Sadbhav Infrastructure Projects is in focus on account of toll revenue numbers

Sadbhav Infrastructure Projects (SIPL) declared its toll revenue for its eight operational SPVs. The toll revenue of the company increased by 23.69 per cent from Rs 146.61 crore in Q3FY15 to Rs 181.34 crore in Q3FY16. The company's topline is going to increase in Q3FY16 on account of better toll revenue for the latest quarter. Meanwhile, company bottom line will remain under pressure due to its existing debt burden of Rs 6600 crore in near term.

SIPL is a build, operate and transfer (BOT) company catering to the creation of roads. The company is engaged in the development, operation and maintenance of highways, roads and related projects. Its project portfolio consists of approximately 10 BOT projects. Out of 10 BOT projects, SIPL's nine BOT projects are toll projects, and one is an annuity project. The company's operational projects cover approximately 1530 km, and the projects under development cover approximately 1060 km. It also provides operation and maintenance, as also advisory and project management services to its projects. SIPL has projects in various states in India, including Maharashtra, Gujarat, Rajasthan, Karnataka, Haryana, Madhya Pradesh and Telangana.

SIPL's Ahmedabad Ring Road Infrastructure (ARRIL) witnessed 3.36 per cent growth to Rs 23.11 crore in Q3FY16 on  a yearly basis. The company collected Rs 6.29 crore toll at 20.2 per cent growth from Aurangabad- Jalna Tollway (AJTL) for Light Commercial Vehicles (LCV) and Multi Axle Vehicles (MAV) category. It also collected 1.75 crore from truck category for AJTL. The company's Bijapur-Hungund Tollway (BHTPL) revenue rose by 9.9 per cent to Rs 27.98 crore in Q3FY16. The toll revenue from Hyderabad-Yadgiri Tollway (HYTPL) too increased by 25.9 per cent to Rs 14.19 crore in Q3FY16. 

SIPL's Maharashtra Border Check Post Network (MBCPNL) revenue boosted by 74.8 per cent to Rs 41.55 crore in Q3FY16 on a yearly basis. Meanwhile the company's check post number also increased from 9 in Q3FY15 to 13 in Q3FY16.The company collected toll amounting to Rs 38.44 crore from Dhule Palesner Tollway (DTPL); Rs 29.95 crore from Rohtak – Hissar Tollway (RPTPL); and 6.08 crore from Shreenathji- Udaipur Tollway (SUTPL) during Q3FY16. 

Share price of SIPL declined by 3.24 per cent on bourses in early trades, and is trading at Rs 94 on an intraday basis. The company came up with an IPO issue valued at Rs 103 in mid  September,2015. The other players in infrastructure industry like MEP Infra Developers and Pennar Engineered Building Systems also came up with IPO offers trading at a discount of Rs 45.6 and Rs 157. However, PNC Infratech is cheering investors and gave returns of  around 37 per cent in proportion to the issue price of Rs 378 and is trading at Rs 518 on an intraday basis.