IRB Infrastructure Developers Ltd reported a 9% year-on-year increase in its toll revenue for May 2025, reaching Rs. 581 crore compared to Rs. 536 crore in the same period last year. The company attributed this robust growth to heightened travel activity during the vacation season, alongside the addition of approximately 4.5 lakh new vehicles on Indian roads. Major contributors included the IRB MP Expressway, Golconda Expressway, and Ahmedabad Vadodara Super Express Tollway. Despite pre-monsoon rains causing minor disruptions, IRB anticipates sustained revenue momentum, buoyed by new projects and steady expansion of India’s highway infrastructure.
Revenue Surge Across Key Toll Projects
IRB Infrastructure, India’s largest integrated private developer in the highways sector, demonstrated a resilient performance in May 2025. The company’s total toll revenue climbed to Rs. 581 crore, a notable rise from Rs. 536 crore recorded in the same month last year.
Among IRB’s portfolio of 17 toll roads, the IRB MP Expressway in Maharashtra led the revenue contributions with Rs. 159.5 crore, up from Rs. 152.6 crore in May 2024. The Golconda Expressway (Hyderabad ORR) followed, registering Rs. 73 crore, a healthy gain over Rs. 62.7 crore from the previous year. The Ahmedabad Vadodara Super Express Tollway also reported growth, with revenue rising to Rs. 68.7 crore from Rs. 64.5 crore.
Expansion and New Project Contributions
Last year, IRB added the TOT-12 project, Lalitpur Lakhnadon NH44, to its portfolio. This project alone generated Rs. 37.5 crore in toll revenue for May 2025, up from Rs. 35.5 crore in the previous year.
Deputy CEO Amitabh Murarka attributed this year’s overall growth to increased travel activity during India’s vacation season, which offset the slight slowdown in traffic during the latter half of the month due to pre-monsoon rains. He highlighted that the addition of approximately 4.5 lakh new commercial and passenger vehicles across India in May 2025 also significantly bolstered revenue streams.
Future Outlook and Project Pipeline
Murarka expressed optimism about the revenue outlook in the coming months. “The sustained growth trajectory is encouraging and is expected to continue, supported by the expected completion of a few ongoing projects within our portfolio,” he said.
IRB Infrastructure boasts an extensive asset base exceeding Rs. 80,000 crore across 12 states. Its integrated approach to developing, operating, and maintaining toll roads positions it as a leading player in India’s infrastructure landscape. With the country’s burgeoning demand for efficient road networks, IRB’s toll revenue growth underscores both the resilience of the sector and the company’s pivotal role in India’s mobility ecosystem.
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