IRB Sees 21 Per Cent Toll Revenue Rise In March 2026

14 Apr 2026 CW Team

Among the top contributors, IRB MP Expressway led with Rs 1,651 mn, followed by IRB Ahmedabad Vadodara Super Express Tollway at Rs 810 mn and IRB Golconda Expressway at Rs 801 mn. Newly commissioned assets also bolstered collections, with IRB Harihara Corridors contributing Rs 536 mn after tolling commenced on January 23, 2026. Assets acquired in November 2025, including Kaithal and Kishangarh Gulabpura tollways, continued to strengthen overall monthly receipts. The mix of mature corridors and recently added stretches produced a balanced uplift across the network.

Deputy CEO Amitabh Murarka indicated that the monthly growth was supported by recently commissioned assets, including a TOT project in Odisha, and that upcoming concessions such as the Ganga Expressway were expected to further accelerate revenue. He also noted that tariff revisions across existing assets provided an additional lever supporting near-term performance. Management emphasised ongoing focus on traffic management and maintenance to preserve service levels while realising revenue gains.

For the financial year 2026, the IRB Group reported total toll revenue of Rs 83.23 bn, representing roughly ten per cent of India's total toll collections of Rs 829 bn. The company's diversified portfolio of operational highways and continued expansion through new concessions underpinned its dominant position in the sector and supported expectations of continued growth into FY27. Analysts expect the platform of concessions to provide resilient cash flows as new projects stabilise traffic patterns.

IRB Infrastructure Developers Ltd reported toll revenue of Rs 7,835 mn in March 2026, representing a 21 per cent year-on-year increase from Rs 6,489 mn in March 2025, according to a stock exchange filing on April 9, 2026. The rise reflected stronger traffic momentum across key corridors and the impact of newly operational toll-generating assets. The company attributed the improvement to a combination of higher vehicle volumes and operational measures to optimise tolling efficiency. Among the top contributors, IRB MP Expressway led with Rs 1,651 mn, followed by IRB Ahmedabad Vadodara Super Express Tollway at Rs 810 mn and IRB Golconda Expressway at Rs 801 mn. Newly commissioned assets also bolstered collections, with IRB Harihara Corridors contributing Rs 536 mn after tolling commenced on January 23, 2026. Assets acquired in November 2025, including Kaithal and Kishangarh Gulabpura tollways, continued to strengthen overall monthly receipts. The mix of mature corridors and recently added stretches produced a balanced uplift across the network. Deputy CEO Amitabh Murarka indicated that the monthly growth was supported by recently commissioned assets, including a TOT project in Odisha, and that upcoming concessions such as the Ganga Expressway were expected to further accelerate revenue. He also noted that tariff revisions across existing assets provided an additional lever supporting near-term performance. Management emphasised ongoing focus on traffic management and maintenance to preserve service levels while realising revenue gains. For the financial year 2026, the IRB Group reported total toll revenue of Rs 83.23 bn, representing roughly ten per cent of India's total toll collections of Rs 829 bn. The company's diversified portfolio of operational highways and continued expansion through new concessions underpinned its dominant position in the sector and supported expectations of continued growth into FY27. Analysts expect the platform of concessions to provide resilient cash flows as new projects stabilise traffic patterns.

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