IRB Infrastructure Developers Ltd. declared robust financial results for Q3FY26, reporting a 14% YoY growth in Profit After Tax before exceptional items, reaching ₹253 Crores. In a move to reward shareholders, the Board recommended a 1:1 Bonus Share Issue and declared a 3rd Interim Dividend of 7% (₹0.07 per share) for FY26. The company also highlighted the successful monetization of three BOT assets, unlocking significant equity capital.
IRB Records Strong Q3FY26 Performance
IRB Infrastructure Developers Limited announced its financial results for the quarter and nine months ended December 31, 2025. The key highlight from the consolidated results is the Net Profit before exceptional item for Q3FY26, which increased to ₹253 Crores, marking a 14% growth year-over-year. Total Income for the quarter stood at ₹18,711.68 million (or ₹1,871.17 Crores, as per the press release figures).
Shareholder Rewards Approved
The Board of Directors took major decisions concerning shareholder remuneration:
- Bonus Issue Recommendation: Approved the issuance of one new fully paid-up equity share for every one existing equity share held (a 1:1 ratio). This requires increasing the Authorised Share Capital from ₹615 Crore to ₹1,260 Crore, subject to shareholder approval via Postal Ballot. The bonus shares are proposed to be issued out of the Securities Premium Account as of December 31, 2025.
- Interim Dividend Declaration: Declared the 3rd Interim dividend of 7% (₹0.07 per share) for FY2025-26. This brings the total dividend for the first nine months of FY26 to 21%. The record date for this dividend is set for February 19, 2026, with payment due on or before March 14, 2026.
Strategic Capital Recycling Update
Chairman and Managing Director, Shri Virendra D. Mhaiskar, detailed the progress on the company’s capital recycling strategy:
- The group successfully monetized three BOT assets by transferring them from the Private InvIT to the Public InvIT, thereby unlocking equity of ₹4,900 Crores.
- The transfer of the VM7 HAM asset to the Public InvIT was completed, which unlocked equity of ₹513 Crores and facilitated a debt reduction of over ₹700 Crores.
- The unlocked capital is being deployed to fund the equity requirement for two newly acquired TOT assets (TOT-17 and TOT-18), aggregating an enterprise value of approximately ₹14,000 Crores for a 20-year concession period.
Key Related Party Transactions and Re-appointment
The Board also approved several resolutions requiring member consent via Postal Ballot:
- Re-appointment: Recommended the re-appointment of Mrs. Deepali V. Mhaiskar (DIN: 00309884) as Whole Time Director effective May 19, 2026.
- Project Management Agreement: Approved a Material Related Party contract for the Company to act as the Project Manager for the TOT-18 Project (IRB Chandibhadra Tollway Private Limited – Project SPV), with an estimated aggregate value of up to ₹1,581.83 crore (approx. ₹1,866.55 crore including GST).
Segment Performance Snapshot (Consolidated)
The performance was largely driven by the core toll road operations:
- The Group registered approximately 12% rise in aggregate toll revenue (₹2,152 Crores in Q3FY26 vs. ₹1,917 Crores in Q3FY25).
- The BOT/TOT Projects segment revenue for the quarter stood at ₹7,065.51 million.
- The Construction segment revenue for the quarter was ₹7,806.37 million.
Standalone Financial Highlights (Q3FY26)
The standalone results also showed positive momentum:
- Standalone Revenue from services for Q3FY26 was ₹7,154.66 million.
- Standalone Net Profit after tax for the quarter ended December 31, 2025, was ₹2,785.63 million.
Source: BSE
