IRB Infrastructure Developers Surge 4% on Robust May Toll Collection

9 Jun 2023 , 10:56 AM

Shares of IRB Infrastructure Developers experienced a surge of 4% in morning trade on June 9, following the company’s impressive year-on-year (YoY) growth in toll collection.

In May 2023, IRB Infrastructure Developers recorded toll collections of Rs.411 crore, marking a substantial increase from Rs.343 crore in the same period last year.

Virendra D Mhaiskar, the Chairman and Managing Director of IRB Infrastructure Developers, expressed optimism about the company’s performance, stating that the growth momentum seen in April continued in May 2023. This reaffirms the consistency and robustness of growth across all the highway corridors managed by the company in India.

As per the information provided by news sources, as of March 2023, IRB Infrastructure Developers’ order book stood at Rs.20,600 crore, comprising Rs.8,900 crore in Engineering, Procurement, and Construction (EPC) projects and Rs.11,700 crore in Build-Operate-Transfer/Toll-Operate-Transfer (BOT/TOT) projects’ operation and maintenance.

At the time of writing, shares of IRB Infrastructure Developers were trading at Rs.28.58, a 2.14% rise from the previous day’s close.

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