INSUBCONTINENT EXCLUSIVE:
IRB Infrastructure Developers on Friday reported a 27 per cent decline in consolidated profit after tax (PAT) at Rs 159.73 crore for the
quarter ended December 2019
The infrastructure company had clocked a consolidated PAT of Rs 218.90 crore for the corresponding period a year-ago, it said in a
regulatory filing to the BSE.
Total income for the quarter declined to Rs 1,790.17 crore as against Rs 1,835.02 crore in the year-ago
period.
Total expenses increased to Rs 1,534.36 crore, from Rs 1,446.82 crore earlier.
The company's Chairman and Managing Director
Virendra D Mhaiskar said, "Our execution pace continues to be strong and the quarter marked a return of traffic growth - presumably led by
slight pick-up in economic activity across India
With Goa Kundapur project getting commissioned, all of our projects are now revenue generating."
He added the company is expecting closure
of deal with GIC affiliates soon and also a decision on the Mumbai-Pune expressway project.
"Also, we are keenly evaluating a large pipeline
of upcoming bids, comprising approx
Rs 10,000 cr TOT (toll-operate-transfer), Rs 26,000 cr BOT (build-operate-transfer) and Rs 48,000 cr HAM (hybrid annuity model) projects,
expected to be awarded over the next 1-3 quarters," Mhaiskar said.
The company said it has received provisional completion certificate for
Goa/Karnataka Border-Kundapur four-laning project on NH-17 and has started tolling.
All approvals for transferring nine road assets to the
IRB Infrastructure Trust are in place, the statement said
The company has emerged as the single bidder for prestigious Mumbai-Pune Expressway TOT project and is awaiting final outcome from the
authorities.
Toll collection has seen a growth of 9 per cent QoQ for ongoing concessions.
IRB Infrastructure Developers Ltd (IRB) is a
private roads and highways infrastructure developer having a track record of constructing over 12,600 lane kms in two decades.