FCC

IRB Infrastructure toll revenue grows 24 pc to Rs 417 cr

2023-09-12

IRB Infrastructure Developers Ltd (IRB) has announced a robust growth of 24% in its toll collection revenue for the month of August 2023. The company reported total revenue from toll collection amounting to Rs 417.2 crore, marking a significant increase from Rs 336 crore during the same period last year, according to a statement issued by IRB.

A standout contributor to this remarkable achievement was the IRB MP Expressway in Maharashtra, which accounted for a substantial share of the total revenue collection, amounting to Rs 141.1 crore. This underscores the vital role played by well-maintained road infrastructure in bolstering economic activity and connectivity.

On a month-on-month basis, IRB recorded a 14% increase in toll collection revenue, with August 2023 collections reaching Rs 417.2 crore, compared to Rs 365 crore in July 2023. This steady month-on-month growth highlights the company's continued commitment to efficient toll management and infrastructure development.

Amitabh Murarka, Deputy Chief Executive Officer of IRB, expressed optimism about the company's future prospects, stating, "We have added the Hyderabad ORR project to our portfolio, and with the forthcoming festival season and the likely commencement of toll collection on the newly secured Samakhiyali Santalpur BOT project in Gujarat, we expect the toll revenue to pick up pace."

IRB Infrastructure's dedication to expanding its infrastructure projects and enhancing road connectivity has contributed significantly to its positive financial performance. The addition of new projects and the upcoming festive season bode well for the company's continued growth in the infrastructure sector.

IRB Infrastructure Developers Ltd continues to demonstrate its commitment to providing efficient and well-maintained road networks that play a vital role in driving economic development and connectivity across the country.