A leading private infrastructure giant in India’s toll roads sector witnessed remarkable growth, with toll collections surging 19% YoY in 2024. This performance reflects the company’s dominant position in the highway infrastructure segment, where it manages assets worth approximately Rs. 80,000 crores across 12 states through its parent company and two InvITs.
Share Price Movement
The share price of IRB Infrastructure Developers Limited fell by 3.5 percent to Rs. 53.63 per share on Friday, a decrease from its previous close of Rs. 55.51 per share. The market capitalisation now stands at approximately Rs. 32,876 crore as of January 10, 2025.
What’s Driving the Price?
IRB Infrastructure Developers, India’s largest integrated private toll roads and highway infrastructure developer, reported strong operational performance, with toll collection witnessing a robust 19% year-on-year growth for December 2024, increasing from Rs. 488 crore to Rs. 580 crore.
Financial Highlights
According to its recent filing, in the quarter ending September 2024, IRB Infrastructure Developers’s consolidated revenue from operations has decreased by 9.1 percent YOY from Rs. 1,745 crore in Q2 FY24 to Rs. 1,586 crore in Q2 FY25 and decreased by 14.4 percent QoQ from Rs. 1,853 crore in Q1 FY25.
The company’s consolidated net profit has increased by 4.16 percent YoY, from Rs. 96 crore in Q2 FY24 to Rs. 100 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has decreased by 28.57 percent QoQ from Rs. 140 crore.
The average price-to-earnings (P/E) ratio in the infrastructure industry is 25.44. which is less than IRB Infrastructure Developers’s current P/E ratio of 53.
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Market Outlook
India’s infrastructure sector is pivotal to achieving its ambitious goal of a $30-35 trillion economy by 2047. Challenges like urbanisation, energy demands, and financing sustainable living highlight the need for modern infrastructure. Recognising this, the government has prioritised reforms and investments, significantly increasing capital expenditures for key areas like highways.
The 2024-25 budget allocates Rs. 2.78 lakh crores, with Rs. 1.68 lakh crores for NHAI, emphasising transportation infrastructure’s role in boosting connectivity and economic growth. Robust infrastructure remains essential for India’s development trajectory.
Shareholding Pattern
As of the September 2024 shareholding pattern, IRB Infrastructure Developers Limited is primarily held by the promoters at 30.42 percent and foreign institutional investors at 45.99 percent, and the public at 45.49 percent. Furthermore, the government has a 0.01% stake in the company as well.
About Company
IRB Infrastructure Developers Limited, headquartered in Mumbai since 1998, leads India’s construction sector with a strong focus on highways. Under Chairman Virendra Dattatraya Mhaiskar’s leadership, IRB has revolutionised infrastructure through innovative and sustainable practices. It operates in Build-Operate-Transfer (BOT) projects, construction services, and real estate and airport development.
Notably, IRB executed India’s first BOT project with the Thane-Bhiwandi Bypass and manages about 12,000 lane kilometres of highways, including the Mumbai-Pune and Ahmedabad-Vadodara Expressways. Expanding into airport development with projects like Sindhudurg Airport, IRB continuously enhances India’s connectivity and socio-economic progress through robust financial strategies and innovative projects.
Written By Fazal Ul Vahab C H
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