- Total Income for Q1 stands at Rs. 1,583 Crs
- Signed Concession Agreements for all projects bagged in Q4 FY18
Mumbai, July 25, 2018: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest integrated highways infrastructure developers, has posted Net Profit of Rs. 250 Crs; thus, registering growth of 5%, against Rs. 238 Crores in the corresponding quarter of FY 18.
Company’s Net Revenues declined by 15% to Rs. 1,583 Crs, as against Rs. 1,870 Crs in the corresponding quarter of FY18 due to completion of Solapur Yedeshi, and Kaithal Rajasthan projects. Revenue from new projects will commence from H2FY19.
The Company, in line with its dividend policy, alike in the corresponding quarter of FY18, has announced an Interim Dividend of Rs. 2.50 per share on face value of Rs. 10/- each for FY19.
While commenting on Company’s performance, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We had stupendous performance in FY18 which we are taking forward in FY 19 too. Q1 Results as well as the progress made for projects under development and implementation is promising – boosting our confidence towards achieving targeted growth over the next 6 – 7 quarters.”
The highlights of IRB Infra’s Financial Performance are as follows:
Q1 FY 2019 v/s. Q1 FY 2018
|Sr. No.||Particulars||Q1 FY19||Q1 FY18||% Increase /
|1||Net Revenues||Rs.1,583 Crores||Rs. 1,870 Crores
|2||Net Profit||Rs. 250 Crores||Rs. 238 Crores
The highlights of Company’s business performance in Q1 FY19 are:
- Concession Agreements signed for all new projects with NHAI, as mentioned below:
- Six Laning of Hapur bypass to Moradabad section including Hapur bypass on NH 24 (New NH-9) in the State of Uttar Pradesh on DBFOT basis.
- Eight Laning of Vadodara Kim Expressway in the State of Gujarat under Hybrid Annuity.
- Puducherry – Poondiyankuppam and Poondiyankuppam – Sattanathpuram projects in the state of Tamil Nadu.
- In discussions with multiple banks and NBFCs for Financial Closure of all the above projects and confident of achieving it in stipulated timespan.
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 having portfolio of 12,800 lane Kms, including ~ 20% share in India’s ambitious Golden Quadrilateral project; which is largest by any private highways infrastructure developers in India.
Company’s order book as on date stands at more than Rs.14,100 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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