NSE: IRB | BSE: 532947

Strong Performer, Under Radar

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49.62 -0.05 (-0.10%)

31.08% Fall from 52W High

15.9M NSE+BSE Volume

NSE 02 Jul, 2025 3:31 PM (IST)

29,965.5

Market Cap

Market Leader

1.6

Beta 1Year

Very High Volatility

IRB Infrastructure Developers Ltd. share price target and research reports

Name: Latest research reports of IRB Infrastructure Developers Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: IRB Infrastructure Developers Ltd.
Rating: 5
Author: HDFC Securities

Latest analyst research reports with target prices and PDF download for IRB, BSE:532947 IRB Infrastructure Developers Ltd.

IRB Infrastructure Developers Ltd.

29 May 2019

49.62

-0.10%

IRB Infrastructure Developers (4QFY19): Ordering awaited. Maintain BUY

Buy: IRB Infrastructure Develop...

Target

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 decreased from 216 to 209 in Mar 2025 qtr

IRB Infrastructure Developers Ltd.

28 May 2019

49.62

-0.10%

IRB Infra

Hold: IRB Infrastructure Develop...

Sharekhan

by 41% y-o-y to Rs. 1,948 crore, led by strong growth in construction income (up 59.1% y-o-y) and healthy BOT revenue (up 8.7% y-o-y). Barring Ahmedabad Vadodara (toll revenue up 12% y-o-y) and Kaithal Rajasthan (up 39.1% y-o-y), like-to-like comparison of BOT portfolio shows a decline of 2.6% y-o-y (down 1.3% y-o-y). Management attributes slower growth in toll...

Number of MF schemes increased from 20 to 27 in Mar 2025 qtr.

IRB Infrastructure Developers Ltd.

28 May 2019

49.62

-0.10%

Better-than-expected performance; lower executable order book to

Neutral: IRB Infrastructure Develop...

Target

Motilal Oswal

(ahead of our est. of INR7.3b) with margins shrinking 8.7pp YoY to 39% due to contraction in Construction margins (21.4% v/s 26.8% in 4QFY18). Adjusted profit declined 13% YoY to INR2.1b (below our est. of INR2.2b). EPC revenue growth dependent on BoT/HAM projects' appointed date: EPC revenue for FY19 grew 20% YoY to INR45.3b, with EBIDTA growth of 2% YoY to INR11.1b. For FY20, IRB expects EPC revenue to grow 30-35% YoY (INR61b at upper end of guidance); we believe this is heavily dependent on availability of the four BoT/HAM projects for which appointed date is still...

Promoters pledged 0.03% of shares in last quarter. Total pledge stands at 55.45% of promoter holdings

IRB Infrastructure Developers Ltd.

05 Feb 2019

49.62

-0.10%

IRB Infrastructure Developers (3QFY19): In line performance. Maintain BUY

Buy: IRB Infrastructure Develop...

Target

HDFC Securities

Maintain BUY with a reduced SOTP based TP of Rs 246/sh (EPC standalone at 7.5x Dec-20E EPS and ~60% discount to peers). IRBs 3QFY19 Revenue/EBIDTA/PAT were 7/5/7% ahead of our estimates at Rs 17.9/7.6/2.2bn. EPC margin witnessed a 612bps YoY drop led by ~Rs 1bn of revenue from utility shifting (with negligible margins) and ~150-200bps impact of increase in raw material costs.

Promoters pledged 0.03% of shares in last quarter. Total pledge stands at 55.45% of promoter holdings

IRB Infrastructure Developers Ltd.

05 Feb 2019

49.62

-0.10%

IRB Infrastructure

Hold: IRB Infrastructure Develop...

Target

ICICI Securities Limited

IRB Infrastructure's (IRB) topline grew 38.0% YoY to | 1788.5 crore (our estimate: | 1604.2 crore) on account of strong growth in construction and toll revenues. Construction revenues grew 54.9% YoY to | 1253.3 crore on account of strong execution. Toll revenues have grown 21.7% YoY to | 531.6 crore EBITDA margin declined sharply by 611 bps YoY to 42.5% (our estimate: 48.0% mainly due to lower margin in the construction division. The construction division margins (including other income)...

IRB Infrastructure Developers Ltd. is trading above its 100 day SMA of 48.0

IRB Infrastructure Developers Ltd.

04 Feb 2019

49.62

-0.10%

Better than estimated performance led by ahead of estimate execution

Neutral: IRB Infrastructure Develop...

Target

Motilal Oswal

4 February 2019 by a healthy 38% YoY to INR17.9b (ahead of our estimate of INR15.4b), supported by strong growth in construction revenue (+51% YoY to INR12.5b) and an increase in BoT revenue (+16% YoY to INR5.3b). Operating profit grew 13% YoY to INR7.6b (ahead of our estimate of INR7.2b), with margin shrinking 950bp YoY to 42.5% due to contraction in Construction margins (24.5% v/s 29.4% in 3QFY18). Adjusted profit at INR2.2b (-13% YoY) was ahead of our estimate of INR2.0b. Toll revenue from continuing projects came in at INR5.

Number of MF schemes increased from 20 to 27 in Mar 2025 qtr.

IRB Infrastructure Developers Ltd.

01 Nov 2018, 12:00AM

49.62

-0.10%

IRB Infrastructure

Hold: IRB Infrastructure Develop...

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research IRB Infrastructure's (IRB) topline grew 27.6% YoY to | 1432.3 crore (our estimate: | 1511.5 crore) on account of strong growth in construction and toll revenues. The construction revenues grew...

IRB Infrastructure Developers Ltd. is trading below its 30 day SMA of 50.5

IRB Infrastructure Developers Ltd.

30 Oct 2018, 11:10PM

49.62

-0.10%

IRB Infrastructure Developers (2QFY19): Strong outperformance. Maintain BUY

Buy: IRB Infrastructure Develop...

Target

HDFC Securities

Maintain BUY with SOTP of Rs 256/sh (EPC at EPC standalone at 7.5x Mar-20E EPS and ~60% discount to peers). IRBs 2QFY19 Revenue, EBIDTA and PAT came in 17/ 30/62% ahead of our estimates at Rs 14.3/6.7/1.7bn. 2QFY19 toll revenues (affected by 8 days of transport strike) were 5.3% lower QoQ (post adj. for exempt Rs 96mn claim in 1QFY19).

IRB Infrastructure Developers Ltd. is trading below its 30 day SMA of 50.5

IRB Infrastructure Developers Ltd.

27 Jul 2018

49.62

-0.10%

IRB Infrastructure

Hold: IRB Infrastructure Develop...

Target

ICICI Securities Limited

Promoters pledged 0.03% of shares in last quarter. Total pledge stands at 55.45% of promoter holdings

IRB Infrastructure Developers Ltd.

25 Jul 2018

49.62

-0.10%

IRB Infrastructure Developers (1QFY19): On track to achieve 100/10. Maintain BUY

Buy: IRB Infrastructure Develop...

HDFC Securities

Maintain BUY with SOTP of Rs 328/sh. IRBs 1QFY19 Revenue, EBIDTA and PAT were 1.0/6.0/11.2% ahead of our estimates at Rs 15.4/7.5/2.5bn. BOT revenue (adjusting for claim of Rs 96.0mn) grew 6.3% QoQ despite an early onset of monsoons impacting the traffic across projects.

Promoters pledged 0.03% of shares in last quarter. Total pledge stands at 55.45% of promoter holdings

Is IRB Infrastructure Developers Ltd. worth buying?

913 Votes:

Buy 81.49%

Sell 7.12%

Hold 11.39%