IRB Infra shares surge to 52-week high as gross toll collections rise 20% in November

Among the company’s various projects and special purpose vehicles (SPVs), the Mumbai Pune Expressway & Old Mumbai Pune Highway (NH4), Hyderabad Outer Roing Road, and Ahmedabad Vadodara Expressway contributed the highest toll collections.

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Shares of IRB Infrastructure Developers soared 6.5 percent in early trade to hit a 52-week high of Rs 40.95 on December 8 after the company reported a 20 percent on year rise in gross toll collections in November. The company clocked in toll collections worth Rs 437.05 crore in November as against Rs 366 crore in the year-ago period. The rise in toll collections came despite the softened economic activities on account of festival holidays during the month.

At 09.39 am, shares of IRB Infra were trading 5 percent higher at Rs 40.40 on the NSE.

“We have witnessed a continued rise in toll collection, despite Diwali holidays, which briefly slowed down the momentum of economic activities for almost a week,” said Amitabh Murarka, Deputy CEO of the company.

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“Overall, it’s promising to see the persistent growth momentum gained in first eight months of FY24. The second half of the year is always better from a toll collection perspective; accordingly, we expect the growth momentum to continue.” Munraka added.

Among the company’s various projects and special purpose vehicles (SPVs), the Mumbai Pune Expressway & Old Mumbai Pune Highway (NH4), Hyderabad Outer Roing Road, and Ahmedabad Vadodara Expressway contributed the highest toll collections.

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