Key Financial Performance

Gross Toll Revenue Performance:

  • September 2026 Total Toll Revenue: ₹7,725 million (₹773 crores)
  • September 2025 Total Toll Revenue: ₹6,223 million (₹622 crores)
  • Year-over-Year Growth: Approximately 24%

Project-Wise Toll Revenue Breakdown (₹ in millions)

The disclosure provides detailed revenue figures for 24 project special purpose vehicles (SPVs) across different relationship categories:

Wholly-owned Subsidiaries:

  • IRB MP Expressway Private Limited: ₹1,621 (Sep 2025: ₹1,396)
  • IRB Ahmedabad Vadodara Super Express Tollway Private Limited: ₹795 (Sep 2025: ₹666)

IRB Infrastructure Trust (Private InvIT) Entities:

  • CG Tollway Limited: ₹338 (Sep 2025: ₹339)
  • Udaipur Tollway Limited: ₹285 (Sep 2025: ₹259)
  • Palsit Dankuni Tollway Private Limited: ₹226 (Sep 2025: ₹210)
  • AE Tollway Limited: ₹222 (Sep 2025: ₹222)
  • Yedeshi Aurangabad Tollway Limited: ₹220 (Sep 2025: ₹227)
  • IRB Westcoast Tollway Limited: ₹130 (Sep 2025: ₹114)
  • Solapur Yedeshi Tollway Limited: ₹121 (Sep 2025: ₹116)
  • IRB Golconda Expressway Private Limited: ₹812 (Sep 2025: ₹704)
  • Samakhiyali Tollway Private Limited: ₹114 (Sep 2025: ₹103)
  • IRB Lalitpur Tollway Private Limited: ₹425 (Sep 2025: ₹371)
  • IRB Kota Tollway Private Limited: ₹61 (Sep 2025: ₹65)
  • IRB Gwalior Tollway Private Limited: ₹126 (Sep 2025: ₹108)

New Projects Commenced in 2026:

  • IRB Harihara Corridors Private Limited: ₹493 (commenced toll collection January 23, 2026)
  • IRB Chandibhadra Tollway Private Limited: ₹204 (commenced toll collection April 1, 2026)
  • Meerut Budaun Expressway Limited: ₹131 (commenced toll collection May 17, 2026)

IRB InvIT Fund (Public InvIT) Entities:

  • IRB Tumkur Chitradurga Tollway Limited: ₹375 (Sep 2025: ₹337)
  • IRB Pathankot Amritsar Toll Road Limited: ₹139 (Sep 2025: ₹124)
  • IRB Jaipur Deoli Tollway Limited: ₹166 (Sep 2025: ₹159)
  • IRB Talegaon Amaravati Tollway Limited: ₹75 (Sep 2025: ₹70)
  • Kaithal Tollway Limited: ₹123 (Sep 2025: ₹115)
  • Kishangarh Gulabpura Tollway Limited: ₹222 (Sep 2025: ₹229)
  • IRB Hapur Moradabad Tollway Limited: ₹301 (Sep 2025: ₹289)

Management Commentary

Shri Amitabh Murarka, Deputy CEO of IRB Infrastructure Developers Limited, commented that the September 2026 toll revenue reflects healthy traffic growth driven by enhanced economic activity across the country, further supported by commencement of the festive season. He stated that sustained economic momentum, coupled with the onset of Navaratri and Diwali festivities and holiday season, is expected to support continued traffic growth and improved toll revenues across the portfolio in coming months.

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 27 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 portfolio has a weighted average residual concession life of approximately 21 years.