IRB InvIT Fund
- Market cap
- ₹ 7,819 Cr.
- P/E
- 31.9x
- P/B
- 0.97x
- 52-week range
- 57.05 – 65.25
- ROE
- 5%
- ROCE
- 7%
- Dividend yield
- 10%
- Debt / equity
- 1.15
- Sector
- Transport Infrastructure
- Industry
- Road AssetsToll, Annuity, Hybrid-Annuity
- Listed on
- NSE, BSE
About
IRB InvIT Fund is an India-based infrastructure investment trust. The Trust owns, operates, and maintains a portfolio of highway assets. It is an integrated private toll roads and highways infrastructure developer operating under Build- Operate-Transfer (BOT), Toll- Operate-Transfer (TOT) and Hybrid Annuity Model (HAM) segments. It primarily owns, operates and maintains a portfolio of six toll-road assets in the Indian states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu, Uttar Pradesh and Haryana. Its highway assets include Amritsar Pathankot NH54, Tumkur Chitradurga NH4, Jaipur Deoli NH1, Talegaon Amravati NH6, Omalur Salem Namakkal NH7, Vadodara Kim (Delhi Mumbai Expressway), Hapur Moradabad NH-9 (Uttar Pradesh), Kaithal Rajasthan Border NH-152/65 (Haryana) and Kishangarh Gulabpura NH-79A (Rajasthan). Its subsidiaries include IDAA Infrastructure Limited, IRB Talegaon Amravati Tollway Limited, IRB Jaipur Deoli Tollway Limited, IRB Surat Dahisar Tollway Limited and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Road AssetsToll, Annuity, Hybrid-Annuity: 17 companies →IRB InvIT Fund against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)31.9 against a typical 21.1: pricier than most peers (1st = cheapest).10th of 15
- Sales growth+69.1% against a typical +19.4% from a year earlier.3rd of 13
- Profit growth−21% against a typical +6.6% from a year earlier.6th of 9
- Share price, 3 months−1.5% against a typical −1.5%.8th of 15
- Size₹ 7,819 Cr. market value against a typical ₹ 6,855.2 Cr. (1st = largest).5th of 13
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | Withdrawn | Stable | 17 Apr 2026 |
| CARE | CARE AAA | Stable | 31 Mar 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 17 Apr 2026 | Withdrawn | was IND AAA | — | India Ratings | ₹ 10,357 Cr. | |
| 31 Mar 2026 | Reaffirmed | CARE AAA | — | CARE | ₹ 2,501.11 Cr. | |
| 16 Dec 2025 | Reaffirmed | IND AAA | — | India Ratings | ₹ 9,087 Cr. | |
| 24 Oct 2025 | Reaffirmed | IND AAA | — | India Ratings | ₹ 8,467 Cr. | |
| 13 Oct 2025 | Reaffirmed | IND AAA | — | India Ratings | ₹ 8,467 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 Oct 2026Upcoming | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2026 and other business matters |
| 26 Aug 2026 | Fund Raising | To consider Fund Raising |
| 23 Jul 2026 | Financial Results/Other business matters | To consider and approve the unaudited financial results for the period ended Jun 30, 2026 and other business matters |
| 2 Jul 2026 | Fund Raising | To consider Fund Raising |
| 15 May 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended March 31, 2026, and other business matters |
| 11 Feb 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 22 Dec 2025 | Fund Raising | Intimation of Board meeting of Investment Manager of IRB InvIT Fund to consider Fund Raising |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Dec 2022 | Jun 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 279 | 268 | 268 | 274 | 270 | 275 | 282 | 291 | 277 | 450 | 528 | 492 |
| Expenses | 77 | 42 | 73 | 47 | 46 | 51 | 49 | 46 | 45 | 78 | 140 | 96 |
| Operating Profit | 202 | 226 | 195 | 227 | 224 | 224 | 232 | 245 | 232 | 372 | 388 | 396 |
| OPM % | 72% | 84% | 73% | 83% | 83% | 81% | 82% | 84% | 84% | 83% | 74% | 81% |
| Other Income | 6 | 1 | 16 | 2 | 0 | 7 | 1 | 2 | 1 | −2 | 32 | 0 |
| Interest | 58 | 68 | 69 | 76 | 72 | 75 | 71 | 72 | 73 | 190 | 184 | 188 |
| Depreciation | 46 | 57 | 58 | 63 | 64 | 61 | 66 | 71 | 72 | 100 | 138 | 128 |
| Profit before tax | 103 | 102 | 84 | 89 | 88 | 94 | 97 | 103 | 89 | 80 | 99 | 80 |
| Tax % | 3% | 2% | 4% | 3% | 3% | 3% | 3% | 3% | 7% | 26% | 2% | 1% |
| Net Profit | 100 | 101 | 81 | 86 | 85 | 91 | 94 | 100 | 83 | 60 | 97 | 79 |
| EPS in Rs | 1.73 | 1.73 | 1.39 | 1.48 | 1.47 | 1.57 | 1.61 | 1.72 | 1.43 | 0.47 | 0.75 | 0.62 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 5%
- 3 Years
- 1%
- TTM
- 56%
- 10 Years
- —
- 5 Years
- 12%
- 3 Years
- −5%
- TTM
- −13%
- 10 Years
- —
- 5 Years
- 3%
- 3 Years
- −3%
- TTM
- —
- 10 Years
- —
- 5 Years
- 8%
- 3 Years
- 7%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| IRB InvIT Fund | ₹ 61.10 | ₹ 7,819 Cr. | 31.9x | 1x | 5% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 39x | 3.6x | 10% | 32% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 33.7x | 5.1x | 15.8% | 20.6% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.7x | 19.8% | 22% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 27.3x | 3.8x | — | 41.6% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 166x | 3.3x | 10.2% | 35.9% |
Management
- Jitender Nicmar Chauhan
- Chief Executive Officer, Whole-Time Director
- Rushabh Rakesh Gandhi
- Chief Financial Officer, Executive Director
- Swapna Vengurlekar Arya
- Compliance Officer, Company Secretary and Nodal Officer
Prices are delayed and for information only. Nothing on this page is investment advice.