IRB Infrastructure Reports 11% YoY Rise in September Toll Revenue to ₹557 Crore

Mumbai, October 8, 2025:  IRB Infrastructure Developers Ltd (NSE: IRB), the country’s largest integrated toll roads and highways developer, has reported strong second-quarter results with an 11% year-on-year growth in toll revenue. The total revenue reached ₹557 crore in September 2025, compared to ₹502 crore in the same month in 2024.

IRB Infrastructure Developers Ltd is India’s first integrated multinational transport infrastructure developer in the roads and highways segment. With an asset base of ₹80,000 crore across 12 states, the company has developed nearly 19,000 lane kilometers, of which 15,500 lane kilometers are operational. IRB holds approximately 33% market share in the TOT space and 14% in the Golden Quadrilateral project, positioning it as a leader in the country’s highway infrastructure sector.

Key Toll Revenue Highlights

The strong performance is attributed to sustained vehicle movements across national and state highways, as well as the operation of several new expressways over the past twelve months. The toll management has been quite efficient, and despite strong monsoon conditions and short-term GST-led disruption, IRB maintained heavy traffic flow across the network.

Project-wise Toll Collection (Top Performers)

IRB Infrastructure’s top-performing toll projects showed steady growth in September 2025 compared to the same month last year. IRB MP Expressway Pvt. Ltd. led with ₹1,386 million in tolls, up marginally from ₹1,368 million. IRB Golconda Expressway Pvt. Ltd. and IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd. recorded notable gains of about 16% and 15.6%, respectively. Kishangarh Gulabpura Tollway Ltd. rose 22%, while IRB Hapur Moradabad Tollway Ltd. saw a 20% increase, reflecting broad-based improvement across key projects.

Management Commentary

The company’s Deputy CEO, Mr. Amitabh Murarka, stated that the extended monsoon has affected traffic; however, the overall number was still good, and the September 2025 toll revenue rose by 11%. With the festive season around the corner and the post-reform recovery in place, toll revenues are expected to increase in the coming months.

Market Reaction

After announcing the second quarter results, IRB’s share price opened at ₹42.09, 1.45% higher than the previous closing price at ₹41.49. However, by 11:45 AM, there was a certain degree of consolidation, and the stock traded at ₹41.90 per share, roughly 1% above the previous day’s closing price. The scrip has a 52-week range between ₹61.99 (high) and ₹40.51 (low).

REF: https://nsearchives.nseindia.com/corporate/IRB_07102025182316_IRBIDL_disclosure_Toll_Revenue_Sept2025_sd.pdf

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