IRB Infrastructure Developers Ltd, a major player in the highway sector, has witnessed a significant growth in toll collection. The group has collectively reported toll revenue of Rs 417 crore for the period of August 2023. In comparison with last year, the August 2023 collection is 28 per cent higher.
In the same period last year, the company had clocked revenue of Rs 336 crore and thereby it registered Y-o-Y growth of 24 per cent. The company’s wholly-owned subsidiaries, which manage Mumbai-Pune project and Ahmedabad-Vadodara project, reported aggregate toll revenue of Rs 198 crore last month. In the same period last year, it collected toll revenue of Rs 165 crore and thereby witnessed growth of 20 per cent.
Private InvIT collects toll revenue of Rs 219 crore
Last month, the Private InvIT, one of the joint ventures entities under IRB Infrastructure Trust, collected toll revenue of Rs 219 crore. This is more than 28 per cent as against August 2022, where it earned Rs 171 crore.
In a statement, IRB INfra’s Deputy CEO Amitabh Murarka, said, “We expect the toll revenue to pick up pace, in view of the forthcoming festival season.” Murrarka further added, “The company will soon begin the toll collection on newly bagged Gujarat’s Samakhiali Santalpur BOT project.”
Nehru Outer Ring Road project in Hyderabad
The company acquired tolling rights of Telangana’s Nehru Outer Ring Road project for Rs 7,380 crore. The payment was made to the Hyderabad Metropolitan Development Authority (HMDA). With this, IRB Infra now has tolling rights for a 158-km-long road project with a concession period of 30 years.