IRB InvIT Fund, sponsored by IRB Infrastructure Developers Ltd, announced on Friday (February 27) that Kaithal Tollway Ltd (KTL), a project SPV of the fund, has received a unanimous Arbitral Award in arbitration proceedings against the National Highways Authority of India (NHAI). According to reports from CNBC TV18, under the award, Kaithal Tollway Ltd is entitled to ₹273.54 crore, along with interest applicable up to the date of realisation. The arbitral decision also grants a concession period extension of 136.77 days, attributable to construction delays caused by NHAI, as per the applicable transaction documents.
Last week, IRB Infrastructure Developers announced ambitious plans for asset base expansion, expecting it to increase from around ₹80,000 crore to about ₹1,40,000 crore over time as the company sharpens its focus on asset-led growth. As reported by CNBC TV18, the asset business currently accounts for nearly 95% of the company's value. Over the last two quarters, the company monetised assets worth ₹8,400 crore and used this capital to acquire assets worth ₹14,000 crore. According to Anil Yadav, CEO of Business Development and Investments, this strategy supports asset base expansion and helps build long-term revenue from operating assets.
IRB Infrastructure reported mixed financial results for Q3FY26, with total consolidated revenue from operations declining 7.61% year-on-year to ₹1,871.17 crore compared to ₹2,025.44 crore in the year-ago period. As reported by CNBC TV18, net profit plunged significantly by 96.5% YoY to ₹210.79 crore in Q3FY26 from ₹6,026.11 crore in Q3FY25. However, margins expanded by 600 basis points to 54.6% in the quarter under review, while EBITDA rose 1.4% YoY to ₹1,063.5 crore in Q3FY26 from ₹1,049.2 crore in Q3FY25.
Shares of IRB Infrastructure Developers Ltd ended at ₹41.70, up by ₹0.12, or 0.29%, on the BSE following the announcement. According to CNBC TV18, the positive market response reflects investor confidence in the company's asset monetisation strategy and the potential value unlock from the arbitral award.
