IRB Infrastructure Developers

Trees are your best antiques said Alexander Smith, We have much to
 learn from the forbearance of a tree. The way it rises to the skies but
 builds its roots beneath the ground to grow stronger. The manner in
 which it spreads its branches all around to provide shade and Oxygen
 giving leaves but stays rooted to the place it was born in. A tree is
 life, hope and the promise of abundance. Much like IRB and the roads we
 build.
 
 While everyone was branching out and making.hay while the trends were
 shining, we worked to build up our capabilities - our roots - in
 handling BOT (Build, Operate, Transfer) projects. The result of working
 on our roots has borne us fruits today. We currently have one of the
 best toll-road projects in the country in our portfolio and have gone
 from building roads to highways to bridges to tunnels and much more.
 Over 1,440 km of road length has been built or operated and managed by
 us, making us, perhaps the only company that handles construction,
 operation, maintenance and toll collection almost on its own. As the
 tree sustains itself in any condition, so have we.
 
 The last three decades have been instrumental in shaping our future.
 Having adopted the latest technology, built expertise in handling
 large-scale complex projects, and grown a strong in-house equipment
 bank and a host of successful measures. Each project has borne
 testimony of our impeccable track record of completing projects ahead
 of schedule, without overrunning budgets. Seeds that grew into strong
 fruit and built more trees as we reached the skies.
 
 Organisations such as the NHAI and MSRDC have immense faith in our
 processes and the BOT model has become a norm and set new standards in
 efficiency. The Mumbai-Pune Highway is one of the busiest corridors in
 the country with a vehicle passing every 3 seconds, thus making it a
 mammoth operational and maintenance challenge. Being the first to
 implement the BOT process with the Thane-Bhiwandi Bypass Project and
 thereafter in the Mumbai-Pune 6 lane Expressway, we have planted
 ourselves firmly as an integral part of Indias progress.
 
 Our in-house expertise in operation and maintenance stretches from
 roads, highways to tunnels, and now, in.real estate. Our recent
 achievement being the laying of the foundation stone of the
 Dahisar-Surat stretch of the NH-8, to be developed by the IRB-Deutsche
 Bank Consortium. The project links the industrial cities of Surat, Vapi
 and Mumbai; supporting commerce between the cities and easing the road
 to interaction,- growth and promoting development along its path,
 eventually fostering our nations progress, km-by-km.
 
 Our most recent achievement being emerging as the Lowest bidder in Four
 projects of NHAI on grant basis viz. Goa / Karnataka Border to Panaji -
 Goa Section of NH-4A, Pathankot to Amritsar Section of NH-15, Jaipur to
 Deoli Section NH-12 and Talegoan to Amravati Section of NH-6. We are
 expanding the horizons of our business by foraying into Developement of
 a Greenfield Airport in Sindhudurg District, Maharashtra. With these
 projects, the Order book will almost double from Rs. 5,900 Crore as on
 March 31, 2009 to Rs. 10,350 Crore.
 
 We also recently won five nominations and won the Infrastructure
 Excellence Award in Highways & Flyovers - yet another feather in the
 cap.  I would like to thank all our share holders who have shown
 confidence in us at all times and form the strength of our roots.
 
 The markets are changing. In these times, while challenges are many and
 there are many milestones to achieve, I quote He who plants a tree,
 plants a hope. I believe the same of the roads we built.
 
                                                 Virendra D Mhaiskar
                                            Chairman & Managing Director