Wed Oct 09 05:31:17 UTC 2024: ## IRB Infrastructure Developers Shares Surge on Strong Toll Collection
**Mumbai, October 9, 2024:** Shares of IRB Infrastructure Developers, India’s largest integrated private toll roads and highways infrastructure developer, climbed over 2% in early trade today after the company announced robust toll collection figures for September 2024.
The company reported a collective year-on-year (Y-o-Y) toll revenue growth of 19% in September, reaching Rs 502 crore compared to Rs 421 crore in the same month last year. This strong performance comes despite heavy rainfall in certain regions, demonstrating the resilience of the company’s business.
“Our toll revenue has shown remarkable resilience, achieving a 19% Y-o-Y growth despite severe rains in some regions,” said Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers. “As we look ahead to the festive season, we are optimistic about sustaining the growth, driven by increased travel and economic activities.”
IRB Infrastructure Developers currently boasts an asset base of approximately Rs 80,000 crore across 12 states through its parent company and two Infrastructure Investment Trusts (InvITs). The group holds a dominant market share of around 38% in the Toll-Operate-Transfer (TOT) space and contributes 12% to India’s North-South highway connectivity.
The company’s project portfolio, including private and public InvITs, now comprises 26 road projects, including 18 Build-Operate-Transfer (BOT), 4 TOT, and 4 Hybrid Annuity Model (HAM) projects.
A board meeting is scheduled for today to consider and approve a proposal for raising debt, potentially through issuance of foreign currency denominated notes, other debt securities, or term loans.
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