IRB Infrastructure shares rally 8% as August toll revenue surges 25% YoY to Rs 807 crore

The company’s toll revenue climbed approximately 25% year-on-year (YoY) to Rs 807 crore in August 2026, compared with Rs 646 crore in the same month last year.

The robust performance was driven by sustained traffic growth across IRB Group’s highway assets, along with the benefit of tariff revisions implemented at the beginning of FY27.

Commenting on the performance, Amitabh Murarka, Deputy CEO, IRB Infrastructure Developers, said the strong toll revenue growth in August reflected sustained traffic growth across the company’s assets.

He added that rising traffic volumes, coupled with the tariff revision implemented at the start of FY27, further supported revenue performance.

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Murarka also highlighted the positive outlook for the coming months, pointing to robust GDP growth and increased economic activity. With the festive season beginning with the Ganesh Festival, the company expects traffic momentum to remain strong and support further growth in toll revenues.

Key Projects Deliver Strong Growth

Among the major assets, IRB MP Expressway Pvt. Ltd., which operates the Mumbai-Pune Expressway and Old Mumbai-Pune Highway (NH-4), reported toll revenue of Rs 172.1 crore in August 2026, up from Rs 144.7 crore a year ago. Meanwhile, IRB Ahmedabad Vadodara Super Express Tollway Pvt. Ltd., which operates the Ahmedabad-Vadodara Expressway (NE-1) and NH-48, generated toll revenue of Rs 80.3 crore, compared with Rs 69.1 crore in August 2025.IRB Group is one of India’s largest integrated infrastructure platforms focused on roads and highways. The group currently has 28 revenue-generating highway assets with an aggregate value of approximately Rs 94,000 crore across 13 states.

Its assets witness around 1.5 million vehicle crossings every day, with the group accounting for nearly one-tenth of India’s total toll revenue.

The latest toll collection numbers indicate continued strength in traffic volumes and provide a positive operational trigger for IRB Infrastructure Developers, with investors closely watching whether the momentum sustains through the upcoming festive season.

Stock Price and Valuation

IRB Infrastructure Developers shares witnessed strong buying interest, surging as much as 8% intraday before paring some of the gains. The stock was last trading around 4% higher, giving the company a market capitalisation of approximately Rs 24,445 crore.

The stock’s 52-week high stands at Rs 23.95, indicating that the recent rally has brought it closer to its yearly peak.

On the valuation front, IRB Infrastructure Developers trades at a price-to-earnings (P/E) ratio of 24.14, while its price-to-book (P/B) ratio stands at 0.55.

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