Date: August 10, 2026
Operational Performance
IRB Infrastructure Developers Limited reported gross toll collection of ₹7,977 million for July 2026, representing a significant increase from ₹6,329 million in July 2025, reflecting approximately 26% year-on-year growth.
Project-wise Toll Revenue Details (₹ millions)
The toll revenue breakdown across 25 project SPVs shows varied performance:
Wholly-owned Subsidiaries:
- IRB MP Expressway Pvt Limited: ₹1,577 (July 2026) vs ₹1,476 (July 2025)
- IRB Ahmedabad Vadodara Super Express Tollway Private Limited: ₹763 vs ₹675
IRB Infrastructure Trust (Private InvIT) Entities:
- CG Tollway Limited: ₹350 vs ₹331
- Udaipur Tollway Limited: ₹291 vs ₹266
- Palsit Dankuni Tollway Private Limited: ₹224 vs ₹189
- AE Tollway Limited: ₹229 vs ₹211
- Yedeshi Aurangabad Tollway Limited: ₹248 vs ₹214
- IRB Westcoast Tollway Limited: ₹122 vs ₹105
- Solapur Yedeshi Tollway Limited: ₹133 vs ₹112
- IRB Golconda Expressway Private Limited: ₹858 vs ₹709
- Samakhiyali Tollway Private Limited: ₹121 vs ₹119
- IRB Lalitpur Tollway Private Limited: ₹446 vs ₹346
- IRB Kota Tollway Private Limited: ₹66 vs ₹65
- IRB Gwalior Tollway Private Limited: ₹129 vs ₹102
New Projects Commenced in 2026:
- IRB Harihara Corridors Private Limited: ₹514 (commenced toll collection from January 23, 2026)
- IRB Chandibhadra Tollway Private Limited: ₹204 (commenced toll collection from April 1, 2026)
- Meerat Budaun Expressway Private Limited: ₹121 (commenced toll collection from May 17, 2026)
IRB InvIT Fund (Public InvIT) Entities:
- IRB Tumkur Chitradurga Tollway Limited: ₹380 vs ₹352
- IRB Pathankot Amritsar Toll Road Limited: ₹138 vs ₹123
- IRB Jaipur Deoli Tollway Limited: ₹180 vs ₹157
- M.V.R. Infrastructure & Tollways Limited: ₹156 vs ₹144
- IRB Talegaon Amaravati Tollway Limited: ₹80 vs ₹73
- IRB Hapur Moradabad Tollway Limited: ₹300 vs ₹230
- Kaithal Tollway Limited: ₹118 vs ₹109
- Kishangarh Gulabpura Tollway Limited: ₹229 vs ₹221
Management Commentary
Shri Amitabh Murarka, Deputy CEO, stated that the strong toll revenue performance reflects the inherent strength of the expanded assets portfolio and sustained economic activity across their corridors. He attributed the growth to healthy traffic growth, addition of new TOT and BOT assets, and tariff revision at the beginning of the year. The company plans to continue following a disciplined capital allocation strategy, focusing on acquiring high-quality assets and creating sustainable, long-term value for stakeholders.
Company Background
IRB Group is India's leading and largest integrated infrastructure assets platform in the roads and highways sector, with a current portfolio of 28 revenue-generating highway assets aggregating to approximately ₹940 billion across 13 Indian states. The group accounts for nearly one-tenth of India's total toll revenue with approximately 1.5 million vehicle crossings daily across its assets.
The group has a weighted average residual concession life of approximately 21 years and aims to expand its asset base to approximately ₹1,400 billion by FY2029 through asset churn strategy and reinvesting proceeds into new opportunities.
InvIT Structure Details
IRB Infrastructure Trust (Private InvIT): Operates 14 highway assets with 10,674 Lane Kms and Enterprise Value of approximately ₹66,000 crores across 10 states. Weighted Average Life: 20+ years. Listed on NSE under ticker "IRBIT".
IRB InvIT Fund (Public InvIT): Operates 10 highway assets (8 BOT and 2 HAM projects) with 4,445 Lane Kms and Enterprise Value of approximately ₹17,600 crores across 8 states. Weighted Average Life: 18+ years. Listed on NSE & BSE under tickers "IRBN" and "IRBINVIT".
Not Specified Sections
No material disclosures under the following sections: Financial Results, Dividend Declaration, KMP/Board/Auditor Changes, Board Meeting Outcomes, Auditor's Report, Disinvestment/Strategic Actions.