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IRB Infra Share Price Rises 1%; Reports 23% Growth in November Toll Collection

Updated on: Dec 10, 2024, 4:30 PM IST
IRB Infrastructure Developers Ltd's share price gained 1% following the announcement of a 23% year-on-year growth in toll collections.
IRB Infra Share Price Rises 1%; Reports 23% Growth in November Toll Collection
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In a press release on the National Stock Exchange IRB Infrastructure Developers and IRB Infrastructure Trust reported a 23% year-on-year increase in toll collection for November 2024, totaling ₹536 crore. The growth reflects improved economic activity and travel.

Growth in Toll Collection

The aggregate toll collection for November 2024 stands at ₹536 crore compared to ₹437 crore in November 2023. This reflects a solid growth trajectory for the company, driven by improved economic conditions and higher travel activity, especially with the year-end festive season approaching.

 

Performance Across Key Projects

The toll collections across different projects and special purpose vehicles (SPVs) under IRB Infra’s portfolio showed strong growth in November 2024:

  • IRB MP Expressway Pvt Ltd

IRB MP Expressway saw the highest toll collection, contributing ₹ 1,464 Mn, slightly up from ₹1,411 Mn in November 2023.

  • IRB Ahmedabad Vadodara Super Express Tollway Pvt Ltd

IRB Ahmedabad Vadodara Super Express Tollway posted a strong increase, collecting ₹672 Mn, up from ₹593 Mn in the previous year.

  • CG Tollway Ltd

CG Tollway Limited managing the Chittorgarh to Gulabpura route, recorded a rise in collections to ₹301 Mn from ₹276 Mn last year.

 

Anticipation of Continued Growth

Shri Amitabh Murarka, Deputy CEO of the company, expressed optimism regarding the ongoing trend. The anticipated rise in toll collection is expected to continue, driven by the festive season and positive economic signals. As travel and economic activities typically surge during the year-end, IRB Infrastructure is poised to maintain strong performance in the coming months.

 

Share Price Performance

On December 10, 2024, IRB Infrastructure Developers’ share price (NSE: IRB) was trading 1.01% higher at ₹60 at 10:10 AM on the NSE. The stock opened at ₹60.50 higher than its previous close of ₹59.40.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 10, 2024, 10:14 AM IST

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