The company's consolidated income Rs.1,995 crore; up 405%.

The company's Board of Directors approved transfer of the Vadodara Kim HAM project in the State of Gujarat at enterprise value of Rs.1,297 crores to IRB InvIT Fund. 

IRB Infrastructure Developers Ltd., India’s first integrated multinational infrastructure player in highways sector, has posted first quarter PAT at Rs.363 crore and consolidated income Rs.1,995 crore; up 405% and 19% YoY respectively for the first quarter ended 30th June 2022 of the financial year 2022-23, in a Board Meeting, held at Mumbai.

The company received Rs.308 Crs towards 75% of the total Arbitration Award (Compensation) of Rs.419 crore from the NHAI for its Pathankot Amritsar BOT project, which is part of the Public InvIT and Company was an EPC contractor for the project. 

The company's Board of Directors approved transfer of the Vadodara Kim HAM project in the State of Gujarat at enterprise value of Rs.1,297 crores to IRB InvIT Fund. 

Provisional COD for the project was received in Apr 2022. Post transfer of the project, debt to the extent of Rs.955 crores will be reduced from consolidated debt of IRB. Further, IRB will receive INR Rs.342 crores, subject to necessary approvals.