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IRB Infrastructure Developers Limited is a leading Indian infrastructure development company specializing in road and highway projects. The company operates in Build-Operate-Transfer (BOT), Hybrid Annuity Model (HAM), and Toll-Operate-Transfer (TOT) spaces. IRB manages a portfolio of 24 projects, including 19 BOT, 1 TOT, and 4 HAM projects. The company's operations span approximately 15,500 lane kilometers and include in-house capabilities for engineering, procurement, construction, operation, and maintenance. IRB also has a presence in airport infrastructure with the Sindhudurg Airport project. Founded in 1998, IRB has expanded its portfolio over the years through various highway and expressway projects across multiple Indian states.
In the news

IRB Infrastructure approves ₹351 cr InvIT Fund investment, merges 9 subsidiaries

IRB Infrastructure Q1 profit jumps 51% to ₹306.3 crore

IRB Infrastructure June toll collections surge 28% to record ₹8,078 cr

IRB Infrastructure transfers ₹4,605 cr BOT assets to InvIT

Anand Rathi's Kothari picks 3 stocks under ₹100 for short-term

IRB Infrastructure shares surge 13% on FY27 growth outlook, ₹4.4L cr monetisation

IRB Infra Q4 profit surges 40% to ₹300 cr on toll growth

IRB Infrastructure Q4 PAT jumps 38% YoY to ₹296 crore

IRB Infra Q4 Results: 6% stock surge on strong operating performance

IRB InvIT renews ₹1,340 cr operations deal with IRB Infra

IRB Infra unaffected by Iran war, management confirms

Market Rotation: Energy, Pharma, and Infrastructure Win as Financials Lag

IRB Infrastructure jumps 9% on bonus issue ex-date; Q3 results

IRB Infrastructure toll revenue jumps 22% to ₹746 crore in Feb

IRB Infra, NCC shares could rally 70% on promoter buying: CLSA

IRB InvIT Fund gets ₹274 cr arbitral award, 137-day extension

IRB Infra cuts debt by ₹700 cr with Gandeva Ena HAM transfer

Stocks to Watch: Tata Steel Posts Record Q3, Infosys AI Deal

IRB Infra shares surge 2.4% on 12% YoY toll growth to ₹754 cr
The Quarter story
The two most recent quarterly results, compared side-by-side.
IRB Infrastructure delivers strong toll revenue growth and high segment margins, though rising depreciation and debt require monitoring.
InvITs EBITDA grew from ₹2,763 Cr in Q4 FY25 to ₹4,097 Cr in Q1 FY27, driven by higher toll collections and new asset onboarding.
Depreciation and amortization charges rose from ₹2,863 Cr in Q4 FY25 to ₹3,334 Cr in Q1 FY27, pressuring net profit margins as the asset base expands.
BOT/TOT EBITDA margin expanded from 84% in Q4 FY25 to 91% in Q1 FY27, reflecting strong operational efficiency across toll corridors.
Gross debt increased from ₹214 Cr in Q4 FY25 to ₹239 Cr in Q4 FY26, indicating higher financing requirements for ongoing infrastructure projects.
Construction order book increased from ₹305 Cr in Q4 FY25 to ₹441 Cr in Q1 FY27, securing steady project visibility for the pipeline.
EPC order book contracted from ₹24 Cr in Q4 FY25 to ₹17 Cr in Q1 FY27, signaling a slowdown in engineering and construction contracts.
Consolidated net debt declined from ₹118 Cr in Q1 FY26 to ₹107 Cr in Q1 FY27, showing disciplined balance sheet management.
Samakhiyali Santalpur toll revenue fell from ₹369 Cr in Q4 FY25 to ₹331 Cr in Q1 FY27, reflecting weak traffic volumes on this specific corridor.
Public InvIT distribution per unit rose from ₹1.16 in Q1 FY26 to ₹2.08 in Q1 FY27, rewarding investors with higher quarterly payouts.
Dividend payouts remain volatile, swinging from a negative ₹423 Cr in Q2 FY26 to ₹604 Cr in Q1 FY27, creating uncertainty for shareholder returns.