Rs 32,600 crore order book & LIC holds 3.33 per cent stake: Multibagger stock under Rs 65; Company report YoY rise of 23 per cent in the toll collection of November 2024
The stock is up by 60 per cent from its 52-week low of Rs 37.40 per share and has given multibagger returns of 770 per cent in 5 years.
IRB Infrastructure Developers Ltd and IRB Infrastructure Trust (Private InvIT) have reported a robust 23 per cent year-on-year growth in their aggregate toll collection for November 2024. The companies collectively garnered Rs 536 crore in toll revenue during the month, compared to Rs 437 crore in the same period last year. This significant increase underscores the strong performance and growth trajectory of the company's infrastructure projects.
IRB Infrastructure Developers Ltd (IRB) is India’s first Integrated Multi-National Transport Infrastructure Developer in the Roads & Highways segment. The Company has acquired ISO Certification in Quality (ISO 9001); Environment Management (ISO 14001), Occupational Health and Safety (ISO 45001) and IT Security (ISO 27001) from the ISOQAR, United Kingdom. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approx. Rs 80,000 crore in 12 States across the parent company and two InvITs.
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The Company has a strong track record of constructing, tolling, operating, and maintaining around 18,500 Lane Kms pan India in its existence of more than 25 years in India; of which 15,500 Lane Kms are under operation at present. The group commands a market share of around 34 per cent in the TOT space. It also comprises a 12 per cent share of India’s North-South highway connectivity. After completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group’s project portfolio (including Private and Public InvIT) has now 26 road projects that include 18 BOT, 4 TOT, and 4 HAM projects.
The company has a market cap of over Rs 35,000 crore. As of September 2024, LIC owns a 3.33 per cent stake in the company and has an order book worth Rs 32,600 crore as of September 30, 2024. The stock is up by 60 per cent from its 52-week low of Rs 37.40 per share and has given multibagger returns of 770 per cent in 5 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.