IRB Infra announces Results; posts Q4 PAT at Rs. 175Crs, Consolidated Income at Rs.1,683 Crs
Mumbai, May 17,2022:IRB Infrastructure Developers Ltd. (IRB), India’s leading and largest integrated highway infrastructure developers announced the Q4FY22 Financial Results, in its Board Meeting, held today at Mumbai.
Financial Highlights of Q4FY22:
|Particulars(Financials impacted by Pandemic)||Q4FY22(Rs. In Crs)||Q4FY21(Rs. In Crs)||FY22(Rs. In Crs)||FY21(Rs. In Crs)|
|Profit Before Tax||303||176||776||427|
|PAT before share of JV||235||127||588||283|
|Share of loss from JV||(61)||(29)||(227)||(166)|
|PAT after share of JV||175||97||361||117|
Note: FY21 and FY22 numbers have been impactedon account of partial lockdown due to the COVID-19 Pandemic and suspension of tolling on a project due to the Farmers’ agitation.
The financial numbers and toll collection numbers are clear indication of the economic activity regaining pace across the Nation, post relaxation from the lockdown imposed as a result of COVID-19 Pandemic.
Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We witnessed a robust growth in collections across projects as the Pandemic related restrictions were relaxed and Farmer’s protest was called off. The year witnessed some commendable achievements like closing deal with Cintra Global S.E. (Ferrovial N.A., Spain) and Bricklayers Investment Pte. Ltd. (GIC Affiliates, Singapore) over and above routine business of winning projects, achieving financial closures, commissioning projects, etc. With the new partners on board, we are now well equipped and fully geared up to take on new opportunities and challenges in the sector and look forward to a better and stronger FY23. We are back to growth trajectory and will be following our BEST strategy to unlock value on a regular basis to realise returns for our shareholders.”
The key highlights of business performance for FY22are:
- Completed the equity fund raising of Rs.5,347 Crs.
- Achieved PCOD for Company’s first HAM Project Vadodara to Kim with cost outlay of more than Rs.2,000 Crs on upcoming Delhi Mumbai Expressway.
- Achieved Financial Closure for Palsit Dankuni BOT Project and Pathankot Mandi HAM Project.
- Bagged prestigious Ganga Expressway Group 1 Greenfield 6 Lanes BOT project of 129.700 Kms stretch from Meerut to Badaun with cost outlay of INR 6,656 Crores.
- Bagged Chittoor Thachur HAM project in Tamil Nadu.
- Achieved full COD for two Rajasthan BOT projects, Chittorgarh – Gulabpura and Udaipur – Shamlaji with effective toll tariff revision of 58% and 55% respectively.
- Raised Rs.381.63 Crs for IRB Infrastructure Trust (Private InvIT) through Rights Issue.