IRB Infrastructure Developers gains on execution of agreement for NHAI project

IRB Infrastructure Developers Limited and its associate IRB Infrastructure Trust reported a collective toll collection growth of 26% in the month of December 2023.

Shares of IRB Infrastructure gain 0.8 percent at open on January 15 after the highway infrastructure company announced on January 12 that it will executes concession agreements for TOT-13 project with NHAI. At 9:20 am, the stock was trading at Rs 46.45.

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Post market hours on January 12, IRB Infrastructure Developers in a filing has said that IRB Infrastructure Trust has incorporated IRB Kota Tollway  (Project SPV for tolling, operation, maintenance and transfer of Kota bypass and cable stay bridge on NH-76 in Rajasthan) and IRB Gwalior Tollway (Project SPV for tolling, operation, maintenance and transfer of Gwalior-Jhansi section of NH-75 in Madhya Pradesh and Uttar Pradesh).

In the filing, the company said that it has executed concession agreements with National Highways Authority of India (NHAI) for the said toll operate and transfer (TOT)-13 project.

Also read: IRB Infra Consolidated September 2023 Net Sales at Rs 1,745.00 crore, up 29.94% Y-o-Y

On January 8, IRB Infrastructure Developers Limited and its associate

IRB Infrastructure Trust reported a collective toll collection growth of 26 percent in the month of December 2023 over the corresponding fiscal. The toll collection for December 2023 reported was Rs.4,880 million, against Rs 3,880 million in December 2022.