What we do IRB Infrastructure Trust owns and operates 15 toll-road assets across India, managing nearly 9,790 lane kilometers under long-term concessions with National Highway Authority of India. |
Founded in 2,019 |
Market share Among leading infrastructure investment trusts in India, managing assets valued over Rs 51,979 crore with extensive toll-road portfolio. |
Problem solved Provides critical highway infrastructure funding and efficient toll-road operations enhancing connectivity, traffic management, and road maintenance across multiple states. |
Top clients or who we serve Serves government authorities under concession agreements and toll-paying public; operates as B2G and B2C in the highways sector. |
Key management Mr. Amitabh Murarka (CEO of Investment Manager), Mr. Virendra D. Mhaiskar (Chairman of Sponsor IRB Infrastructure Developers Limited) |
Our journey and innovations Listed on NSE in 2023 with continuous asset acquisitions and tolling expansions, including recent TOT projects and mega expressway development. |
Where we operate Operates toll roads in Maharashtra, Gujarat, Uttar Pradesh, Rajasthan, Karnataka, Haryana, West Bengal, Telangana, Madhya Pradesh, and Goa. |
Top products or what we offer Portfolio comprises 15 toll-road assets including Four and Six Laning Projects and major BOT/TOT concessions with robust long-term contracts. |
Top brands Key project assets include Agra Etawah, Hyderabad Outer Ring Road, Ganga Expressway, Lalitpur Lakhnadon, and Kaithal Tollway among others. |
Raw materials needed Not applicable as business focuses on infrastructure asset ownership and operations rather than raw materials. |
Raw materials supplier Not applicable. |
Recurring vs cyclical contribution Majority of revenue is recurring through long-term toll collection under BOT/TOT and HAM contracts. |
Our industry position Top-tier InvIT with strong asset base and sector leadership in Indian road transportation infrastructure financing and operations. |
Financial highlights Revenue Rs 5,335 million, net loss Rs 308 million in FY 2024-25; asset value Rs 3,56,321 million; gearing ratio 126.7% consolidated. |
Geographical revenue split Revenue predominantly from multiple Indian states, each hosting major toll-road assets under management. |
Order book Active toll collection across 15 assets with ongoing construction in select BOT projects; recent asset acquisitions expanding portfolio. |
Whats driving growth Government infrastructure projects, BOT/TOT model adoption, strategic acquisitions, and highway traffic growth fuel expansion. |
Our future plans Completion of under-construction projects, further asset acquisitions, strategic divestments, and expanding toll operation capabilities. |
Our green promise Focuses on sustainable infrastructure development and maintenance enhancing road safety and reducing congestion-related emissions. |
Our people and values Governed by experienced leadership; emphasis on compliance, transparency, and investor relations with regulated disclosures. |
Key challenges ahead Managing high leverage, regulatory compliance, toll rate adjustments, and execution risks in large infrastructure projects. |
Interesting facts Largest multi-state toll infrastructure InvIT in India; listed only since 2023 but rapidly expanded with over ten acquisitions and TOT contracts. |
Risks and strategy Mitigates regulatory, traffic volume, and financial risks via diversified assets, strong sponsor backing, and prudent capital management. |
