Shares In Focus: IRB Infrastructure Receives Rs 9,270 Crore NHAI Project

Highway construction firm IRB Infrastructure's shares will be in focus on Monday after IRB Infrastructure Trust, the Private InvIT sponsored by the company, received the Letter of Award (LoA) from National Highways Authority of India (NHAI) for the TOT-17 bundle.

The Rs 9,270 crore project entails 366 kms of the Lucknow-Ayodhya-Gorakhpur Corridor on NH-27 and part of Lucknow-Varanasi Corridor on NH-731, for a Revenue Linked Concession period of 20 Years.

Virendra D. Mhaiskar, Chairman & MD of IRB Infrastructure Developers Ltd, said, “With this award, the IRB platform now commands riveting 42% market share in the TOT space. The outcome underscores the growing confidence of long-term private capital in India’s national highway monetisation framework.”

“It strengthens our platform and enables us to move rapidly towards 1 lac crore asset portfolio mark,” he said.

After being awarded this project, IRB Group, said, "Toll revenue for the portfolio to increase substantially, group asset base to exceed Rs 90,000 crore, market share in TOT segment rises to 42%, and the  O&M Order Book is also expected to grow by approximately by 20%."

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About IRB Infrastructure Developers Ltd:

At present, IRB Infrastructure Developers Ltd (IRB) is an integrated multi-national transport infrastructure Developer in Roads & Highways segment.  As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 80,000 crore in 12 states across the parent company and two InvITs, excluding TOT 17.

The group has 14% share in India’s prestigious Golden Quadrilateral Project and 12% share in India’s North South highway connectivity.  After adding the TOT-17 project to IRB Group’s project portfolio (including Private and Public InvIT) will have 27 highway projects that include 18 BOT, 5 TOT, and 4 HAM projects.