Shares of IRB Infrastructure Developers surged four percent in the morning session on December 10, after reporting a jump in toll collections for the month of November.
IRB Infra and IRB Infrastructure Trust (Private InvIT) collectively reported strong on-year growth of 23 percent in toll collection for November 2024. The aggregate toll collection for the month under review is Rs 536 crore, as against Rs 437 crore in the corresponding month last year.
At 10 am, shares of IRB Infra were trading at Rs 59.88, higher by 0.81 percent on the NSE compared to the previous session's closing price.
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Amitabh Murarka, the deputy CEO, said, “The monthly toll collection has demonstrated impressive growth. Looking ahead, we anticipate this upward trajectory to continue, driven by the year-end festive and holiday season, which typically boosts travel and economic activity. With improving economic indicators, we remain optimistic that strong toll collections will sustain in the coming month."
As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approximately Rs 80,000 crore in 12 States across the parent company and two InvITs.
The firm has strong track record of constructing, tolling, operating, and maintaining around
18,500 lane kilometers across India in its 25 year; of which 15,500 Lane kilometers are under operations at present.
The group commands a market share of around 34 percent in the Toll Operate Transfer (TOT) space. It also comprises 12 percent share in India’s North-South highway connectivity.
Over the past year, shares of IRB Infra have gained around 47 percent, significantly outperforming the benchmark Nifty 50 index, which saw gains of 17.5 percent during the same time.
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