IRB Infra and its private InvIT, IRB Infrastructure Trust has clocked a 20 per cent growth in toll collection in May. The integrate multinational infra player in the highways, collected Rs 411crore toll compared to Rs 343 crore last May.
IRB MP Expressway accounted for the highest at Rs 148.99 crore along with IRB Amhedabad Vadodara Super Express Tollway at Rs 60.9 crore and CG Tollway at Rs 31.19 crore making up the list of top three toll collection projects. All the 12 highways projects by IRB Infra clocked increase in toll collection and saw steady fund inflow.
Commenting on the collection, Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Development said, “After a promising start in April 2023 on toll collection front, it seems the momentum is continued in May, thus reinforcing consitency and robustness in growth across all highway corridors we manage across India.”
As per the company statement, the aggregate toll collection for FY23 was approximately 40% higher over FY22, indicating that with inflationary concerns gradually easing, traffic has remained strong and grown well. Toll Revenue is one of the parameters used to determine and measure the trend of economic growth of the region, as it reflects the Traffic Growth on the particular highway corridor in that region.
The company has recently also expanded presence in the south. The IRB Golkonda Expressway, SPV under IRB Infrastructure Developers, has signed Concession Agreement with HMDA (Hyderabad Metropolitan Development Authority) and now it will head for achieving financial closure to make an upfront payment of Rs 7,380 crore to the authority, within 120 days of signing the Concession Agreement. The tolling project extends to 158 km stretch and it includes toll plaza at 22 interchanges, 8 major bridges, 122 minor bridges, one flyover and 4 railways overbridges.