IRB Infrastructure Developers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2018

1. The Company is engaged in the business of road infrastructure development. The Company secures contracts by submitting bids in response to tenders, in terms of which it is required to form Special Purpose Vehicle ("SPV") companies to execute the awarded projects. These are its subsidiary companies. As at March 31, 2018, it has 7 operational Built Operate Transfer ("BOT") projects. In so conducting its business, its revenues include income from road infrastructure projects, dividends from its subsidiaries/ mutual funds and income.

2. As permitted by paragraph 4 of Ind AS 108, "Operating Segments", notified under section 133 of the Companies Act, 2013, read together with the relevant rules issued thereunder, if a single financial report contains both consolidated financial statements and the separate financial statements of the parent, segment information need to be presented only on the basis of the consolidated financial statements. Thus, disclosure required by Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on segment wise revenue results and capital employed are given in consolidated financial results.

3. The audited results for the year ended March 31, 2018 have been reviewed by the Audit Committee at their meeting held on May 3, 2018 and thereafter approved by the Board of Directors at their meeting held on May 3, 2018.

4. Figures for the quarter ended March 31, 2018 and the corresponding quarter ended in the previous year as reported in this financial result are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the relevant financial year. Also the figures upto the end of the third quarter had only been reviewed and not subjected to audit.

5. In accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Statutory Auditors of the Company have carried out annual audit of the above results. The joint statutory auditors have expressed an unqualified annual audit opinion.

6. Consequent to the issuance of "Guidance Note on Division II - Ind AS Schedule III to the Companies Act, 2013", certain items of financial results have been regrouped/ reclassified.

Virendra D. Mhaiskar
Chairman and Managing Director