IRB Infrastructure Developers has received approval to invest up to 7.53 billion rupees in IRB InvIT Fund. This substantial investment approval comes alongside a reaffirmation of its long-term corporate family rating (CFR) at Ba1 from Moody's Investor Service, with a stable outlook maintained. These developments serve as positive indicators for the infrastructure company, reinforcing its financial stability and growth prospects in the market.

Key Rating Details

The rating agency has also upheld the Ba2 rating for IRB Infra's USD senior secured notes, set to mature in 2032. This dual affirmation underscores the company's consistent financial performance and market position.

Recent Financial Performance

IRB Infrastructure Developers has demonstrated resilience in its recent financial performance. According to the company's latest toll revenue report:

• The gross toll collection increased by approximately 11% year-on-year.
• Total toll revenue reached ₹557.00 crore, compared to ₹502.00 crore in the previous year.

Project Portfolio and Market Position

IRB Infra maintains a substantial presence in India's infrastructure sector:

• The company, along with IRB Infrastructure Trust, manages 26 road projects.
• These projects include:
  • 18 Build-Operate-Transfer (BOT)
  • 4 Toll-Operate-Transfer (TOT)
  • 4 Hybrid Annuity Model (HAM)
• IRB Infra commands a 33% market share in the TOT space and a 14% share in the Golden Quadrilateral Project.

Management Commentary

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers, commented on the recent performance: "Despite the extended monsoon impacting traffic, toll revenue rose by 11%, showing notable resilience. The GST reform, announced in August and implemented in late September, caused temporary softness in goods movement, slightly moderating the upside."

Murarka also expressed optimism for the future, stating, "Looking forward, the onset festive season coupled with the GST 2.0 implementation bringing surge in economic activities are expected to maintain sustained toll revenue growth in coming months."

Investment in IRB InvIT Fund

The approval for IRB Infrastructure to invest up to 7.53 billion rupees in IRB InvIT Fund marks a significant move for the company. This investment is expected to strengthen the company's position in the infrastructure sector and potentially enhance its revenue streams.

The stable outlook from Moody's, combined with the company's strong market position, consistent revenue growth, and the newly approved investment in IRB InvIT Fund, positions IRB Infrastructure Developers favorably in India's competitive infrastructure sector. Investors and market watchers will likely keep a close eye on the company's performance in the coming quarters, especially as it navigates the evolving economic landscape post-GST reforms and leverages its new investment opportunities.

IRB Infrastructure Developers Ltd , one of India's leading multi-national transport infrastructure developers, has reported a significant increase in its toll collection for September 2025. The company, along with IRB Infrastructure Trust, saw an 11% year-on-year growth in toll revenue, amounting to ₹557.00 crores compared to ₹502.00 crores in September 2024.

Key Highlights

• Total toll collection for September 2025: ₹557.00 crores
• Year-on-year growth: 11%
• Number of projects contributing to toll collection: 17

Project-wise Performance

The company's toll collection data reveals varied performance across its different projects. Here's a breakdown of the top-performing projects:

Management Commentary

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited, commented on the performance: "Despite the extended monsoon impacting traffic, September 2025 toll revenue rose by 11%, showing notable resilience. The GST reform, announced in August and implemented in late September, caused temporary softness in goods movement, slightly moderating the upside."

Future Outlook

Looking ahead, the company expects the onset of the festive season and the implementation of GST 2.0 to drive economic activities, potentially sustaining the growth in toll revenue in the coming months.

Company Profile

IRB Infrastructure Developers Ltd is India's first Integrated Multi-National Transport Infrastructure Developer in the Roads & Highways segment. With an asset base of approximately ₹80,000.00 crores spread across 12 states, IRB has a strong track record of constructing, tolling, operating, and maintaining around 19,000 Lane Kms pan India over more than 25 years.

The company currently operates 15,500 Lane Kms and holds a significant market share in the TOT (Toll-Operate-Transfer) space at around 33%. IRB also commands about 14% share in the prestigious Golden Quadrilateral Project and 12% share in India's North-South highway connectivity.

As the toll collection data indicates, IRB Infrastructure continues to demonstrate strong performance in its core business, reflecting the company's robust position in India's infrastructure development sector.