Construction firm IRB Infra’s net profit crashes 96 pc in Q4 FY25

Mumbai, May 19, 2025: IRB Infrastructure Developers Limited, India’s leading and the largest multi-national integrated transport infrastructure developer in the roads and highways sector has reported 14% Y-o-Y increase in the Net Profit for Q4FY25.

The Company announced its Q4FY25 Financial Results in the Board Meeting held today, in which it reported the Net Profit of Rs. 215 Crs against Rs. 189 Crs for the corresponding quarter of FY24.
For the entire FY25, the Company reported Net Profit of Rs. 677 Crs (excluding exceptional gain), against Rs. 606 Crs in FY24; thus, Y-o-Y rise of 12%; whereas the Total Income for the full FY25 reported is Rs. 8,032 Crs in FY25 as against Rs. 8,202 Crs in FY24; thus, a Y-o-Y decline of 2% due to lower other income.

While commenting on the occasion, Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “The results are promising, with a strong 23% growth in toll revenue over last year, outpacing the national growth rate of 12.5%. Although the first half was impacted by general elections, we witnessed robust growth in the second half of FY25. The two TOT projects commenced operations during the year, have been encouraging and exceeding estimates. With the Government’s push for PPP projects in the Union Budget, we remain enthused and focused on expected higher momentum in BOT and TOT bid line up.”
Financial Performance:
Particulars Q4FY25
(Rs. In Crs) Q4FY24
(Rs. In Crs) % Change FY25
(Rs. In Crs) FY24
(Rs. In Crs) % Change
Total Income 2,218 2,504 -11% 8,032 8,202 -2%
EBITDA 1,066 1,333 -20% 4,024 4,125 -2%
PAT (excluding exceptional gain) 215 189 14% 677 606 12%
PAT (including exceptional gain) 215 189 14% 6,481 606 970%

Business Performance of FY25:
• Continued with its legacy of being India’s leading and largest multi-national integrated transport infrastructure developer in the roads and highways segment with highest base of operational lane kms spanning 15,500km comprising 18 BOT projects, 4 TOT projects and 4 HAM projects; thus, 26 highways projects in all with an asset base of Rs.80,000 Crs.

• Commissioned Tolling and O&M activities for Lakhnadon Lalitpur NH44 TOT 12 Highway Asset of approx. 315 Kms and Gwalior Jhansi NH44 & Kota Bypass TOT13 Highway Asset of approx. 103 Kms at the very beginning of FY25; thus, taking Company’s share in the North South Highway Connectivity to 12% and overall space of awarded TOT market to approx. 33%. The collection for both projects has been robust and encouraging, exceeding our initial estimates.

• IRB Infra and its Private InvIT clocked approx. 23% Y-o-Y Toll Revenue growth for FY25; surpasses National Y-o-Y Toll Revenue growth of 12.5%; FY25 Toll Revenue is Rs. 6,360 Crs as against Rs. 5,169 Crs in FY24. The group has little over 10 per cent market share of pan India Toll revenue.

• Meerut Budaun Expressway project, which is the part of prestigious Ganga Expressway project was transferred to the IRB Infrastructure Trust, the Private InvIT arm of the Company. The Project has received a Grant aggregating to Rs. 1,290 Crs from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA). The project is progressing as per the scheduled timelines.

• The Company successfully completed the issuance and allotment of the additional Reg S US$200,000,000 7.11% Senior Secured Notes due in 2032, which are to be consolidated and form a single series with US$540,000,000. The Notes are listed on the India International Exchange (IFSC) Limited.