IRB Infrastructure Developers advanced 2.33% to Rs 228.40 after the subsidiary of the company, Meerut Budaun Expressway executed concession agreement with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).
The 129.7 km long project worth Rs 6,555 crore entails the 'development of access controlled six lane (expandable to eight lane) Greenfield (Ganga Expressway) ' in Uttar Pradesh on DBFOT (toll) basis under PPP.
The traffic-linked concession period is upto 36 years commencing from the appointed date including construction period of three years.
On 5 January 2022, IRB Infrastructure Developers announced that it has redeemed 75,000 secured, dematerialized, redeemable, unlisted, unrated, taxable, non-convertible debentures (NCDs) issued by the company on 16 June 2020 on private placement basis to Anahera Investment.
The company's reported a consolidated net profit of Rs 42.31 crore in the quarter ended September 2021 as against a net loss of Rs 19.66 crore during the previous quarter ended September 2020. Net sales rose 30.4% Y-o-Y to Rs 1,465.24 crore in Q2 FY22.
IRB Infrastructure Developers is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. The company is also into other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.
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