- IRB Infrastructure Ltd, declared a profit of Rs.1.43bn (1 billion= 100 Cr) on total income of Rs.9.47bn for the Q3FY13. Income from operations was up by 23% to Rs.9.14bn for Q3FY13 from Rs.745 crores for Q3FY12.
- IRB has also declared 3rd interim dividend of Re. 1 per share for FY13.
- Due to strong construction activities, construction revenue increased by 29% in comparison to Q3FY12.
- Construction segment Operating EBITDA remained strong at around 26% during the quarter ended 31st December, 2012.
- Toll revenue also increased by around 10% in comparison to Q3FY12 on the back of moderate traffic growth.
- From 1st January 2013, IRB Infrastructure Lted has commenced toll collection on its Ahmedabad Vadodara Expressway and construction on NH8, both forming part of Ahmedabad Vadodara BOT Project. The Construction period is 3 years with concession period of 25 years. The average daily toll collection stands at Rs.40 mn on gross basis.
- IRB Infra has also received all requisite approvals to commence work on its Sindhudurg Airport project and accordingly construction will commence in this quarter. The Project is having total capital outlay of Rs. 3.50 bn to be funded with debt equity mix of 2:1 which will be funded from internal accruals.
- In Q3FY13, IRB Infra bagged the project of Four Laning of Goa/ Karnataka Border – Kundapur section of NH- 17 from existing 93.700 Km to 283.300 Km in the State of Karnataka under NHDP Phase IV on Design, Build, Finance Operate and Transfer (DBFOT) Toll Basis.
Very recently IRB Infrastructure Developers said its wholly-owned subsidiary, IRB Westcoast Tollway, has executed concession agreement with the National Highways Authority of India (NHAI) for a road project in Karnataka on design, build, finance, operate and transfer (DBFOT) (Toll) basis. The project has a concession period of 28 years. Scope of work involves upgradation of existing section of National Highway (NH)-17 between Goa/Karnataka border and Kundapur from existing 2 lane highway to 4 lane highway. Estimated project cost is approximately Rs.2600 crore and the construction is to be completed within 910 days from the appointed date. IRB Westcoast Tollway will get tolling rights on NH-17 upon completion of construction. The grant sought by the IRB Westcoast Tollway from NHAI is Rs.536.22 crore.
Recently, IRB Infrastructure Developers Ltd's founder VD Mhaiskar bought 2.7 lakh shares in the company.