Infra+InvIT Record 24% Y-O-Y

Hyderabad Outer Ring Road to boost IRB toll further.

MUMBAI, Sep 12 (The CONNECT) – IRB Infrastructure Developers Limited and its private InvIT, IRB Infrastructure Trust have collectively reported the toll revenue of Rs. 417 Crs for the month of August 2023 as against Rs.336 Crs in August 2022 marking a Y-o-Y growth of 24%.

Company’s wholly owned subsidiaries, which manage Mumbai Pune project and Ahmedabad Vadodara project, reported aggregate toll revenue of Rs.198 Crs against Rs.165 Crs in August 2022; thus, growth of 20%. Similarly, the joint ventures entities under IRB Infrastructure Trust, Private InvIT clocked toll revenue of Rs.219 Crs in August 2023, as against Rs.171 Crs in August 2022; thus, growth of 28%.   

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited said, the company has added the Hyderabad ORR project and commenced the toll collection from 12nd August 12.”

“We expect the toll revenue to pick up pace, in view of forthcoming festival season along with likely commencement of toll collection on newly bagged Samakhiyali Santalpur BOT project in the State of Gujarat,” he said.   

The toll collection details Project and SPV wise are:

Sr. NoCompany NameAugust 2023(Rs. in Millions)August 2022(Rs. in Millions)
Operational days3131
1IRB MP Expressway Pvt Limited1,411.301,150.26
2IRB Ahmedabad Vadodara Super Express Tollway Private Limited567.35501.18
3CG Tollway Limited310.39280.04
4Udaipur Tollway Limited239.07194.26
5Palsit Dankuni Tollway Private Limited139.28163.80
6AE Tollway Limited184.65167.89
7Yedeshi Aurangabad Tollway Limited214.24204.16
8IRB Hapur Moradabad Tollway Limited190.22189.90
9Kaithal Tollway Limited122.39126.47
10Kishangarh Gulabpura Tollway Limited200.83189.39
11IRB Westcoast Tollway Limited104.7091.95
12Solapur Yedeshi Tollway Limited106.06100.60
13IRB Golconda Expressway Private Limited (w.e.f. 12th August 2023)381.58

IRB has recently acquired 158 Kms (1,264 Lane Kms) long Nehru Outer Ring Road project in Hyderabad, through a global competitive bidding process and subsequently by making an upfront payment of Rs.7,380 Crs to the Hyderabad Metropolitan Development Authority (HMDA). The Company received the tolling rights for revenue linked concession period of 30 years.

The project forms the ring road for urban traffic movement in and around the city of Hyderabad, which gets further boost for being part of north and south corridor – thus bringing significant passenger and commercial traffic to the corridor. This is also visible in the robust CAGR of ~15% witnessed for the project since it became fully operational i.e., FY2019 to FY2023.