Buy IRB Infra; target of Rs 320: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan`s research report on IRB Infrastructure Developers“IRB Infrastructure Developers (IRB) has won the bid for Rs1,687-crore Yashwantrao Chavan Expressway and the Mumbai-Pune section of NH-4 along with the execution of additional works on the Mumbai-Pune section of NH-4. The company continues its order winning streak with Rs5,500 crore worth of projects bagged during Q1FY2015. We believe the recent order wins are expected to improve the visibility its EPC revenues over the next two to three years. The company laid the foundation of its Kaithal-Rajasthan project on August 19, 2014 as well as achieved the financial closure of the Solapur-Yedishi project on September 1, 2014. The timely achievement of the financial closure and initiation of the construction of the recently bagged projects instill confidence with regard the company’s improving operating performance over the next two to three years.” “We are positive on the road construction sector in view of the recent steps taken by the road ministry and the NHAI to address the key structural bottlenecks in the sector as these are expected to improve the execution and project award activity for the industry. In view of the progress witnessed in the company’s project recently, we have upgraded our earnings multiple for its EPC business after factoring in the improving visibility of the EPC revenues. Consequently, we have revised our price target upwards to Rs320. We maintain Buy rating on the stock,” says Sharekhan research report. 

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