Shares of IRB Infrastructure Developers hit a 52-week high of Rs 40.95 on 8 December after the company reported a 20% year-on-year growth in gross toll collection in November.
In its regulatory filing, the company reported that its toll collection reached Rs 437.05 crore in November 2023 against the Rs 366 crore toll collected in the same month last year.
The increase in toll came despite the softened economic activities on account of festival holidays during the month.
Amitabh Murarka, Deputy CEO of the company, said, “We have witnessed a continued rise in toll collection, despite Diwali holidays, which briefly slowed down the momentum of economic activities for almost a week.”
He added, “Overall, it’s promising to see the persistent growth momentum gained in the first eight months of FY24. The second half of the year is always better from a toll collection perspective; accordingly, we expect the growth momentum to continue.”
Amongst the company’s various projects and special purpose vehicles, the Old Mumbai Pune Highway, the Mumbai Pune Expressway, Ahmedabad Vadodara Expressway, and Hyderabad Outer Ring Road contributed the highest toll collections.
At 10:59 am, the shares of IRB Infrastructure Developers were trading 3.12% higher at Rs 39.65 on NSE.
