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21 Feb 2024, Edition - 3144, Wednesday

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IRB Infra Declares Financial Results for Q4 and FY18

by businesswireindia.com

Business Wire India
IRB Infrastructure Developers Ltd. (IRB); India’s leading and one of the largest highways infrastructure developers, today announced its audited financial results for the Q4 and FY18.

The highlights of IRB Infra’s Financial Performance are as follows:

Q4 FY18 v/s. Q3 FY18 v/s Q4 FY17
Particulars Q4FY18
(In Rs. Cr.)
(In Rs. Cr.)
% QoQ Q4FY17
(In Rs. Cr.)
% YoY
1 Total Income 1,432 1,342 7% 1,656 (14%)
2 Profit before tax 384 318 21% 298 29%
3 Net Profit 240 207 16% 207 16%
Note: The drop in YoY Total Income is on account of transfers of 7 projects to InvIT

FY 2018 v/s. FY 2017 
Sr. No. Particulars FY18
(In Rs. Cr.)
(In Rs. Cr.)
% Increase /
1 Total Income 5,863 5,969 (2%)
2 Profit before tax 1,338 984 36%
3 Net Profit 920 715 29%
Note: The drop in YoY Total Income is on account of transfers of 7 projects to InvIT

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “Not only Q4, but the whole of FY18 was stupendous for us at IRB Infra, as it witnessed return of traffic growth, post demonetization and GST, across projects resulting into robust revenue build-up. We successfully listed IRB InvIT and transferred seven projects to it. On construction activities front, Rajasthan projects received appointed dates to commencing tolling and construction simultaneously after achieving financial closure. We also commissioned toll collection on two projects post construction and above all added four new projects to the portfolio, 3 under Hybrid Annuity and one under BOT model. We enter FY19 with strong momentum and more efficient Balance Sheet.”
The highlights of Company’s business performance in FY18 are:
  • Successfully launched and listed India’s first ever InvIT IPO on 18th May 2017 that raised Rs. 5,035 Crores, with an overwhelming response of 8.7 times from Investors.
  • Transferred 7 projects to the IRB InvIT; and, continues with the responsibility of Maintenance Management of these projects through its wholly-owned subsidiary. 
  • Received Rs. 2,200 Crs as consideration from InvIT; holds 16% of Unit Capital in InvIT.   
  • Debt Equity Ratio is reduced substantially from 2.85 in FY17 to approx. 1.87 in FY18; thus witnessing two-notch rating upgrade to A+.   
  • Achieved Financial Closure for all the three – 4 to 6 laning – highway projects in Rajasthan and started tolling after receipt of Appointed Date from the NHAI. 
  • Achieved COD for Kaithal – Rajasthan Border and Solapur – Yedeshi projects.   
  • Bagged four projects totaling up to Rs. 8,930 Cr comprising three Hybrid Annuity Projects and one in BOT space. 

Source: Businesswire