IRB Infrastructure reports 21% toll revenue growth in October

11 Nov 2024 CW Team

IRB Infrastructure reported a 21% increase in toll revenue, reaching Rs 5.39 billion in October 2024, compared to Rs 4.47 billion during the same period last year. The company attributed the growth to a strong start in the third quarter of the fiscal year 2025, bolstered by the festive season and increased holiday travel. “After a strong first half in FY25, the third quarter has started on a solid footing, marked by robust toll collection growth in October 2024. We expect this positive trend to continue, driven by the festive season and increased holiday travel,” the company said in a statement. IRB's portfolio of 17 toll roads saw significant contributions from the IRB MP Expressway in Maharashtra and the IRB Ahmedabad Vadodara Super Express Tollway, generating Rs 1.42.6 billion and Rs 662 million, respectively. The CG Tollway (Chittorgarh to Gulabpura NH 79) contributed Rs 327 millionin toll revenue. IRB Infrastructure holds the distinction of being India's first integrated infrastructure player in the highways segment. As the country's largest integrated private toll roads and highways infrastructure developer, the company boasts an asset base exceeding Rs 800 billion, spread across 12 states. The company, with a 25-year history in India, holds a 34% market share in the Toll Operate Transfer (TOT) space. It currently operates 15,500 lane kilometers in India. “The company has a strong track record of constructing, tolling, operating, and maintaining around 18,500 lane kilometers across India. Of this, 15,500 lane kilometers are under operations at present,” the statement added. IRB also controls 12% of India’s North-South highway connectivity. “The group commands a market share of around 34% in the TOT space and holds a 12% share in India’s North-South highway connectivity.”

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