42.1000 -0.03 (-0.07%)
NSE Dec 31, 2025 14:44 PM
Volume: 4.1M
 

42.10
-0.07%
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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