IRB Infra posts Q2FY22 net profit at Rs. 42 Crs; Revenue at Rs. 1,504 Crs

Press Release:

IRB Infra posts Q2FY22 net profit at Rs. 42 Crs; Revenue at Rs. 1,504 Crs

• Toll collections surpassespre-COVID-19 levels in most of the assets
• Bagged Chittoor Thachur six laning highway HAM project in Tamil Nadu
• Achieves full COD for its Chittorgarh Gulabpura Rajasthan BOT Asset
• Starts commercial operations from newly developed Sindhudurg Airport

Mumbai, October 26, 2021:Ensuring the consistent recovery from the COVID-19 pandemic impact, IRB Infrastructure Developers Ltd., today declared its Q2FY22 profit at Rs. 42 Crs and the revenue at Rs. 1,504 Crs; up by 315% and 29% respectively against the corresponding period of FY21.

The Company announced its financial results for the Q2 FY22 in a Board Meeting held in Mumbai today.

While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the

Company said,"Despite the impact of the second wave of the COVID-19 pandemic, the 2ndquarter was encouraging, as we achieved full COD for our Rajasthan BOT project, commenced commercial operations from Sindhudurg Airport, as well as bagged HAM project in Tamil Nadu and above all completed fund raising for the Private InvIT." He further added,"With onset of Festival Season in India and more relaxations announced by the Govt., traffic movement is expected to significantly improve further resulting in much stronger H2FY22."

Financial Performance:

																			(In Rs Cr)
	Particulars			Q2FY22			Q2FY21			%			H1FY22			H1FY21			%
							Change							Change
Total Income	1,504		1,169		29%		3,175		2,242		42%
EBITDA	757		601		26%		1,502		1,129		33%
Profit Before Tax	115		37		211%		255		116		120%
PAT before share of JV	78		22		255%		184		68		171%
PAT after share of JV	42		(20)		310%		114		(50)		328%
Cash Profit	243		151		61%		485		356		36%

*Q2 and H1 of FY21 numbers reflect the impact of total lockdown due to COVID-19 pandemic first wave

• H1 of FY22 numbers reflect impact of partial lockdown due toCOVID-19 second wave

The Business Performance:

• Toll collections have witnessedpre-COVID-19 levels across almost all BOT assets (Mumbai Pune project revenue growth is 39% during the quarter as compared to corresponding quarter of the last year); with a meaningful pick-up in economic activity across the country.

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• Company achieves full COD for its Chittorgarh Gulabpura BOT Asset; thus, leading to 58% increase in tariff with commencement of Toll collection at full rates.
• Awarded LoA for Rs. 909 Crs Chittoor Thachur six laning HAM project in Tamil Nadu with 20.060 Kms stretch between Pondavakkam to Kannigaipair.
• Started commercial flights operations from the newly developedgreen-field Sindhudurg Airport in Maharashtra.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is the largest private roads and highways infrastructure developer in India, with an asset base of over Rs. 55,000 Crs. across the parent company and two InvITs.

The Company has strong track record of constructing over 13,095 lane Kms pan India in 2 decades and has an ability to construct over 500 Kms in a year.

It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

IRB Group's portfolio (including Private and Public InvIT) comprises of 24 projects in all, which includes 24 highway projects in 18 BOT, 1 TOT and 4 HAM space and 1 Airport project in Sindhudurg District of Maharashtra.

For further details, please contact:

• Vivek Devasthali,Head - Corporate Communications, 99300 80099, [e-mail]
• Siddharth Kumar,Sr. Account Director, Adfactors PR, 99029 29187 [e-mail]

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