IRB Posts Net Profit Rs. 238 Crs for Q1 – FY 2018; and declares Interim Dividend of Rs. Rs. 2.50 Per Share

• Board approves offering of Pathankot – Amritsar project to IRB InvIT Fund.
  

• Net Profit ups 31% to Rs. 238 Crs, as against Rs. 182 Crs in Q1 – FY17
  

• Total Income ups 21% to Rs. 1,870 Crs against Rs. 1,548 Crs in Q1 – FY17

Mumbai, July 24, 2017: IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, today announced its unaudited financial results for the first quarter of FY 2017-18, ended on 30^th June 2017.

The highlights of Financial Performance are:

Q1 FY 2018 v/s. Q1 FY 2017            

• The Company declared Interim Dividend of Rs.2.50 per share for FY 2018

Sr. No.	Particulars	Q1 FY18	Q1 FY17	% Increase / (Decrease)
1	Total Income	Rs. 1,870 Crores	Rs.1,548.00 Crores	21%
2	Net Profit	Rs. 238 Crores	Rs.182.00 Crores	31%

 

• The Company declared Interim Dividend of Rs.2.50 per share for FY 2018

While commenting on the performance, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “The quarterly results are portraying our capabilities and efficiency levels in managing Large Projects portfolios. We would continue to perform well and grow in the best interests of our Stakeholders.”

Further, the Board of Directors today approved an offer for sale of Company’s 100% equity stake in IRB Pathankot Amritsar Toll Road Private Limited, an SPV that manages the Pathankot – Amritsar project in Northern India, to the IRB InvIT Fund.

While commenting on this development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “The offer of sale is as per the Deed of Right of First Offer and Right of First Refusal executed by the Company with the Fund on May 9, 2017 and will be subject to approvals of concern authorities. If everything goes well, we expect to complete the transaction probably by end of next quarter of FY 2018.”

The highlights of quarterly performance are:

• Successfully launched and listed India’s first ever InvIT IPO on 18^th May 2017 that raised Rs.5035 Crores, post overwhelming response of 8.7 times from Investors.

• Transferred 6 projects to the IRB InvIT; however, continues with the responsibility of Maintenance Management of these projects through its wholly owned subsidiary.

• Received Rs. 1700 Crore as consideration from InvIT; holds 15% of Unit Capital in InvIT.

• Debt Equity Ratio is reduced substantially from 3:1 to approx. 1.8:1; thus to lead credit rating upgrade for the Company.

• Construction Order Book stands at approx. Rs. 8900 Crores at the end of Q1 – FY 2018

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India.

The Company at present is having 7operational projects under BOT space post InvIT; 6 projects under O & M contracts and 8 projects under various stages of construction.

IRB, in the 10^th year of its journey towards excellence post listing, has achieved an unmatchable milestone of around 12,000 lanes Kms, along with near 20% share in India’s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.

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.

 For further details, please contact:

• Vivek Devasthali, Head – Corporate Communications, 99300 80099, devasthali@irb.co.in
• Shahab Shaikh, Concept PR, 93208 97525, shahab@conceptpr.com