IRB Infra soars to 52-week high as toll collections jump 26% in December

The Samakhiyali Santalpur BOT project in Gujarat started collecting toll from December 28 and will have a full quarter’s worth of revenue to contribute in the remaining months of FY24

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Shares of IRB Infrastructure Developers soared 8 percent to hit a 52-week high of Rs 45.55 on January 9 after the company reported a strong growth in toll collections for December.

The company collected Rs 488 crore in toll in December, up 26 percent from Rs 388 crore in the same month of the previous fiscal.

At 9.42 am, IRB Infra was trading at Rs 45.20 on the National Stock Exchange, up 7.4 percent from the previous close.

“Pleased to see the continued growth momentum across all our highways assets. Since, the second half of the financial year is always better for toll collection perspective, we expect this growth to continue for the remaining quarter of FY24 too,” deputy CEO Amitabh Murarka said.

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A new project, the Samakhiyali Santalpur BOT project in Gujarat, started collecting toll on December 28 and would have a full quarter’s worth of revenue to contribute in FY24.

Hyderabad Outer Ring Road, Ahmedabad Vadodara Expressway NE1 and Highway- NH48, and Mumbai Pune Expressway & Old Mumbai Pune Highway-NH4 were among the roads that contributed the most to December collections.

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