IRB Infra declares financial results for Q4 and FY 18

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  • Q4 Net Profit rises 16% QoQ to Rs. 240 Crs
  • FY 18 Net Profit rises 29% YoY to Rs. 920 Crs
  • Total Income for Q4 stands at Rs. 1,432 Crs; for FY18 at Rs. 5,683 Crs

Mumbai, May 3, 2018: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, today announced its audited financial results for the Q4 and FY18.

The highlights of IRB Infra’s Financial Performance are as follows:

Q4 FY18 v/s. Q3 FY18 v/s Q4 FY17            

Sr.

No.

Particulars Q4FY18

(In Rs. Cr.)

Q3FY18

(In Rs. Cr.)

% QoQ Q4FY17

(In Rs. Cr.)

% YoY
1 Total Income 1,432 1,342 7% 1,656 (14%)
2 Profit before tax 384 318 21% 298 29%
3 Net Profit 240 207 16% 207 16%

Note: The drop in YoY Total Income is on account of transfers of 7 projects to InvIT

FY 2018 v/s. FY 2017           

Sr. No. Particulars FY18

(In Rs. Cr.)

FY17

(In Rs. Cr.)

% Increase /

(Decrease)

1 Total Income 5,863 5,969 (2%)
2 Profit before tax 1,338 984 36%
3 Net Profit 920 715 29%

Note: The drop in YoY Total Income is on account of transfers of 7 projects to InvIT

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “Not only Q4, but the whole of FY 18 was stupendous for us at IRB Infra, as it witnessed return of traffic growth, post demonetization and GST, across projects resulting into robust revenue build-up. We successfully listed IRB InvIT and transferred seven projects to it. On construction activities front, Rajasthan projects received appointed dates to commencing tolling and construction simultaneously after achieving financial closure. We also commissioned toll collection on two projects post construction and above all added  four new projects to the portfolio, 3 under Hybrid Annuity and one under BOT model. We enter FY19 with strong momentum and more efficient Balance Sheet.”

The highlights of Company’s business performance in FY18 are:

  • Successfully launched and listed India’s first ever InvIT IPO on 18th May 2017 that raised Rs.5,035 Crores, with overwhelming response of 8.7 times from Investors.
  • Transferred 7 projects to the IRB InvIT; and, continues with the responsibility of Maintenance Management of these projects through its wholly owned subsidiary.
  • Received Rs. 2,200 Crs as consideration from InvIT; holds 16% of Unit Capital in InvIT.
  • Debt Equity Ratio is reduced substantially from 2.85 in FY17 to approx. 1.87 in FY18; thus witnessing two notch rating upgrade to A+.
  • Achieved Financial Closure for all the three – 4 to 6 laning – highway projects in Rajasthan and started tolling after receipt of Appointed Date from the NHAI.
  • Achieved COD for Kaithal – Rajasthan Border and Solapur – Yedeshi projects.
  • Bagged four projects totaling up to Rs 8,930 Cr comprising three Hybrid Annuity Projects and one in BOT space.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is India’s leading and one of the largest private roads and highways infrastructure developers, with presence in BOT and HAM space.

The Company has a portfolio of 17 owned projects and 7 projects under O&M contracts as a Project manager for IRB InvIT. Of the 17 owned projects, 7 projects are under operational BOT space; 3 under HAM space; 4 projects under Tolling & Construction, another 2 projects under advanced stages of construction and 1 project under development stage. The Company has successfully completed 7 Concessions till date.

IRB Group, in the 20th year of its journey towards excellence since inception, has achieved an unmatchable milestone of crossing 12,000 lane Kms, along with almost 20% share in India’s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.

Company’s construction order book as on date stands at more than Rs.15,000 Crores.

IRB Infrastructure Developers Ltd. is India’s first Infrastructure developer Company to have privilege of successfully launching and listing of India’s first ever InvIT IPO and also transferring 7 projects under the same. The Company was recently conferred on the prestigious ‘FinanceAsia – Best India Deal – Achievement Award 2017’ at Hong Kong.

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