10, 2024. 

 

The uptick in IRB Infrastructure share price came on the back of strong toll revenue collection in November 2024. 

IRB Infrastructure Developers and the IRB Infrastructure Trust reported a year-on-year (Y-o-Y) rise of 22.6 per cent year-on-year (Y-o-Y) to Rs 535.9 crore in November 2024, from Rs 437 crore in November 2023.

 

In an exchange filing, the company said, “IRB Infrastructure Developers Ltd and IRB Infrastructure Trust (Private InvIT) have collectively reported strong Y-o-Y growth of 23 per cent in toll collection for November 2024. The aggregate toll collection for the month under review is Rs 5,359 million (Rs 536 crore), as against Rs 4,370 million (Rs 437 crore) in the corresponding month of FY24, i.e., November 2023. 

 

 

Amitabh Murarka, deputy chief executive officer of IRB Infrastructure Developers Limited, said, “The monthly toll collection has demonstrated impressive growth. Looking ahead, we anticipate this upward trajectory to continue, driven by the year-end festive and holiday season, which typically boosts travel and economic activity. With improving economic indicators, we remain optimistic that strong toll collections will sustain in the coming month.”

 

About IRB Infrastructure

 

IRB Infrastructure Developers Ltd (IRB) is a leading Integrated Multi-National Transport Infrastructure Developer, specialising in the Roads & Highways sector. As the largest private toll roads and highways developer in India, IRB boasts an asset base of approximately Rs 80,000 crore across 12 states, encompassing both the parent company and two Infrastructure Investment Trusts (InvITs).

 

With over 25 years of experience, IRB Infrastructure has successfully constructed, tolled, operated, and maintained around 18,500 lane kilometres nationwide, with 15,500 lane kilometres currently under operation. The company holds a major market share of approximately 38 per cent in the Toll-Operate-Transfer (TOT) segment and a 12 per cent share in the North-South highway connectivity in India.

 

IRB Infrastructure has successfully completed 13 concessions, handing them over to the relevant nodal agencies. Currently, the IRB Group's project portfolio includes 26 road projects, comprising 18 Build-Operate-Transfer (BOT), 4 TOT, and 4 Hybrid Annuity Model (HAM) projects.

 

At 9:25 AM, IRB Infrastructure shares were trading 3.62 per cent higher at Rs 61.54 per share. In comparison, BSE Sensex was trading 0.03 per cent higher at 81,536.15 levels.