IRB Infrastructure Developers and its sponsored InvITs reported a 16% year-over-year increase in toll revenue for November 2025, reaching ₹716 Crore, compared to ₹618 Crore in November 2024. The company anticipates continued growth driven by healthy GDP expansion and year-end holiday traffic. IRB Infra holds a 14% share in India’s Golden Quadrilateral Project.
Strong Toll Collection Growth
IRB Infrastructure Developers Limited and its sponsored Infrastructure Investment Trusts (InvITs) collectively announced a 16% year-over-year increase in toll revenue for November 2025. The total toll revenue reached ₹716 Crore, a substantial increase from the ₹618 Crore recorded in November 2024.
Key Drivers of Growth
According to Mr. Amitabh Murarka, Dy. CEO of IRB Infra, November showed robust toll collections, outperforming previous months with 16% growth (compared to 9% in October 2025). He anticipates that the strong momentum will continue in Q3 FY26, supported by healthy GDP expansion, the year-end holiday traffic boost, and sustained nationwide economic activity.
Project-Wise Toll Revenue Highlights
Here’s a breakdown of toll revenue for key projects in November 2025:
- IRB MP Expressway Pvt Limited: ₹1,586 Mn
- IRB Ahmedabad Vadodara Super Express Tollway Private Limited: ₹781 Mn
- IRB Golconda Expressway Private Limited: ₹776 Mn
- IRB Lalitpur Tollway Private Limited: ₹374 Mn
- IRB Hapur Moradabad Tollway Limited*: ₹330 Mn
- CG Tollway Limited: ₹351 Mn
*Assets acquired effective from November 1, 2025.
Strategic Investments and Asset Rotation
IRB Infra invested an additional ₹753 Crore through preferential allotment in a recent fund raise by Public InvIT in November 2025. This move was part of an Asset Rotation Strategy, where three assets of Private InvIT were transferred to the Public InvIT effective November 1, 2025.
Company Overview
IRB Infrastructure Developers Ltd (IRB) is India’s first Integrated Multi-National Transport Infrastructure Developer in the Roads & Highways segment, with an asset base of over ₹80,000 Crore across 12 States (including the parent company and two InvITs, excluding TOT 17).
The company has a strong track record, constructing, tolling, operating, and maintaining approximately 19,000 Lane Kms pan India. Upon inclusion of TOT 17, this figure will increase by approximately 1,600 Lane Kms.
IRB Infra has a 14% share in India’s prestigious Golden Quadrilateral Project and a 12% share in India’s North-South highway connectivity. The company’s share in the TOT segment is 33%, which is projected to rise to 42% post TOT-17.
Source: BSE
