IRB Infra.&Developer

** Shares of India's IRB Infrastructure Developers IRBI.NS rise 2.2% to 18.37 rupees

** Road and highway developer says board gives in-principle approval to monetize non-core assets

** Adds plan includes phased development of ~350 acres out of ~1,100 acres owned by unit Aryan Infrastructure Investments in India's Pune

** Co says it also plans redevelopment and rehabilitation of part of ~3,500 sq mts land parcel owned by unit Ideal Road Builders in India's Mumbai

** Stock rated "buy" on average by 5 analysts; median PT is 27 rupees - LSEG compiled data

** Stock down 12.6% YTD

(Reporting by Payel Das in Bengaluru)

(([email protected]))

** Shares of IRB Infrastructure Developers IRBI.NS rise nearly 3% to 19.6 rupees

** The highway construction firm posts a ~25% y/y rise in August toll revenue to 8.07 billion rupees ($84.7 million)

** Stock set to rise for the first time in six sessions, if gains hold

** More than 43.1 million shares traded, 3.3x their 30-day moving avg

** The avg rating of analysts covering the stock is "buy" and median PT is 27 rupees - data compiled by LSEG

** YTD, IRBI stock down ~6.5%

($1 = 95.2775 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

July 30 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS JUNE-QUARTER CONSOL NET PAT 3.06 BILLION RUPEES

• IRB INFRASTRUCTURE DEVELOPERS JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 21.37 BILLION RUPEES

Source text: ID:nBSEbsZch3

Further company coverage: IRBI.NS

(([email protected];))

IRB Infrastructure Trust, a privately held associate of IRB Infrastructure Developers, signed a binding term sheet on July 2 to transfer two highway tolling assets to the listed IRB InvIT Fund. The agreement covers Solapur Yedeshi Tollway Limited and CG Tollway Limited, which together have an enterprise value of ₹4,605 crore, unlocking equity proceeds of ₹2,744 crore. The transaction follows a non-binding offer exchanged on May 14 and is expected to close by September 30, 2026. Once transferred, the two build-operate-transfer projects will add approximately ₹2,400 crore to IRB's operation and maintenance order book. The sale proceeds are earmarked to fund upcoming infrastructure opportunities worth around ₹8,000 crore, reinforcing the company's asset-churning strategy. The deal marks another cycle of the company's 'Bid, Execute, Stabilize, Transfer' capital recycling model, moving mature assets to the public investment trust and freeing capital for new acquisitions.

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** Highway construction firm IRB Infrastructure Developers IRBI.NS shares rise 1% to 20.8 rupees

** Stock has gained in two of the last six trading sessions
** Co reports 25% rise in May toll revenue to 8.43 billion rupees ($88.2 million), compared with 6.73 billion rupees a year earlier

** "Revenue growth in May reflects continued traffic growth across our all projects despite rising inflation due to the ongoing geo-political unrest," CEO Amitabh Murarka says

** Stock trades at forward 12-month PE of 18.11 vs industry median of 17.02

** YTD, IRBI down 0.7% vs 6.7% fall in Nifty 500 Index .NIFTY500

($1 = 95.6000 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

April 9 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS LTD - GROSS TOLL COLLECTION FOR MARCH INCREASED BY 21 % Y/Y

Source text: ID:nBSE7Y89f0

Further company coverage: IRBI.NS

(([email protected];))

Feb 5 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS LTD - TO CONSIDER ISSUE OF BONUS EQUITY SHARES

Source text: ID:nBSE1dHmcX

Further company coverage: IRBI.NS

(([email protected];))

Adds revised estimates

By Ashwin Manikandan and Komal Salecha

MUMBAI, Feb 1 (Reuters) - India's federal government will spend a record 12.2 trillion rupees ($133.08 billion) on infrastructure in fiscal year 2027, an 11.4% annual rise, as Asia's third-biggest economy pledged to accelerate growth amid a volatile global environment.

India has significantly raised infrastructure spending after the COVID-19 pandemic, aiming to boost economic growth and create more jobs in the world's most-populous country. The federal budget, presented on Sunday by Finance Minister Nirmala Sitharaman, made a fresh bet on the country's manufacturing sector.

The government's capex plan for the ongoing fiscal year ending March 2026 was revised to 10.95 trillion rupees, as per revised estimates in the budget documents. This is lower than the 11.21 trillion rupees earmarked for the year, which was the highest on record back then.

"The capex outlay for fiscal year 2027 looks a bit modest and misses market expectations slightly, but overall, a positive for the manufacturing sector. It will also be good for private sector capex," said Amit Anwani, an analyst at Prabhudas Lilladher.

Shares of capital goods companies such as Larsen & Toubro LART.NS, IRB Infra IRBI.NS, NBCC NBCC.NS, Action Construction ACEL.NS jumped between 1.3% and 4% on higher capex spending and announcements to scale up infrastructure development.

India's economy has so far withstood punitive U.S. tariffs imposed by President Donald Trump. Economic growth for the current fiscal year has been forecast at 7.4%, with the help of government infrastructure spending and income and consumption tax cuts.

($1 = 91.6710 Indian rupees)

(Reporting by Ashwin Manikandan and Komal Salecha; Editing by Janane Venkatraman)

(([email protected];))

Jan 7 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• GROSS TOLL COLLECTION FOR DECEMBER 25 INCREASED BY 12% Y-O-Y

Source text: ID:nBSE8SQSCp

Further company coverage: IRBI.NS

(([email protected];))

By Vibhuti Sharma and Aditya Kalra

MUMBAI Oct 29 (Reuters) - KKR-backed Vertis Infrastructure Trust in India has selected Axis Capital and two other investment banks to manage its up to $568 million Indian initial public offering, investment banking sources said.

They said the company planned to seek regulatory approval for the offering before December.

A planned IPO for Vertis comes as Indian markets are trading near record highs. Companies have raised $16 billion so far this year via India's public markets, making it the world's third-largest market for debuts, according to Dealogic.

Vertis Infrastructure Trust, which is also backed by the Ontario Teachers' Pension Plan, is a so-called InvIT, or an infrastructure investment trust. These are schemes that allow investors to pool funds into income-generating infrastructure projects.

Vertis' plans to raise up to $568 million via an IPO have been previously reported. But three sources familiar with Vertis' plans told Reuters it is planning to file papers seeking regulatory clearance within weeks, before the end of December.

The sources added that India's Axis Capital, Ambit Capital and Avendus Capital were the three bankers appointed for the deal.

Vertis and the investment banks did not respond to requests for comment.

The company's current target for listing is the second quarter of 2026, one of the banker sources said.

Many private infrastructure investment trusts are seeking to go public on India's stock exchanges in an effort to broaden their investor bases and enhance liquidity for existing stakeholders.

India currently has 27 InvITs, but only six are publicly listed. Vertis Infrastructure Trust manages assets worth around $3 billion, according to its website.

(Reporting by Vibhuti Sharma in Mumbai and Aditya Kalra in New Delhi; Additional reporting by Vivek Kumar M in Bengaluru; Editing by Thomas Derpinghaus)

(([email protected];))

Oct 8 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE - APPROVED INVESTMENT IN IRB INVIT FUND FOR UP TO 7.53 BILLION RUPEES

Source text: ID:nBSEcdY3dH

Further company coverage: IRBI.NS

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** Shares of IRB Infrastructure Developers IRBI.NS rise as much as 3.6% to 43.75 rupees, last up 1.5%

** Highway construction co's gross toll revenue for August rose 12% Y/Y to 5.63 bln rupees ($64 mln)

** Stock set to snap three session losing streak

** IRBI down ~25% YTD

($1 = 87.9650 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))

June 9 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS LTD - GROSS TOLL COLLECTION FOR MAY 2025 INCREASED BY 9% Y-O-Y

Source text: ID:nNSEFCVCh

Further company coverage: IRBI.NS

(([email protected];))

April 8 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• GROSS TOLL REVENUE FOR MARCH 2025 INCREASED BY 16% Y/Y

Source text: ID:nBSE3vkTw

Further company coverage: IRBI.NS

(([email protected];;))

Adds analyst comment in paragraph 5, ratings agency's forecast in paragraph 12

By Hritam Mukherjee

Feb 1 (Reuters) - Indian infrastructure and cement stocks declined in a special trading session on Saturday, as investors were disappointed by the 'modest' hike in capital spending announced in the annual budget.

The infrastructure index .NIFTYINFR reversed gains following the budget presentation, and closed 1% lower. Sector bellwether Larsen & Toubro (L&T) LART.NS ended 3.4% lower, its sharpest one-day fall in more than 3 months.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

"The budget proposals seem to focus a lot on consumption this time around... but the negative surprise has come from the shift of focus on government capex in infrastructure development," said Mirae Asset Sharekhan's Gaurav Dua.

IRB Infrastructure Developers IRBI.NS, which constructs highways, declined 3%.

"With corporate balance sheets fairly strong, (the) government wants private sector to step up on capex," the company's Chairman Virendra D. Mhaiskar said.

Shares of cement makers, which are key beneficiaries of government spending, fell on worries that of a slow demand recovery.

UltraTech ULTC.NS, the country's largest cement maker by capacity, fell as much as 6% before ending 2% lower.

Ambuja Cements ABUJ.NS and Dalmia Bharat DALB.NS fell 2% each, while Shree Cement SHCM.NS dropped 3%.

Top cement executives have flagged that government spending hasn't picked up substantially since the national elections in 2024, with volumes growing sluggishly in the third quarter nearly across the board.

Cement demand is likely to log single-digit percentage growth in fiscal year 2026, India Ratings and Research said.

India is the world's second-largest cement producer, and the domestic industry is expected to grow 4%-5% in fiscal year 2025, significantly slower than the 8% and 12% growth seen in 2022 and 2023, data from ratings agency Crisil showed.

(Reporting by Hritam Mukherjee in Bengaluru; Additional reporting by Yagnoseni Das; Editing by Varun H K)

(([email protected]; X: @MukherjeeHritam;))

Dec 16 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• EXECUTION OF AGREEMENTS FOR GANGA EXPRESSWAY PROJECT

• ENTERED AGREEMENT FOR ACQUISITION BY PRIVATE INVIT OF 80.40% STAKE IN MBEL

Source text: ID:nBSE2xT3Ch

Further company coverage: IRBI.NS

(([email protected];;))

** Shares of IRB Infrastructure Developers IRBI.NS down 4.3% to 51.7 rupees

** Highways and bridges maker reported a 9% drop in Q2 consol rev

** At least 4 of 6 brokerages cut TP, lowering the median to 67 rupees - LSEG data

** HDFC Securities ("add") cuts by 4% on delay in project execution

** Antique Stock Broking ("buy") cuts TP by 5% on declining order book in road, construction segments

** Motilal Oswal ("neutral") cuts by TP by 1.6% due to lower execution in construction business

** Analysts' avg rating on stock is "buy" -LSEG data

** Stock is up 1.7% so far this week, on track to snap five straight weeks of losses

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Oct 30 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS SEPT-QUARTER CONSOL NET PAT 998.7 MILLION RUPEES

• IRB INFRASTRUCTURE DEVELOPERS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 15.86 BILLION RUPEES

Source text: ID:nBSE9VFJvP

Further company coverage: IRBI.NS

(([email protected];;))

Oct 14 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS- APPROVES TAP ISSUANCE OF ADDITIONAL USD-DENOMINATED NOTES FOR UP TO $200 MILLION

Source text for Eikon: [ID:]

Further company coverage: IRBI.NS

(([email protected];))

Oct 8 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• SEPTEMBER GROSS TOLL COLLECTION INCREASE 19% Y/Y

Source text for Eikon: ID:nBSE2Rf6sz

Further company coverage: IRBI.NS

(([email protected];;))

Sept 9 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS - AUGUST TOLL COLLECTION INCREASES ABOUT 20% Y/Y

Source text for Eikon: ID:nNSE3PlKdC

Further company coverage: IRBI.NS

(([email protected];;))

Aug 9 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS LTD JUNE-QUARTER CONSOL NET PAT 1.40 BILLION RUPEES

• IRB INFRASTRUCTURE DEVELOPERS LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 18.53 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IRBI.NS

(([email protected];))

July 10 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• JUNE TOLL REVENUE OF IRB INFRA & IRB INFRASTRUCTURE TRUST UP 35% Y/Y

Source text for Eikon: ID:nBSE51KfSh

Further company coverage: IRBI.NS

(([email protected];;))

June 11 (Reuters) - Ferrovial SE FERF.AS:

• SELLS, THROUGH ITS UNIT CINTRA, A 5% STAKE IN IRB INFRASTRUCTURE DEVELOPERS FOR 214 MILLION EUROS

• ESTIMATED PRE-TAX CAPITAL GAIN FROM THIS TRANSACTION IS 130 MILLION EUROS

• SALE IN FORM OF BLOCK DEAL OR PLACEMENT OF 301.9 MILLION SHARES WITH INSTITUTIONAL INVESTORS

• SHARES IN IRB SOLD AT AVERAGE PRICE OF 63.60 RUPEES

• TO CONTINUE TO BE THE SECOND-LARGEST SHAREHOLDER, WITH A 19.9% STAKE

Source text for Eikon: ID:nCNM5XXcKR

Further company coverage: FERF.AS

(Gdansk Newsroom)

(([email protected]; +48 58 769 66 00;))

** Shares of Ashoka Buildcon ABDL.NS surges 13.8% to a record high of 212 rupees

** Fellow highway maker IRB Infrastructure IRBI.NS jumps 7% on reporting over 30% rise in toll collection for May

** ABDL last up ~12%, set for best one-day rise since Jan 9 and taking YTD gains to ~50%

** Trading vol tops 11 mln shares for first time since Jan 9

** IRB and Ashok Buildcon expected to benefit from 3%-5% hike in road toll charges from last Monday

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected] ;))

June 6 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS LTD - MAY TOLL COLLECTION INCREASE ABOUT 30% Y/Y

Source text for Eikon: ID:nBSE9skBDK

Further company coverage: IRBI.NS

(([email protected];))

Repeats story that ran on Sunday, with no changes

By Manoj Kumar

NEW DELHI, June 2 (Reuters) - India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections.

Toll charges in India are revised annually in line with inflation and highway operators put notices in local newspapers announcing hikes of 3% to 5% at nearly 1,100 toll plazas from Monday.

"As the election process is over, the revision of user fee (toll) rates, which was put on hold during the elections, would become effective from June 3," a senior official at the National Highways Authority of India told Reuters.

The official said hikes in toll charges and taxation on fuel products help pay for the expansion of national highways, but opposition parties and many motorists criticise the annual rise in charges, saying they increase transport costs of essential commodities and burden commuters.

High operators like IRB Infrastructure Developers IRBI.NS and Ashok Buildcon Ltd ABDL.NS will benefit from the toll increases.

India has invested billions of dollars over the last decade to expand the national highways, with a total length of about 146,000 kilometres, the second-largest global road network.

Toll collections jumped to more than 540 billion rupees ($6.5 billion) in the 2022/23 fiscal year from 252 billion in 2018/19, helped by a rise in road traffic as well as by increases in the number of toll plazas and charges.

India's general election concluded on Saturday with Prime Minister Narendra Modi's Bharatiya Janata Party (BJP)-led alliance projected to win a big majority, TV exit polls showed.

($1 = 83.4240 Indian rupees)

(Reporting by Manoj Kumar; Editing by Susan Fenton)

(([email protected]; +919810286200; Twitter:@manojgulnar;))

By Manoj Kumar

NEW DELHI, June 2 (Reuters) - India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections.

Toll charges in India are revised annually in line with inflation and highway operators put notices in local newspapers announcing hikes of 3% to 5% at nearly 1,100 toll plazas from Monday.

"As the election process is over, the revision of user fee (toll) rates, which was put on hold during the elections, would become effective from June 3," a senior official at the National Highways Authority of India told Reuters.

The official said hikes in toll charges and taxation on fuel products help pay for the expansion of national highways, but opposition parties and many motorists criticise the annual rise in charges, saying they increase transport costs of essential commodities and burden commuters.

High operators like IRB Infrastructure Developers IRBI.NS and Ashok Buildcon Ltd ABDL.NS will benefit from the toll increases.

India has invested billions of dollars over the last decade to expand the national highways, with a total length of about 146,000 kilometres, the second-largest global road network.

Toll collections jumped to more than 540 billion rupees ($6.5 billion) in the 2022/23 fiscal year from 252 billion in 2018/19, helped by a rise in road traffic as well as by increases in the number of toll plazas and charges.

India's general election concluded on Saturday with Prime Minister Narendra Modi's Bharatiya Janata Party (BJP)-led alliance projected to win a big majority, TV exit polls showed.

($1 = 83.4240 Indian rupees)

(Reporting by Manoj Kumar; Editing by Susan Fenton)

(([email protected]; +919810286200; Twitter:@manojgulnar;))

** Shares of IRB Infrastructure Developers IRBI.NS rise 3.5% to 68.40 rupees, set for best day in 4 weeks

** Highways and bridges maker reports 45.1% Y/Y rise in Q4 profit, while rev rose 27.2%

** Stock on track to snap two consecutive sessions of losses

** Average rating of six analysts covering the stock is "buy"; median PT is 65.50 rupees - LSEG data

** Stock's rise takes YTD gains to ~65%

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

May 7 (Reuters) - IRB Infrastructure Developers Ltd IRBI.NS:

• IRB INFRASTRUCTURE DEVELOPERS MARCH-QUARTER CONSOL NET PAT 1.89 BILLION RUPEES VERSUS PROFIT 1.3 BILLION RUPEES

• IRB INFRASTRUCTURE DEVELOPERS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 20.61 BILLION RUPEES VERSUS 16.2 BILLION RUPEES

Source text for Eikon: ID:nBSE6tYkHb

Further company coverage: IRBI.NS

(([email protected];;))