IRB Infrastructure and IRB Infrastructure Trust toll collections jump 30% in May, management expresses optimism

The toll collection from the company’s Mumbai Pune Expressway and Old Mumbai Pune Highway NH4 for May 2024 was the highest among all entities at ₹152.6 crore. This was followed by the Ahmedabad Vadodara Expressway NE1 and Highway NH48 and the Hyderabad Outer Ring Road as they contributed ₹64.5 crore and ₹62.7 crore, respectively.

The Lalitpur Lakhnadon NH44 – TOT 12 project contributed ₹35.5 crore while the Chittorgarh to Gulabpura NH79 project contributed ₹31.4 crore. The Udaipur to Shamlaji NH48, Hapur to Moradabad NH 9, and the Agra to Etawah NH19 projects saw toll collections of over ₹20 crore each.

Kishangarh to Gulabpura NH79A and NH79, Yedeshi to Aurangabad NH211, Karwar to Kundapura NH66, and the Samakhiyali to Santalpur NH27 projects witnessed toll collections of over ₹10 crore each in May.

In May 2024, the Palsit to Dankuni NH19, Yedeshi to Aurangabad NH211, Kaithal to Rajasthan Border NH152/65, Kishangarh to Gulabpura NH79A & NH79, and the Solapur to Yedeshi NH211 projects saw a decline in their toll collections compared to the corresponding period last year.

Amitabh Murarka, chief executive officer of IRB Infrastructure said the momentum in toll collections in May 2024 reinforces the consistency and robustness of growth across all highway assets the firm manages.

“With the annual toll tariff revision now effective from June 3, 2024, and the strong GDP numbers, we expect this positive trend in toll collections to continue in the upcoming quarters,” he said.

Shares of IRB Infrastructure Developers have risen by nearly 72% since the beginning of the year. The stock has gained nearly 152% in the last one year