IRB Infrastructure Developers shares Feb update, says toll collection up 31% YoY; stock up 105% in 1 year

IRB Infrastructure Developers Ltd (IRB Infra) shares are in focus on Thursday morning after the aggregate toll collection of the integrated multi-national transport infrastructure developer in the highways sector jumped 31 per cent year-on-year (YoY) in February. The print included toll collection of associate IRB Infrastructure Trust.

The two IRB entities reported an aggregate toll collection of Rs 462.20 crore for the month under review compared with Rs 351.80 crore in February 2023.

IRB Infra shares are up 45.40 per cent in 2024 so far and are up 105 per cent in the last one year. The stock hit a record high of Rs 72 on February 5 this year.

CEO a IRB Infrastructure Developers, Amitabh Murarka, said: “The February 2024 toll collection is robust and very encouraging across all the assets. With a growth of YoY of 31 per cent in toll collection, the momentum is continued as seen at the start of new calendar year 2024. With high GDP growth projected for the country, we expect it to remain strong for coming months.”

IRB Infra is the largest integrated private toll roads and highways infrastructure developer in India, with an asset base of over Rs 77,000 crore in 12 states across the parent company and two InvITs. The Company is engaged in constructing, tolling, operating, and maintaining around 18,500 lane Kms pan India in its existence of 25 years in India.

It has approximately 20 per cent share in India’s Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT space, the group commands a market share of around 38 per cent.

IRB Group’s project portfolio (including Private and Public InvIT) has now 26 road projects that include 18 BOT, 4 TOT, and 4 HAM projects.