India’s Largest Road BOT Operator Reports Rs 843 Crore Toll Collections In May; Revenue Rises 25% YoY

On Tuesday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index rising 0.13 per cent to 23,153.50. Amid the positive market sentiment, IRB Infrastructure Developers share price traded at Rs 51.42, up 1.48 per cent from the previous close, after the company reported a 25 per cent year-on-year increase in toll revenue for May 2026.

IRB Infrastructure Toll Revenue Rises 25 per cent YoY

IRB Group reported toll collections of Rs 843 crore in May 2026, compared with Rs 672 crore in the corresponding month last year, registering a year-on-year growth of 25.45 per cent.

The Group comprises IRB Infrastructure Developers Limited, IRB Infrastructure Trust (Private InvIT) and IRB InvIT Fund (Public InvIT). The increase in collections was driven by higher traffic across operational assets and contributions from newly operational projects.

Key Projects Report Higher Collections

Among the major contributors, IRB MP Expressway Pvt Limited reported toll revenue of Rs 176.2 crore in May 2026 compared with Rs 159.5 crore in May 2025.

IRB Ahmedabad Vadodara Super Express Tollway Pvt Limited recorded collections of Rs 83.8 crore against Rs 68.7 crore a year earlier, while IRB Golconda Expressway Private Limited generated Rs 82.6 crore compared with Rs 73 crore in the corresponding period last year.

IRB Lalitpur Tollway Private Limited reported collections of Rs 44 crore compared with Rs 37.5 crore, while IRB Hapur Moradabad Tollway Limited recorded Rs 31.6 crore against Rs 29.7 crore. Kishangarh Gulabpura Tollway Limited generated Rs 23.3 crore compared with Rs 21.9 crore in May 2025.

IRB Infrastructure New Assets Add To Revenue

IRB Harihara Corridors Tollway Private Limited, related to the Lucknow-Ayodhya-Gorakhpur NH27 and Lucknow-Sultanpur NH731 (TOT 17) project, contributed Rs 61.5 crore during the month. Toll collection on the asset commenced on January 23, 2026.

IRB Chandibhadra Tollway Limited (TOT 18), where tolling began on April 1, 2026, contributed Rs 24.1 crore.

Meerut Budaun Expressway Limited, part of the Ganga Expressway Group-I project, commenced tolling from May 17, 2026, and generated Rs 6.4 crore during the month.

Management Commentary

Commenting on the performance, Shri Amitabh Murarka, Dy. CEO, IRB Infrastructure Developers Limited, said, “The robust toll revenue growth in May 2026 reflects continued traffic growth across our all projects arising out of the strong economy despite rising inflation due to the ongoing geo-political unrest, and support from tolling commencement on newly operational assets. We remain confident of sustaining the growth momentum in coming months.”

IRB Infrastructure Long-Term Revenue Visibility

The company stated that it has entered a cash-harvesting phase following the completion of its asset creation cycle. The strategy is supported by InvIT monetisation and sponsor-led operating leverage.

IRB Group reported a weighted average residual concession life of approximately 21 years across its portfolio, providing visibility of long-term cash flows through toll revenues, recurring operations and maintenance income, and InvIT distributions.

About IRB Infrastructure

IRB Infrastructure Developers Ltd is India's largest roads and highways infrastructure developer and the country's first integrated multinational transport infrastructure developer in the sector.

The company operates across 12 states with a network spanning 15,444 lane kilometres and manages assets including the Mumbai-Pune Expressway and Ahmedabad-Vadodara Expressway. It also sponsors two listed InvIT platforms.

What are your thoughts on IRB Group's 25% growth in toll collections during May 2026? Share your views in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.