IRB Infra and IRB Infrastructure Trust report toll collection of ₹481 crore in March 2024, recording a 30% y-o-y growth
Upstox
2 min read • Updated: April 9, 2024, 7:27 PM
Summary
IRB Infrastructure Developers and its associate IRB Infrastructure Trust have reported an aggregate toll collection of ₹480.9 crore during March 2024, against ₹370 crore in March 2023. The IRB MP Expressway Pvt Limited, which operates the Mumbai Pune Expressway and Old Mumbai Pune Highway NH4, registered the highest growth among all other projects at 22% for the month of March 2024.
IRB Infrastructure Developers and its associate IRB Infrastructure Trust have registered an aggregate year-over-year (y-o-y) toll revenue growth of 30% in March 2024, the company said in an exchange filing.
Both the entities have reported an aggregate toll collection of ₹480.9 crore during March 2024, against ₹370 crore in March 2023. The assets under IRB Infrastructure Trust have registered toll collection rise of around 40% y-o-y, the release stated.
The IRB MP Expressway Pvt Limited, which operates the Mumbai Pune Expressway and Old Mumbai Pune Highway NH4, registered the highest growth among all other projects at 22% for the month of March 2024 as compared to the same period in previous fiscal. It collected ₹148.20 crore in toll collections during the month.
The second highest growth was recorded by Udaipur Tollway Limited that registered a toll collection increase by 19.37% to ₹26.5 crore.
Meanwhile, significant drop in toll collection was seen by the Yedeshi Aurangabad Tollway Limited. Collections fell by 19% in March 2024 on a year-on-year basis to ₹18.8 crore.
IRB Infrastructure Developers is an integrated multi-national transport infrastructure developer in roads and highways segment. IRB has an asset base of approximately ₹80,000 crore in 12 states across the parent company and two infrastructure investment trusts (InvITs).
Amitabh Murarka, deputy CEO of IRB Infrastructure Developers Limited said that the company is ending the financial year 2024 with a sharp y-o-y growth of 30% in toll collection during March 2024. “With addition of two new revenue generating toll operate transfer (TOT) assets in the portfolio, we foresee robust FY25,” he added.
Shares of IRB Infrastructure Developers closed 0.57% on Tuesday. The stock has gained over 68% since the beginning of the year and has risen over 171% in the last one year. Meanwhile, the IRB InvIT Fund has lost 1.74% since the beginning of the year.