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IRB is India's first integrated multinational transport infrastructure developer in the roads & highways segment. The company has a strong track record of constructing, tolling, operating, and maintaining around 19,000 lane kms pan-India in its existence of more than 25 years in India.
The company reported a 41% surge in consolidated net profit to Rs 140.82 crore on a 10.42% increase in total revenue from operations to Rs 1,751.02 crore in Q2 FY26 over Q2 FY25.
The LoA covers a 74.5-km stretch of the Chandikhole–Bhadrak corridor, part of the government’s Golden Quadrilateral Project.
Virendra D. Mhaiskar, chairman & managing director of IRB Infrastructure Developers, said, “This award places us on a fast track to building an asset portfolio of Rs 1 lakh crore in the near future, the largest by any private toll road developer in India. The addition of TOT-17 and TOT-18 together will enhance the toll revenues by about Rs 1,000 crore in FY27.”
IRB Infrastructure Developers is India’s first integrated multinational transport infrastructure developer in the roads & highways segment. As the largest integrated private toll road and highway infrastructure developer in India, IRB has an asset base of approx. Rs 94,000 crore in 13 states across the parent company and two InvITs.
Shares of IRB Infrastructure Developers rose 0.86% to Rs 42.24 on the BSE.
The trust will make an upfront concession fee payment of Rs 3,087 crore to National Highways Authority of India after achieving financial closure. The concession period is 20 years and is revenue-linked. Tolling and operations are expected to commence from the appointed date, with annual tariff revision set at a fixed 3% plus 40% of the wholesale price index.
IRB Infrastructure Developers will act as the project manager for the concession. The project marks the group’s entry into its 13th Indian state and its second project in eastern India, following its West Bengal asset on NH-19.
The company said the order book is expected to increase by about Rs 1,600 crore with this project. The TOT-18 asset is part of the Golden Quadrilateral network and further strengthens IRB Group’s presence in the TOT segment.
IRB Infrastructure Developers is India’s first Integrated multi-national transport infrastructure developer in roads & highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approx. Rs 94,000 crore in 13 States across the parent company and two InvITs.
IRB is India's first integrated multi-national transport infrastructure developer in roads & highways segment. The company has strong track record of constructing, tolling, operating, and maintaining around 19,000 Lane Kms pan India in its existence of more than 25 years in India.
The TOT 17 project lifts the Trust’s asset base to about Rs 65,000 crore. The IRB Group’s overall portfolio will also cross Rs 90,000 crore. Management said this win strengthens IRB’s position in the highway monetisation space. Its market share in TOT projects now rises to 42%. The project adds long term visibility to toll revenues and cash flows. It also expands the group’s O&M order book by around 20%.
IRB will act as the Project Manager for this corridor. The company noted that this award brings the platform closer to the Rs 1 lakh crore milestone.
It reported a 41% surge in consolidated net profit to Rs 140.82 crore on a 10.42% increase in total revenue from operations to Rs 1,751.02 crore in Q2 FY26 over Q2 FY25.
Key highlights of the project:
IRB Infrastructure Developers will be the Project Manager for the Project.
The Trust to pay upfront Bid Concession Fee of Rs. 9,270 crore to NHAI for revenue-linked Concession Period of 20 years.
Trust's asset portfolio will increase by ~20% to ~Rs 65,000 Crore with addition of this project with a long-term revenue & cashflow generation visibility.