IRB Infrastructure Developers Limited stands as India's leading and the largest integrated and first multi-national transport infrastructure developer in roads and highways sector. The company, incorporated in 1998 by Virendra D. Mhaiskar, is headquartered in Mumbai, Maharashtra, and is registered under the Company Identification Number (CIN) L65910MH1998PLC115967.
IRB Infrastructure has established itself as India's largest road BOT operator with a portfolio of 36 projects. The company operates through multiple business models such as build-operate-transfer (BOT), toll-operate-transfer (TOT), and hybrid annuity model (HAM). The company's strategic positioning is further strengthened by its TOT portfolio that aggregates 37% of the total TOT market share and approximately 20% share in Golden Quadrilateral Highway Network.
The company's portfolio encompasses 27 projects, including 26 highway projects and 1 airport project, comprising 18 BOT projects, 4 TOT projects, and 4 HAM projects in roads and highways infrastructure segment. Currently, the project portfolio comprises 12,800 Lane Kms under BOT and HAM projects, including length of 8,745 Lane Kilometers across India under both business models, and 4,055 Lane Kilometers under O&M entrustment by India's first ever listed Infrastructure Investment Trust.
IRB Infrastructure has demonstrated strong financial performance with market capitalisation of ₹29,893.05 crore as of July 2025. The company's recent financial results show revenue of ₹2,149.24 crore and net profit of ₹214.72 crore for Q4 FY25. For the full year FY25, the company reported consolidated net profit of ₹6,480.68 crore compared to ₹605.82 crore in FY24, with revenue from operations rising 2.8% YoY to ₹7,613.47 crore.
Key financial metrics include:
- Revenue: ₹2,149.24 crore (Q4 FY25)
- Net Profit: ₹214.72 crore (Q4 FY25)
- Annual Revenue: ₹7,613.47 crore (FY25)
- Annual Net Profit: ₹6,480.68 crore (FY25)
- Market Cap: ₹29,887 crore (July 2025)
- EPS: ₹10.73 (FY25)
- Dividend Yield: 0.78%
IRB Infrastructure has pioneered the InvIT model in India with the distinction of launching and listing first Infrastructure Investment Trust (InvIT). The company operates through three strategic business verticals, including 1 Private InvIT and 1 Public InvIT.
A significant recent development is the IRB InvIT Fund's signed binding term sheet with IRB Infrastructure Trust for acquiring three BOT highway assets for a consideration of ₹4,905 crore. This acquisition will expand the portfolio to nine projects with the addition of these three high-revenue BOT highway assets and double the enterprise value to over ₹16,000 crore.
The company has demonstrated consistent toll revenue growth, with 23% Y-o-Y toll revenue growth for FY25, surpassing national Y-o-Y toll revenue growth of 12.5%. Recent monthly performance shows nearly 9% year-on-year increase in toll revenue to ₹581 crore in May 2025, attributed to seasonal traffic growth and contributions from key assets including the IRB MP Expressway and Golconda Expressway.
IRB Infrastructure Developers Ltd is led by chairman and managing director Virendra D. Mhaiskar. The company's shareholding pattern shows promoter holding of 30.42% as of March 2025, indicating strong management commitment.
Beyond its core highway business, the company has recently diversified its business into the real estate development sector. The company also has an airport project in Sindhudurg, Maharashtra, the first ever airport project in IRB's portfolio.
IRB Infrastructure continues to strengthen its position through strategic acquisitions and operational excellence, with the ability to undertake construction of 500 to 600 kms at any given point of time. The company's commitment to delivering world-class infrastructure is evident in its dedication to develop world-class highways infrastructure for India, with higher safety standards that ensure consistent delivery of better value to end users, neighboring communities, and all stakeholders.
As India's infrastructure development continues to accelerate, IRB Infrastructure Developers is well-positioned to capitalize on growth opportunities while maintaining its leadership position in the highway infrastructure sector.
