Roads & Highways company IRB Infrastructure Developers announced Q4FY23 & FY23 results: Consolidated Income for FY23 rises 5% YoY to Rs 6,703 crore FY23 PAT doubles YoY to Rs 720 crore Declares 2nd Interim Dividend of 7.5% on face value of equity share of Re 1/- each Q4FY23 PAT is Rs 130 crore; Consolidated Income is Rs 1,699 crore Toll revenue including Private InvIT SPVs, in FY23 was 40% higher YoY Toll collection through FASTag crossed 95% mark Construction commenced on Ganga Expressway and Palsit Dankuni BOT projects; and Chittoor Thachur and Pathankot Mandi HAM project Bagged Samakhiyali to Santalpur 6 laning BOT project of 90.90 kms stretch on NH27 with cost outlay of Rs 2,132 crore in the State of Gujarat Completed re-financing of 3 BOT assets under Company’s private InvIT through redeemable non-convertible debentures issued on private placement basis, thereby cashflow saving of Rs 550 crore over the period of 5 years Transferred Vadodara Kim HAM project, which is part of New Delhi Mumbai 8 Lanes Greenfield Expressway and realised 1.2 times of equity invested, to the IRB InvIT Fund, a listed Public InvIT sponsored by the Company Commenting on the occasion, Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers said, “We experienced vibrant FY23 on all fronts. We bagged new BOT project; started construction of two BOTs and a HAM project; achieved CODs for couple of BOT projects; and witnessed robust growth in toll collection. To add, we transferred a HAM project to the public InvIT; saw investments coming in from our global partner for prestigious Ganga Expressway; we facilitated equity share split to enhance interest of small investors, etc.” He further added, “FY24 looks to be promising, as we had 19% toll revenue growth in first month itself; got another TOT project, taking our share in TOT space to ~37%, the largest by any player in the sector. We expect to continue growth momentum throughout the year.” Result PDF