IRB Infrastructure Developers Group reported a 25% year-on-year increase in toll revenue for May 2026, reaching ₹843Cr compared to ₹672Cr in the corresponding period of the previous year. The consolidated toll revenue for the group stood at ₹8,427 million in May 2026, up from ₹6,725 million in May 2025. The growth was driven by robust traffic expansion across existing projects and the contribution from newly operational assets. The group comprises IRB Infrastructure Developers and its two sponsored InvITs — IRB Infrastructure Trust and IRB InvIT Fund.

Amitabh Murarka, Dy. CEO of IRB Infrastructure Developers Limited, attributed the performance to strong economic fundamentals despite inflationary pressures and geopolitical unrest, highlighting the support from tolling commencement on newly operational assets as a key factor.

Project-wise Revenue Breakdown

The revenue was generated across 25 project entities, including wholly-owned subsidiaries and assets held under the private and public InvITs. IRB MP Expressway Pvt Limited contributed the highest revenue at ₹1,762 million, followed by IRB Ahmedabad Vadodara Super Express Tollway Private Limited at ₹838 million. The following table presents the detailed project-wise performance:

New Operational Assets

Several projects commenced toll operations during the current financial year, contributing to the revenue growth. IRB Harihara Corridors Tollway Private Limited and IRB Chandibhadra Tollway Limited received the appointed date from NHAI and began toll collection in January and April 2026, respectively. Meerut Budaun Expressway Limited commenced tolling on May 17, 2026. Additionally, assets acquired on November 1, 2025 — including Kaithal Tollway Limited, Kishangarh Gulabpura Tollway Limited, and IRB Hapur Moradabad Tollway Limited — are presented for comparison purposes.

Strategic Outlook

The IRB Group currently manages a portfolio of 28 revenue-generating highway assets with an enterprise value of approximately ₹940 billion across 13 states. The group has transitioned into a cash-harvesting phase, supported by its InvIT monetization strategy. Management expressed confidence in sustaining the growth momentum in the coming months, citing a weighted average residual concession life of approximately 21 years.

IRB Infrastructure Developers disclosed that its promoters and promoter group members have not created any fresh encumbrances on the company's shares during the financial year 2025-26. The declaration confirms that no shares have been pledged or otherwise encumbered directly or indirectly beyond those already disclosed. This compliance filing was submitted to the stock exchanges on April 06, 2026, under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

The filing was submitted on behalf of the promoters and the promoter group, including IRB Holding Private Limited. The declaration was signed by key officials, including Virendra D. Mhaiskar in his capacity as Director of IRB Holding Private Limited and Karta of Virendra D. Mhaiskar HUF. Other signatories included Deepali V. Mhaiskar and Aryan V. Mhaiskar, acting as Promoter and Promoter Group member respectively.

Promoter and Promoter Group List

The annexure to the disclosure provides the complete list of individuals and entities classified as promoters or promoter group members as on March 31, 2026.

The disclosure explicitly states that the status of share encumbrances remains limited to those reported in the previous financial period. The submission was addressed to the Corporate Relationship Department of BSE Limited and the Listing Department of National Stock Exchange of India Limited, with a copy marked to irb infrastructure developers .