IRB Infra shares gain 8% after 25% growth in August toll revenue from last year

Shares of IRB Infrastructure Developers Ltd. gained up to 8% on Thursday, September 10, after the company said it reported a 25% increase in its toll revenue in August to ₹807 crore from ₹646 crore in the previous year.

Its wholly-owned subsidiary IRB MP Expressway Pvt. Ltd. reported gross toll revenue of ₹172.1 crore in August from ₹144.7 crore last year. Meanwhile, its other wholly-owned subsidiary IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd.'s gross toll increased to ₹80.3 crore from ₹69.1 crore in August last year.

A total of 15 entities were under joint-ventures, IRB Infrastructure Trust (Pvt InvIT). Of these, 10 assets reported an increase in toll revenue in August compared to the previous year, one reported a decline, one was unchanged from the previous year and three did not have year-ago comparisons.

The IRB Golconda Expressway Pvt. Ltd. reported the highest toll revenue of ₹87.9 crore in August compared to ₹73.7 crore last year. This was followed by IRB Lalitpur Tollway Pvt. Ltd. which reported a ₹435 crore toll revenue compared to ₹361 crore.

The Samakhiyali Tollway Pvt. Ltd.'s toll revenue was unchanged at ₹118 crore, while the IRB Harihara Corridors Pvt. Ltd., IRB Chandibhadra Tollway Pvt. Ltd. and Meerat Budaun Expressway Ltd. did not have previous year comparisons.

There were a total of eight assets in the IRB InvIT Fund (Public InvIT) segment and six of them reported an increase in revenue in August.

Of these, IRB Tumkur Chitradurga Tollway Ltd.'s toll revenue increased the highest to ₹38.4 crore from ₹34.9 crore. Meanwhile, Kishangarh Gulabpura Tollway Ltd., the second highest toll revenue maker at ₹22.5 crore in this segment but was below the previous year's ₹23 crore. IRB Hapur Moradabad Tollway Ltd. was the other asset that reported a decline in tollway revenue to ₹22.3 crore from ₹28.9 crore last year.

These two assets, along with Kaithal Tollway Ltd., which saw a revenue increase to ₹12 crore from ₹11.2 crore, the company said were acquired by IRB InvIT Fund on November 1, 2025 and the numbers for the previous period were presented only for comparison purposes.

IRB Infra deputy CEO Amitabh Murarka said with robust GDP growth indicating sustained economic activity, coupled with the onset of the festive season beginning with the Ganesh festival, the company expects the positive traffic momentum to continue.

'We remain positioned to deliver stronger toll revenue growth in the coming months, further strengthening our overall growth momentum," Murarka said.

Shares of IRB Infra gained 8% to hit an intraday high of ₹20.6 apiece on Thursday. The stock was up 3.9% at ₹19.81 apiece at 9.41 am. It is up 1.3% in the past month but is down 6.2% this year, so far,

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