IRB Infra’s FY23 PAT doubles Y-o-Y to Rs. 720 Crs

New Delhi, May 22, 2023: IRB Infrastructure Developers Ltd. (IRB), India’s leading and the largest integrated multi-national highway infrastructure developer today announced the FY23 Financial Results, including Q4 Results, in its Board Meeting held at Mumbai.

The Board, in line with its Dividend Policy, has declared 2nd Interim Dividend of 7.5% on face value of equity share of Re. 1/- each making aggregate dividend payout of Rs. 120 Crore for FY23.

Financial Highlights of Q4FY23:



(Rs. In Crs)



(Rs. In Crs)



(Rs. In Crs)



(Rs. In Crs)

Total Income 1,699 1,683 6,703 6,355
EBITDA 838 891 3,531 3,349
Profit Before Tax 242 303 1,184 776
PAT before share of JV 167 235 827 588
Share of loss from JV (37) (61) (107) (227)
PAT after share of JV 130 175 720 361
Cash Profit 389 424 1,659 1,270

Commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, of IRB Infrastructure Developers Ltd. said, We experienced vibrant FY23 on all fronts. We bagged new BOT project; started construction of two BOTs and a HAM project; achieved CODs for a couple of BOT projects; and witnessed robust growth in toll collection. To add, we transferred a HAM project to the public InvIT; saw investments coming in from our global partner for prestigious Ganga Expressway; we facilitated equity share split to enhance interest of small investors, etc.” He further added, “FY24 looks to be promising, as we had 19% toll revenue growth in first month itself; got another TOT project, taking our share in TOT space to ~37%, the largest by any player in the sector. We expect to continue growth momentum throughout the year.”

The key highlights of business performance for FY23 are:

  • Toll revenue including Private InvIT SPVs,  in FY23, was 40% higher Y-o-Y
  • Toll collection through FASTag crossed 95% mark
  • Construction commenced on Ganga Expressway and Palsit Dankuni BOT projects; and Chittoor Thachur and Pathankot Mandi HAM project
  • Bagged Samakhiyali to Santalpur 6 laning BOT project of 90.90 Kms stretch on NH27 with cost outlay of Rs.2,132 Crs in the State of Gujarat
  • Completed re-financing of 3 BOT assets under Company’s private InvIT through redeemable non-convertible debentures issued on private placement basis, thereby cashflow saving of Rs.550 crores over the period of 5 years.
  • Transferred Vadodara Kim HAM project, which is part of New Delhi Mumbai 8 Lanes Greenfield Expressway and realized 1.2 times of equity invested, to the IRB InvIT Fund, a listed Public InvIT sponsored by the Company

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