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The latest update is out from IRB Infrastructure Developers Limited ( (IN:IRB) ).
IRB Infrastructure Developers Limited announced that its project, Palsit Dankuni Tollway Pvt. Ltd., has received a Completion Certificate from the National Highways Authority of India (NHAI). This milestone allows the company to begin toll collection at revised rates, with an expected 47% increase in toll revenue, potentially boosting annual revenue by approximately ₹100 crore. The project involves the expansion of a 63.83 km section of NH19 in West Bengal from four to six lanes, representing the company’s first venture in the state. The project, costing ₹2,403 crore, has a concession period of 17 years, and is anticipated to enhance commuting experiences while strengthening IRB’s market position in the region.
More about IRB Infrastructure Developers Limited
IRB Infrastructure Developers Limited operates in the infrastructure sector, focusing on the development and management of road and highway projects. The company is involved in the construction, operation, and maintenance of roads, highways, and related infrastructure, primarily through public-private partnerships and build-operate-transfer models.
Average Trading Volume: 1,001,871
Current Market Cap: 287.6B INR
For an in-depth examination of IRB stock, go to TipRanks’ Overview page.