IRB Infrastructure Q3 Review - Sharp Uptick In Toll Revenue: Prabhudas Lilladher
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Prabhudas Lilladher Report
For IRB Infrastructure Developers Ltd., toll revenue witnessed a healthy 32% QoQ growth (across 13 projects) driven by sharp surge in passenger and commercial traffic.
Construction revenue rose 41% sequentially to Rs 11 billion, due to revival in execution momentum with labour force back to pre-Covid levels.
Company targets Rs 60-80 billion order inflows in Q4 FY21E on the back of strong NHAI bid pipeline.
Order book stands at Rs 113.1 billion (2.9x TTM revenues).
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