IRB Infra and IRB Infrastructure Trust report 29% jump in April toll collections at ₹503 crore
Upstox
2 min read • Updated: May 7, 2024, 12:53 PM
Summary
IRB MP Expressway had the highest collection at ₹140.7 crore followed by IRB Ahmedabad Vadodara Super Express Tollway at ₹59.2 crore. CG Tollway recorded a collection of ₹29.7 crore while Udaipur Tollway registered ₹25.5 crore in collections during the month. Meanwhile, Palsit Dankuni Tollway recorded collections of ₹14.2 crore during the month.
IRB Infra and IRB Infrastructure Trust have reported an aggregate toll collection of ₹503 crore during April 2024, registering a growth of 29% year-on-year (YoY).
IRB Infrastructure Developers is an integrated multi-national transport infrastructure developer in the roads and highways segment. It has an asset base of approximately ₹80,000 crore in 12 states across the parent company and two infrastructure investment trusts (InvITs).
IRB MP Expressway had the highest collection at ₹140.7 crore followed by IRB Ahmedabad Vadodara Super Express Tollway at ₹59.2 crore. CG Tollway recorded a collection of ₹29.7 crore while Udaipur Tollway registered ₹25.5 crore in collections during the month.
Meanwhile, Palsit Dankuni Tollway recorded collections of ₹14.2 crore during the month.
The company and its associate private InvIT had registered a toll revenue growth of 24% in FY24 over the previous year.
Amitabh Murarka, deputy CEO at IRB Infrastructure Developers said after witnessing 24% growth in toll collection in FY24 compared to the previous year, a 29% growth at the start of the new year looks promising. “Considering the GDP projections, the government’s focus on the infrastructure development for the nation, especially on the roads and highways segment and the abundant opportunities coming up in the sector thereof, which the company looks at, we sincerely feel that the toll collection momentum will have an upward trend in FY25,” he said.
IRB Infra has a track record in constructing, tolling, operating, and maintaining around 18,500 lane kilometres pan India in 25 years; of which 15,500 lane kilometres are under operation at present. The group commands a market share of around 38% in the toll-operate-transfer (TOT) space. It also comprises a 12% share of India’s north-south highway connectivity.
Shares of the company have risen over 58% since the beginning of the year. The stock has gained nearly 136% in the last one year.