HomeInfraIRB Infra CFO says executable order book is at ₹10,000 crore for...

IRB Infra CFO says executable order book is at ₹10,000 crore for next two years


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With the incorporation of two new toll-operate-transfer (TOT) assets into their portfolio, IRB Infrastructure Developers’ now has an executable order book of around ₹10,000 crore for the next two years.

This includes an engineering, procurement, and construction (EPC) order book of 7,000 crore with the balance in operation and maintenance (O&M), Tushar Kawedia, Group CFO of the company said in an interview with CNBC-TV18.

The total order book was at 36,185 crore as of December 2023.

IRB’s toll revenue jumped 30% year-on-year (YoY) to 481 crore for March 2024.

“The new assets from the National Highways Authority of India (NHAI) side, TOT 12 and TOT 13, which commenced operations on April 1, will start contributing to the toll collections in the next year. We expect a good robust growth further for FY25 as well,” he added.

He expects revenue growth of around 10-11% this financial year (FY25).

Also Read | IRB Infrastructure shares surge 18% in two days; more steam left?

IRB Infra also has a good pipeline of orders from NHAI in the build-operate-transfer (BOT) space.


2 lakh crore worth of assets is expected to come for bidding in the next one and a half to two years. We are quite confident to get a couple of them,” Kawedia said.

In March, IRB Infrastructure Developers announced that Cintra, a transport infrastructure developer and subsidiary of the Spanish infrastructure group Ferrovial, has acquired a 24% stake in IRB Infrastructure Trust from GIC Affiliates for 6,590 crore.

The acquisition, finalised through a definitive agreement, also encompassed a 24% stake in MMK Toll Road, the investment manager of the Trust.

Kawedia said the deal happened at the private infrastructure investment trusts (InvIT) level where the stake was acquired from GIC Affiliates.

Also Read | IRB Infra shares rally 10% after Kotak Institutional cites strong balance sheet for upgrade

On April 8, brokerage firm CLSA retained its buy rating on the IRB stock while raising the target price to ₹81 apiece from ₹63.

CLSA believes IRB, which is India’s leading toll platform, has steam left in re-leveraging its equity.

The current market capitalisation of the company is 41,161.82 crore.

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