IRCON International shares gained nearly 3% to reach a high of ₹108.99 on the NSE following reports of the company's plans to monetise four highway assets. According to ET Now, the surge reflects investor confidence in the infrastructure monetisation initiative, with the company's stock responding positively to the strategic asset sale announcement. The government holds a 65% stake in the railway ministry's listed engineering and construction company, providing significant institutional backing for the monetisation programme.
Ircon International has placed four highway assets for sale as part of the government's broader infrastructure monetisation programme. As per ET Now, the enterprise value of these assets is estimated to be around ₹3,000 crore, with Axis Capital holding the sale mandate for the transaction. The portfolio comprises two build-operate-transfer toll-road assets and two hybrid annuity model projects located across multiple states, including the 97-km Ircon Shivpuri Guna Tollway in Madhya Pradesh and the 159-km Ircon PB Tollway in Rajasthan as toll-road projects, along with the 79-km Ircon Davanagere Haveri Highway in Karnataka and the 32-km Ircon Vadodara Kim Expressway in Gujarat.
For FY26, Ircon posted consolidated turnover of ₹9,502 crore and net profit of ₹592 crore. According to ET Now, the company's total order book has increased to ₹24,984 crore as of FY26, compared to ₹20,347 crore in FY25, indicating strong business pipeline. In Q1FY27, the company reported a 43.6% year-on-year decline in consolidated net profit to ₹92.74 crore, though revenue and operating profit increased during the quarter. The company's operating revenue from highways was ₹1,205 crore (14% of overall operating revenue) in FY26, representing a decline from ₹1,871 crore (18%) in FY25.
Ircon was upgraded to Navratna status in October 2023 from its previous mini ratna category-I PSU status since 1998. As reported by ET Now, the company remains primarily focused on its railway segment despite diversification efforts. The company has completed approximately 405 infrastructure projects in India and 130 international projects across over 25 countries, including Iran, Iraq, Jordan, Turkey, Malaysia, Nigeria, Brazil, and others. Emails sent to Ircon officials did not elicit a response, indicating the company's non-disclosure policy regarding the monetisation initiative.
