Promising Start to FY22 for IRB Infra; Company posts Q1 FY22 PAT at Rs.72 Crs, Consolidated Income at Rs.1,670 Crs Achieved full COD for Udaipur Shamlaji BOT Project that ups the user fee by 55%; thus, increased toll collection for the Asset Completed fund raise of Rs.381.63 Crs for IRB Infrastructure Trust, the Private InvIT, by way of Right Issue Won arbitration award of Rs.252.25 Crs plus interest for Pathankot Amritsar project towards time and cost overrun suffered NHAI approves cash compensation and extension in Concession period for toll loss due to farmers’ agitation in line with Concession Agreement The highlights of business performance for Q1FY22 are: Raised Rs.381.63 Crs for its Private InvIT by way of Rights Issue. Achieved full COD for Udaipur – Shamlaji BOT project in Rajasthan that made the Company eligible for recovering user fees at full rate; thus, increasing the same by 55%. Won arbitration claim of Rs.252.25 Crs plus interest for Pathankot Amritsar project towards time and cost overrun suffered on account of reasons not attributable to EPC Contractor. NHAI approves cash compensation and extension in Concession period for toll loss due to farmers' agitation in line with Concession Agreement The FASTag penetration for IRB Group crossed 92%; with strong push for a 100% conversion to FASTag by the Government. Significant improvement in construction pace with eased lockdowns. Company also facilitated Vaccination for its more than 60% frontline workers. Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We continue to tread ahead and overcome challenges posed by the pandemic. Q1FY22 was impacted due to COVID-19 second wave in April and May, albeit at softer level than the first. Strong resilience has been visible June onwards, with a pick-up in economic activities; and we now look forward to a better and stronger FY22.” He further said, “We also raised Rs 382cr via right issue for our Private InvIT; achieved full COD for Udaipur – Shamlaji BOT Project in Rajasthan; won arbitration award as the EPC Contractor for Pathankot Amritsar project; and received clarity on cash compensation and extension for projects suffering from Farmer’s agitation – all in all, we are marching ahead firmly and strongly on the growth path.” Result PDF