Virendra Mhaiskar has made IRB India's largest and most profitable toll-road operator. In a sector that has most companies reeling under debt, he seems to be the rare animal with enough cash on hand
IRB Infrastructure Developers Ltd., a leading Highway Infrastructure Developer, has completed the process of acquisition of 74% holding of MVR Infrastructure & Tollways Private Ltd and thereby MVR Infra has now become a subsidiary of IRB from October 2012.
According to Sanjeev Mantri of ICICI Bank, the time is right to launch SME exchange in India.
IRB Infrastructure Developers' consolidated net profit for the second quarter rose better-than-expected 11% from a year ago to Rs 110 crore.
On October 17, 2011 Ideal Toll and Infrastructure Private Limited sold 5,527,499 shares of IRB Infrastructure Developers at Rs 171 on the BSE.