IRB Infrastructure Developers’ Toll Collection Grows 24% in August
IRB Infrastructure Developers Ltd (IRB) on Monday reported a 24% growth in its toll collection to Rs 417.2 crore in August 2023, from Rs 336 crore in the same month last year.
The company’s toll collection on a month-on-month basis was also up 14% from Rs 365 crore in July 2023.
Out of its 13 toll projects, IRB MP Expressway in Maharashtra contributed the major share of Rs 141.1 crore to the total revenue collection.
The company’s newly acquired Hyderabad ORR project also started toll collection in August.
Amitabh Murarka, Deputy Chief Executive Officer of IRB, said, “We expect the toll revenue to pick up pace in the coming months, in view of the forthcoming festival season along with likely commencement of toll collection on newly bagged Samakhiyali Santalpur BOT project in Gujarat.”
IRB is India’s first integrated infrastructure player in the highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs 70,000 crore in 11 states.
Here are some of the key takeaways from the article:
- IRB Infrastructure Developers’ toll collection grew 24% in August 2023.
- The company’s toll collection on a month-on-month basis was also up 14%.
- Out of its 13 toll projects, IRB MP Expressway in Maharashtra contributed the major share of Rs 141.1 crore to the total revenue collection.
- The company’s newly acquired Hyderabad ORR project also started toll collection in August.
- IRB expects the toll revenue to pick up pace in the coming months.
Related News
- 22 Sep
OYO Records Strong Growth in Business Travel Segment
OYO, a hospitality tech platform, has recorded strong growth in the business travel segment in the first seven months of 2023. The company has added nearly 2,800 corporate clients and its revenue from business travel has grown by 20%. The growth is being driven by strong demand from startups, film production houses, travel management companies, small and medium scale enterprises, and traditional business houses & conglomerates. OYO's commitment to providing affordable and reliable accommodation options to businesses of all sizes has made it a preferred choice for businesses across India.
- 22 Sep
Pharma Major Lupin Acquires 5 Legacy Brands from Menarini for Indian Market
Pharma major Lupin Limited has acquired five legacy brands in strategic therapy areas from Menarini for the Indian market. The brands are Piclin, Menoctyl, Sucramal O, Pyridium, and Distaclor. This strategic acquisition is in line with Lupin's goal to broaden its presence in the Indian market and offer a comprehensive range of products. The five brands acquired by Lupin have a range of medicinal properties and are used to treat a variety of conditions, including constipation, irritable bowel syndrome, acidity, stomach ulcer, heartburn, pain, burning, increased urination, and increased urge to urinate.
- 22 Sep
JPMorgan to Add Indian Government Bonds to Benchmark Emerging-Market Index
JPMorgan is adding Indian government bonds to its list of emerging market bonds that it invests in. This is a good thing for India because it means that more foreign investors will be able to buy Indian government bonds. This could bring in billions of dollars of investment into India, which would help the Indian economy grow.
- 21 Sep
Liberty General Insurance Appoints Parag Ved as CEO
Liberty General Insurance, a leading general insurance company in India, has announced the appointment of Parag Ved as its new Chief Executive Officer (CEO). Ved has over two decades of experience in the insurance industry, having held senior leadership roles at prestigious organizations such as ICICI Lombard General Insurance and Tata AIG General Insurance. He takes on the role following the retirement of Roopam Asthana.
- 21 Sep
Schneider Electric India to invest Rs 3,200 crore by 2026
Schneider Electric India plans to invest Rs 3,200 crore by 2026 to expand its industrial footprint in the country and focus on sustainable solutions. The company aims to be net-zero in its operations by 2030, carbon neutral by 2040, and net-zero CO2 emissions across its entire value chain by 2050.
Leave a Reply