• Q4FY26 PAT of Rs. 296 Crs against Rs.215Crs in Q4FY25
  • FY26 PAT before exceptional items of Rs. 893 Crs against Rs.677Crs in FY25
  • Group’s FY26 Toll Revenue is Rs.8,323 Crs against FY25 Toll Revenue of Rs.7,400Crs; thus, YoY growth of 12%
  • Group’s Toll Revenue share is 10% of India’s Aggregate Toll Revenue of Rs.82,900Crs for FY26

Mumbai: IRB Infrastructure Developers Limited, India’s leading and the largest toll road concessionaire has reported 38% YoY growth in Net Profit for Q4FY26; and 32% in Net Profit for FY26.

The Company announced its Q4FY26 Financial Results in the Board Meeting held today, in which it reported Net Profit of Rs. 296 Crs as against Rs.215 Crs in the corresponding quarter of FY25; whereas Total Income for Q4FY26 reported is Rs. 1,977 Crs as against Rs.2,218 Crs in Q4FY25; thus, a YoY decline of 11%.

For full FY26, Company reported Net Profit before exceptional item of Rs.  893 Crs, against Rs.677Crs in FY25; thus, YoY rise of 32% and Total Income for the full FY26 reported is Rs. 7,854 Crs as against Rs. 8,032 Crs in FY25; thus, a YoY decline of 2%.

While commenting on the occasion, Shri Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “With the operationalisation of the Ganga Expressway, all major IRB projects are now revenue generating, marking the successful completion of one of the largest capex and development cycles in the Company’s history. As we enter the next phase of growth, IRB is strategically positioned for a multi-year operating leverage expansion cycle, with strong profit growth expected to be driven by rising toll revenues, increasing InvIT distributions, and stable recurring cash flows from our O&M platform. Our transition from a hybrid developer model to an integrated sponsor, asset manager, and operator platform is now beginning to deliver tangible results, creating a structurally stronger and more sustainable business for the long term.”

Financial Highlights:

(Rs. In Crs)

ParticularsQ4FY26Q4FY25% ChangeFY26FY25% Change
Total Income1,9772,218-117,8548,032-2
EBITDA1,1331,06664,1884,0244
PAT (excluding exceptional gain)2962153889367732

Business Highlights:

  • Continued with its legacy of being India’s leading and largest toll road concessionaire with highest base of operational lane kms spanning 17,500km, comprising 18 BOT projects, 6 TOT projects and 4 HAM projects; thus, 28 highways projects in all with an asset base of Rs.94,000Crs.
  • Commissioned Tolling and O&M activities for TOT-17 Bundle comprising two highway assets of 1,464 Lane Kms with a cost outlay of around Rs.10,500Crs
  • During the year TOT-18 Project in Odisha was awarded having 447 Lane Kms and Cost Outlay of Rs.3,456Crs; thus, taking Company’s share in the awarded TOT space to remarkable 44%, the largest by any private player in the sector and to 16% in India’s prestigious Golden Quadrilateral project. Also, with this project, Company extended its footprints in the 13th State in India
  • Group clocked FY26 Toll Revenue at Rs.8,323 Crs against Rs.7,400Crs in FY25; thus, registering growth of 12% over last year, which represents 10% share in India’s aggregate toll revenue of Rs.82,900Crs for FY26
  • Company facilitated transfer of three BOT assets of its sponsored IRB Infrastructure Trust (Private InvIT) with enterprise value of Rs.8,436 Crs to its other sponsored IRB InvIT Fund (Public InvIT) and unlocked capital of Rs.4,905 Crs for exploring upcoming opportunities in the sector
  • Company also transferred its own Gandeva to Ena Hybrid Annuity Project, which is part of upcoming Delhi Mumbai Greenfield Expressway; thus, receiving equity contribution of Rs.513 Crs and reducing debt levels by Rs.700 Crs

Important Updates:

  • Tolling commenced on TOT-18 Project in Odisha from 1st April 2026
  • Ganga Expressway Group 1, Meerut Budaun Expressway project was completed within scheduled time of 36 months and was inaugurated by Hon’ble Prime Minister of India Narendra Modi on 29th April 2026. Tolling commenced on the project with effect from 17th May 2026.
  • With commissioning and commencement of tolling on Ganga Expressway Group 1 Asset, all assets under IRB group are revenue generating. 

Company’s Private InvIT Associate, IRB Infrastructure Trust has offered two of its BOT Assets, each in Maharashtra and Gujarat, with Enterprise Value of Rs.4,663Crs to IRB InvIT Fund (Public InvIT sponsored by the Company) through a Non-Binding Offer