homemarket Newsstocks NewsIRB Infra shares rise after company says toll collection rising for all projects
IRB Infra shares rise after company says toll collection rising for all projects
The collection of 10 JV entities under the InvIT was Rs 186.79 crore in the month under review as against Rs 103.8 crore in the year-ago period.
IRB Infrastructure's gross toll collection has risen 39.2 percent to Rs 365.95 crore in November 2022 from Rs 262.81 crore in November 2021.
The toll collection of its two wholly-owned subsidiaries – IRB MP Expressway Pvt. Ltd. and IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd. - was Rs 179.16 crore in November 2022 as against Rs 158.93 crore in the year-ago month, a growth of 12 percent.
The collection of 10 JV entities under the InvIT was Rs 186.79 crore in the month under review as against Rs 103.8 crore in the year-ago period.
Also Read: IRB Infra shares jump most in five months after signing definitive agreements for Ganga Expressway
The IRB Group company has 22 highway projects across 10 Indian states and has an asset base of Rs 60,000 crore. It has 43 toll plazas with 572 FASTag lanes that cater to around 10 lakh vehicles every day.
The company also has a 12,000 km lane under operations and a 20 percent share in the Golden Quadrilateral Project.
The company’s Group CFO Tushar Kawedia told CNBC-TV18 that the company saw nearly 20 percent growth in toll collections in the first half of the financial year. He added that they were expecting a similar 20 percent growth for the full year as the momentum was still continuing with the festive season.
Shares of the highway construction company are trading at Rs 284.25, up 2.64 percent.
(Edited by : Rukmani Krishna)
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