Mumbai, January 31, 2025: IRB Infrastructure Developers Ltd (NSE: IRB, BSE: 532947), India’s leading toll road developer, has reported an 18% year-on-year (YoY) increase in net profit, excluding exceptional gains, for the third quarter of the financial year 2024-25 (Q3 FY25). The company declared a third interim dividend of ₹0.10 per equity share (10% of face value) for FY25.
Financial Highlights (₹ in crore)
| Particulars | Q3 FY25 | Q3 FY24 | % Change/Times |
|---|---|---|---|
| Total Income | 2,090 | 2,077 | 1% |
| EBITDA | 1,049 | 978 | 7% |
| Profit Before Tax (PBT) | 323 | 294 | 10% |
| PAT (Excluding Exceptional Gains) | 222 | 187 | 18% |
| PAT (Including Exceptional Gains) | 6,026 | 187 | 31x |
Operational Performance
- Toll Collection Growth: The company and its Private InvIT associate recorded a 21% YoY growth in toll collections, reaching ₹1,655 crore in Q3 FY25, compared to ₹1,373 crore in Q3 FY24.
- Asset Monetization: The IRB Infrastructure Trust (Private InvIT) has offered five mature assets valued at ₹15,000 crore to the IRB InvIT Fund (Public InvIT). The transaction is expected to be completed in the first half of FY26, subject to approvals.
- Dividend Income: IRB expects to receive ₹27.51 crore in dividends for Q3 FY25 from its 51% stake in IRB Infrastructure Trust.
- Meerut Budaun Expressway Transfer: The Meerut Budaun Expressway project, part of the Ganga Expressway, was successfully transferred to IRB Infrastructure Trust (Private InvIT).
Management Commentary
Commenting on the performance, Virendra D. Mhaiskar, Chairman & Managing Director, stated:He further added:
Strategic Developments
- $200 Million Senior Secured Notes Issued: The company issued 7.11% Senior Secured Notes worth $200 million, maturing on March 11, 2032.
- Dividend Distribution for FY25: With the third interim dividend, the total dividend declared for FY25 now stands at ₹181.1 crore.
Outlook
IRB Infrastructure Developers remains focused on expanding its road and highway portfolio, leveraging InvITs for asset monetization, and capitalizing on government-backed infrastructure initiatives. The company aims to enhance investor value while maintaining robust operational and financial performance.About IRB Infrastructure Developers Ltd
IRB Infrastructure Developers Ltd (IRB) is India’s largest integrated private toll roads and highways developer, with an asset base of ₹80,000 crore spanning 12 states. The company has a strong track record of constructing, tolling, operating, and maintaining 18,500 lane km of highways over the past 25+ years.Current Portfolio (Including InvITs):
- 26 road projects: 18 BOT, 4 TOT, and 4 HAM (Hybrid Annuity Model).
- 15,500 lane km under operations.
Disclaimer
The forward-looking statements in this release are subject to risks and uncertainties. The actual results may differ materially from those expressed due to regulatory, market, and economic conditions.