IRB Infra shares zoom on 26% growth in December 2023 toll collection

IRB Infra shares zoom: Shares of IRB Infrastructure Developers climbed over 12 per cent to hit an intraday high of Rs 47.24 per share after the company reported 26 per cent annual growth in the aggregate December 2023 toll collection.

The toll collection for December 2023 stood at Rs 488 crore, as against the toll collection of Rs 388 crore in December 2022. 

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Amitabh Murarka, Deputy CEO, IRB Infra said, “Much pleased to see the continued growth momentum across all our highways assets. Since, the second half of the FY is always better from Toll Collection perspective, we expect this growth to continue for the remaining quarter of FY24 too, especially after Samakhiyali Santalpur BOT project in the State of Gujarat which started toll collection from December 28, 2023, and will have full month toll revenue in remaining months of FY24.” 

The market capitalisation of the company is Rs 28,310.8 crore, according to BSE. Notably, the shares have jumped 52 per cent in 2023, outperforming the benchmark indices, which surged around 21 per cent during the same period.

IRB Infrastructure Developers Ltd is a Multi-National Transport Infrastructure Developer specialising in the Roads & Highways sector. IRB boasts an impressive asset base exceeding Rs 77,000 crore across 12 states through its parent company and two Infrastructure Investment Trusts (InvITs). 

Notably, IRB holds a notable 20 per cent share in the country's Golden Quadrilateral project, marking the largest contribution by any private infrastructure developer in the country.

In the Toll-Operate-Transfer (TOT) domain, the group commands a market share of around 38 per cent. 

As of 1:39 pm, shares of IRB Infra were trading a little over 11 per cent higher at Rs 46.79 per share.