42.1300 0.51 (1.23%)
NSE Dec 30, 2025 15:31 PM
Volume: 6.3M
 

42.13
1.23%
HDFC Securities
Despite a challenging environment (liquidity crunch faced by NBFCs and a few PSUs), IRB has managed to successfully get financial closures for all its projects. With Mumbai Pune BOT set to end in 2QFY19, further delays in appointed dates for the 2 Kerala HAMs will lead to a pressure on consolidated revenue. To maintain revenue visibility it is extremely crucial that IRB replenishes its backlog in the next round of BOT/HAM tendering. We maintain BUY. Key risks (1) Delay in toll revenue pickup, (2) Banks aversion to BOT/HAM funding, (3) High interest rate, and (4) Delay in appointed dates. We maintain BUY with a TP of Rs 212/Sh. We have made minor +1.2/1.7% change to consolidated FY20/21E EPS.
Number of FII/FPI investors increased from 210 to 217 in Sep 2025 qtr.
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