Neutral IRB Infrastructure; target of Rs 240: Motilal Oswal
Motilal Oswal recommended Neutral rating on IRB Infrastructure with a target price of Rs 240 in its research report dated October 22, 2022.24-10-2022
24-10-2022
Q2FY23 Quarterly Result Announced for IRB Infrastructure Developers Ltd.
IRB Infrastructure Developers announced Q2FY23 results: IRB Infra Q2FY23 net profit more than doubles to Rs. 85 crore from Rs. 42 crore in corresponding quarter of FY22 Total revenue for Q2FY23 at Rs. 1,439 crore Toll revenue across IRB and Pvt InvIT entities together up by ~ 53% YoY for first half While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, “We witnessed robust growth in toll collections YoY, even as monsoons kept the construction segment soft during the quarter. Overall, a strong movement on business front included Ganga Expressway receiving appointed date to commence construction activity, GIC’s equity funding for the project, shareholder’s nod for Vadodara Kim HAM project getting transferred to the Public InvIT, compensation for revenue loss during farmers agitations, etc. have been much encouraging for us.” He further added, “With construction on Ganga Expressway project getting into full execution mode, we are now confident of achieving construction turnover of approx. Rs. 4,500 Crs for FY23. Wish all our stakeholders a very safe, healthy and prosperous festival of lights.” Result PDF21-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Outcome Of The Meeting Of The Board Of Directors Held On October 21, 2022
Board of Directors of the Company at its meeting held on October 21, 2022 has approved Un-audited Consolidated & Standalone Financial Results for the quarter and six months ended September 30, 2022. A copy of the results along with the Limited Review Report is enclosed herewith. Further, Board of Directors has amended Code of Conduct for Regulating, Monitoring and Reporting of trading by Designated Persons and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in compliance with Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.21-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Board Meeting Outcome for Outcome Of The Meeting Of The Board Of Directors Held On October 21, 2022
Board of Directors of the Company at its meeting held on October 21, 2022 has approved Un-audited Consolidated & Standalone Financial Results for the quarter and six months ended September 30, 2022. A copy of the results along with the Limited Review Report is enclosed herewith. Further, Board of Directors has amended Code of Conduct for Regulating, Monitoring and Reporting of trading by Designated Persons and Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in compliance with Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.21-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Update Regarding The Ganga Expressway Project
Meerut Budaun Expressway Limited (MBEL) has successfully completed equity fund raising by way of preferential allotment of equity shares on a private placement basis aggregating to Rs. 533.20 Crore. The Company and the Financial Investor have contributed Rs. 271.90 Crore and Rs. 261.29 Crore respectively. Pursuant to such allotment, the Company's and the Financial Investor's shareholding in MBEL is in the ratio of 51:49 respectively.19-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Intimation Of Earnings Call
This is to inform you that the Company will conduct an earnings call at 04.00 p.m. IST on October 21, 2022.19-10-2022
IRB set to reap benefits from govt's infrastructure push, says report
IRB Infrastructure is well poised to leverage the government's push on creating highway infrastructure due to its strong balance sheet and its association with the Spain-based Cintra17-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Execution Of Definitive Agreements In Relation To The Implementation Of The Ganga Expressway Project
The Company has now executed the framework agreement, the debenture subscription agreement, the shareholders agreement, and other ancillary agreements with the financial investor, Anahera Investment Pte. Ltd. (an affiliate of GIC Private Limited) ('Financial Investor') and MBEL16-10-2022
IRB INFRASTRUCTURE DEVELOPERS LTD. - 532947 - Execution Of Definitive Agreement In Relation To Transfer Of Vadodara Kim Expressway Project ('VK1 Project') To IRB Invit Fund
We refer to our letter dated August 5, 2022 in relation to transfer of Vadodara Kim Expressway Project ('VK1 Project') to IRB InvIT Fund ('Trust'), a publicly offered and listed InvIT sponsored by the Company ('Proposed Transaction'). The Company has now executed a share purchase agreement and other ancillary agreements in relation to the Proposed Transaction.14-10-2022