On June 9, IRB Infrastructure Developers’ shares surged 4% in the early morning trade after the firm clocked a year-on-year growth of 20% in toll collection at Rs 411 crore in May 2023. Toll collections were estimated at Rs 343 crore in the year-ago period.

At 9.39 am, shares of the combined multinational infrastructure performer in the highways sector rose 1.9% on the BSE at Rs 28.5.

The company’s Chairman and Managing Director, Virendra D Mhaiskar, said that post-April 2023 toll collection front, it seems the momentum is constant in May 2023, thus, strengthening steadiness and robustness in growth across all highway corridors across India.

The business’s order book raised Rs 20,600 crore as of March 2023, with EPC at Rs 8,900 crore and operation plus maintenance in BOT/TOT projects at Rs 11,700 crore. Motilal Oswal Financial Services mentioned the strong order book offers revenue visibility over the upcoming three years.

With a robust order book and a high tender pipeline, the brokerage firm assumes IRB Infrastructure Developers to record about 13% revenue over FY23-25 on a combined annual growth rate basis.