IRB Infra Net Profit is Rs.160 Crs

  • Total Income is Rs. 1,790 Crs.
  • All projects under BOT portfolio are now Revenue Generating
  • Toll collection growth of 9% QoQ
  • Started tolling for Goa-Kundapur project
  • Emerges as a sole bidder for prestigious Mumbai-Pune Expressway TOT project

Mumbai, February 14, 2020: IRB Infrastructure Developers Ltd. (IRB), India’s leading and one of the largest highways infrastructure developers has posted a net profit of Rs.160 crores and revenue of Rs.1,790 crores for the third quarter ended 31st December 2019.

Company announced its unaudited financial results for the third quarter of FY20, in its board meeting held today in Mumbai.   

Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., commenting on the occasion, said, “Our execution pace continues to be strong and the quarter marked a return of traffic growth – presumably led by slight pick-up in economic activity across India. With Goa Kundapur project getting commissioned, all of our projects are now revenue generating.” He further added, “We are now expecting closure of deal with GIC affiliates soon and also a decision on Mum-Pune expressway project. Also, we are keenly evaluating a large pipeline of upcoming bids, comprising approx. Rs10,000cr TOT, Rs26,000cr BOT and Rs48,000cr HAM projects, expected to be awarded over the next 1-3 quarters. We would participate opportunistically over coming quarters to pave way for strong sustainable growth for IRB.”

The highlights of Financial Performance are:

Sr. No.

Particulars

Q3FY20

(In Crs. Rs.)

1

Total Income

1,790

2

Profit Before Tax

256

3

Net Profit

160

 

Business Highlights & Updates:

  • Received provisional completion certificate for Goa/Karnataka Border-Kundapur 4 laning Project on NH-17; started tolling.
  • All approvals for transferring 9 road assets to the IRB Infrastructure Trust are in place.
  • Company emerges as a single bidder for prestigious Mumbai–Pune Expressway TOT project; awaits the final outcome from the authorities.
  • Toll collection growth of 9% QoQ for ongoing concessions;

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India having strong track record of constructing over 12,600 lane Kms in 2 decades.

The Company has executed projects Pan-India with an ability to construct over 500 Kms in a year. It has approx. 20% share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

IRB Group’s portfolio comprises of 20 projects including 19 BOT and 1 HAM projects. BOT segment includes 7 operational projects, 5 projects under Tolling & Construction & 7 projects under O & M contracts as a Project Manager for IRB InvIT.

Company’s order book as on 31st December 2019 stands at approx. Rs.6,800 crores.

time_business_news_tbn_publish_with_us