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IRB Infrastructure Developers share price & results

IRB Infrastructure Developers Limited· Construction· Industrials

Results to
Jun 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

India's largest private highway developer, building and tolling roads under BOT/TOT/HAM concessions and via two InvIT platforms.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue1,230 ₹ crore−4.9% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin37.0 %+16.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit270 ₹ crore+92.9% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity4.83 %−1.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin18.53 %−4.8 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-2.20 %−2.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

2 of 8 judged targets kept · 8 open · verdicts reflect calls analysed to Q4 FY26.

IRB Infrastructure Developers Limited management guidance track record on Inve: 16 targets tracked across analysed earnings calls (2 achieved, 6 missed, 8 open).

TargetOriginal wordingSaidLatest callVerdict
Equity Unlocking from Asset Transfer₹8,000+ crores
Call transcript, Q3 FY25 · 1 Feb 2025		Q3 FY25Q4 FY26:Company confirms monetization in FY26 unlocked 'about ₹4,900 crores' of equity capital. This achieves the transaction but at the significantly lower revised value, missing the original ₹8,000+ crore target.
Call transcript, Q4 FY26 · 21 May 2026		Achieved*
Bidding Pipeline for H2 FY25₹37,000 crores
Call transcript, Q2 FY25 · 30 Oct 2024		Q2 FY25Q4 FY26:The promise remains missed. The focus has shifted to a new FY27 pipeline of ₹34,500 crores, confirming the H2 FY25 pipeline did not materialize as guided.
Call transcript, Q4 FY26 · 21 May 2026		Missed
Total Asset Baseapprox. ₹1,40,000 crores
Call transcript, Q4 FY26 · 21 May 2026		Q4 FY26Q4 FY26:Management stated: 'We remain on track to scale our asset base to approximately ₹1,40,000 crores over the next three years.'
Call transcript, Q4 FY26 · 21 May 2026		New

Source: Inve Guidance Tracker for IRB Infrastructure Developers Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of IRB Infrastructure Developers Limited's 16 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 13 more targets are in the full ledger.

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Price

₹15.8 −2.83% · −₹0.46

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −63.7% 1Y

₹20.0₹30.0₹40.0Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q4 FY26 — 21 May 2026

1Y: ₹43.52 on 24 Oct 2025 → ₹15.8. High ₹45.19 (3 Nov 2025), low ₹15.8 (27 Oct 2026).

Previous close
₹16.26
Market cap
₹19.1k Cr
52-week range
₹15.8 – ₹45.19
One year
−64.60%
Price to earnings (TTM to Jun 2026)
19.37×
Return on equity (TTM to Jun 2026)
4.83%

Overview

Symbol
NSE:IRB
Industry
Industrials
Exchange
NSE
Currency
INR

What IRB Infrastructure Developers Limited does

Based on the company's own presentations, annual report and earnings calls.

IRB develops, constructs and operates national highways in India under long-term concession models — Build-Operate-Transfer (BOT), Toll-Operate-Transfer (TOT) and Hybrid Annuity Model (HAM) — earning toll revenue from vehicles using its road network and annuity/construction income from NHAI. It also runs an in-house Engineering, Procurement and Construction (EPC) arm that builds and maintains roads for its own concessions and third parties, and it rotates completed assets into two InvIT platforms (a private InvIT and a listed public InvIT) in which it holds sponsor stakes and collects distributions. Roads are pan-India, concentrated in high-growth states, and toll collection is almost entirely electronic via FASTag.

Segments

  • BOT/TOT
  • InvIT and Related Assets
  • Construction (EPC)
Road portfolio (lane KM)
15,444 lane KM
States with presence
12 states
Highway asset base
Over INR 800 billion
Weighted average residual concession life
~21 years
Market share of pan-India toll revenue
~10%
Market share of TOT projects awarded to date
~33%
Founded 1998Headquarters Mumbai, Maharashtra, India Company website

How the price took the results

close before → close after

Q4 FY26
+8.1%
21 May

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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