Shares of IRB Infrastructure Developers rose close to 3 percent in opening trade on September 10 after the company reported a 20 percent on-year spike in toll collections in August.
At 09.27 am, shares of IRB Infrastructure Developers were trading at Rs 63..04 on the NSE.
Extending the streak of robust toll collections to the second month in Q2 of FY25, toll revenue expanded to Rs 503 crore in August as against Rs 417 crore in the year ago period.
"Despite the extreme weather conditions experienced across some of our projects this season, we have observed robust on year growth in toll collection within our asset portfolio. We expect this positive momentum to continue and strengthen with the approaching festive season in the coming months," Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers said in an exchange filing.
The company generated maximum toll revenue from two of its wholly-owned subsidiaries--IRB MP Expressway and IRB Ahmedabad Vadodara Super Express Tollway. The two subsidiaries collected revenue worth a total of Rs 199.6 crore in August.
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IRB Infrastructure Developers is the largest integrated private toll roads and highways infrastructure developer in India with an asset base of approximately Rs 80,000 crore in 12 states across the parent company and two InvITs ( Infrastructure Investment Trusts).
The group commands a market share of around 38 percent in the TOT (Toll-Operate-Transfer) space and makes up a 12 percent share in India’s North-South highway connectivity.
IRB Group’s project portfolio (including private and public InvIT) has now 26 road projects
that include 18 BOT (Build-Operate-Transfer), 4 TOT, and 4 HAM (Hybrid Annuity Model) projects.
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