IRB Infrastructure: Difference between revisions

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{{short description|Indian road infrastructure company}}
{{Short description|Indian construction company}}
{{EngvarB|date=May 2014}}
{{Multiple issues|
{{Promotional|date=November 2024}}
{{Overly detailed|date=November 2024}}
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{{use Indian English|date=May 2014}}
{{Use dmy dates|date=May 2014}}
{{Use dmy dates|date=May 2014}}


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| type = Public company
| type = Public company
| traded_as = {{ubl|{{NSE|IRB}}|{{BSE|532947}}}}
| traded_as = {{ubl|{{NSE|IRB}}|{{BSE|532947}}}}
| founded = 27 July 1998
| founded = {{start date and age|27 July 1998}}
| location_city = IRB Complex, Andheri (East), [[Mumbai]]
| location_city = IRB Complex, Chandivali, Powai, [[Mumbai]]
| location_country = [[India]]
| location_country = India
| area_served =  
| area_served =  
| key_people = Virendra Dattatraya Mhaiskar <br /> {{small|(Chairman & MD)}} <br /> Sudhir Rao Hoshing <br /> {{small|(Joint MD)}} <br /> Ajay Deshmukh <br /> {{small|(CEO)}} <br /> Anil Yadav <br /> {{small|(CFO)}}
| key_people = Virendra D. Mhaiskar <br /> {{small|(Chairman & MD)}} <br />  
| industry = [[Conglomerate (company)|Conglomerate]]
| industry = [[Conglomerate (company)|Conglomerate]]
| products =  
| products =  
| services = Engineering & construction projects
| services = [[Engineering, Procurement and Construction]] (EPC)<br />
| revenue = {{profit}}{{INRConvert|1754|c}}<ref name="indiainfoline1">{{cite web|url=http://www.indiainfoline.com/Markets/News/IRB-Infrastructure-Developers/3041273620 |title=IRB Infrastructure Developers |publisher=Indiainfoline.com |date=3 May 2010 |access-date=11 September 2010}}</ref>
[[Build, Operate and Transfer]] (BOT)
| assets = {{INRConvert|2039.9|c}}<ref name="indiainfoline1"/>
| revenue = {{INRConvert|2750.27|c}}<ref>{{cite web |title=Stock share price of IRB Infrastructure |work=BSE India |url=https://www.bseindia.com/stock-share-price/irb-infrastructure-developers-ltd/irb/532947/ }}</ref>
| revenue_year = 2021
| net_income = {{INRConvert|188.51|c}}
| net_income_year = 2021
| assets =
| equity =  
| equity =  
| num_employees =  
| num_employees =  
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| subsid =  
| subsid =  
| caption =  
| caption =  
| homepage = {{URL|https://irb.co.in|irb.co.in}} <br />
| homepage = {{URL|https://www.irb.co.in}} <br>
{{URL|https://www.irbinvit.co.in/}}
{{URL|https://www.irbinvit.co.in/}}
| footnotes =  
| footnotes =  
| intl =  
| intl =  
}}
}}
'''IRB Infrastructure Developers Limited''', formerly ''IRB Infrastructure Developers Private Limited'', is an Indian highway construction company<ref name="business-standard1">{{cite web|url=http://www.business-standard.com/india/news/irb-is-driving-infast-lanehighway-development/407348/ |title=IRB is driving in the fast lane of highway development |publisher=Business-standard.com |access-date=11 September 2010}}</ref> headed by Virendra Dattatraya Mhaiskar. It was incorporated in 1998, with its headquarters in [[Mumbai]], [[Maharashtra]], [[India]].<ref>{{cite web |url=http://www.irb.co.in/contact.asp |title=Contact Us – IRB Infrastructure Developers Ltd. &#124; Roads &#124; Bridges &#124; Tunnels &#124; Toll Plaza &#124; Realty Business |publisher=Irb.co.in |access-date=6 May 2016 |archive-url=https://web.archive.org/web/20100209065351/http://www.irb.co.in/contact.asp |archive-date=9 February 2010 |url-status=dead }}</ref> It is part of the IRB Group and was ranked 200th in the [[Fortune India 500]] list in 2020.<ref>{{Cite web|title=IRB Infrastructure Developers – Fortune 500 List 2020 – Fortune India|url=https://www.fortuneindia.com/fortune-500/company-list/irb-infrastructure-developers?year=2020|access-date=2021-01-12|website=www.fortuneindia.com|language=en}}</ref> IRB Infrastructure, which executed the country's first build-operate-transfer (BOT) road project, is one of the largest operators of such ventures.<ref>{{cite web|url=http://m.thehindubusinessline.com/portfolio/firm-calls/irb-infrastructure-developers-on-the-growth-highway/article8206215.ece|title=IRB Infrastructure Developers: On the growth highway|publisher=Business-standard.com |access-date=11 September 2010}}</ref> Currently it has about 3,404 lane Km operational and about 2,330 lane Km under development.<ref>{{cite web|url=http://www.indiainfoline.com/Markets/News/IRB-Infrastructure-Developers/3214016344 |title=IRB Infrastructure Developers |publisher=Indiainfoline.com |access-date=11 September 2010}}</ref> Among its notable projects are the [[Mumbai Pune Expressway]] and the [[Ahmedabad Vadodara Expressway]].<ref name="business-standard1"/><ref name="IRBbid">{{cite news |title=IRB ties in record BOT road deal |url=http://www.pfie.com/irb-ties-in-record-bot-road-deal/21018416.article |year=2012|agency=Thomson Reuters |access-date=21 July 2013}}</ref> In 2012, IRB acquired Tamil Nadu based [[build-operate-transfer|BOT]] road builder MVR Infrastructure and Tollways for {{INR}}130&nbsp;[[crore]].<ref name="mvr">{{cite news|title=IRB Infra buys MVR Tollways for Rs.130 cr| url=http://www.thehindu.com/business/article3401348.ece|date=9 May 2012|agency=[[Press Trust of India]]|location=Mumbai|work=[[The Hindu]]|access-date=18 July 2012}}</ref><ref name="mvr2">{{cite news|title=IRB Infra acquires MVR Tollways for Rs 130 crore| url=http://articles.economictimes.indiatimes.com/2012-05-09/news/31641859_1_toll-collection-bot-construction-cost|date=9 May 2012|agency=[[Press Trust of India]]|location=Mumbai|work=Economic Times|access-date=21 July 2012}}</ref>


== Projects ==
'''IRB Infrastructure Developers Limited''' (formerly ''IRB Infrastructure Developers Private Limited'', '''I'''deal '''R'''oad '''B'''uilders) is an Indian highway construction company.<ref name="business-standard1">{{cite news|url=http://www.business-standard.com/india/news/irb-is-driving-infast-lanehighway-development/407348/ |title=IRB is driving in the fast lane of highway development |newspaper=Business Standard India |date=8 September 2010 |publisher=Business-standard.com |access-date=11 September 2010}}</ref> It was incorporated in 1998, with its headquarters in [[Mumbai]].<ref>{{cite web |url=http://www.irb.co.in/contact.asp |title=Contact Us – IRB Infrastructure Developers Ltd. &#124; Roads &#124; Bridges &#124; Tunnels &#124; Toll Plaza &#124; Realty Business |publisher=Irb.co.in |access-date=6 May 2016 |archive-url=https://web.archive.org/web/20100209065351/http://www.irb.co.in/contact.asp |archive-date=9 February 2010 |url-status=dead }}</ref> It is part of the IRB Group and headed by Virendra Dattatraya Mhaiskar.<ref>{{Cite web|title=IRB Infrastructure Developers – Fortune 500 List 2020 – Fortune India|url=https://www.fortuneindia.com/fortune-500/company-list/irb-infrastructure-developers?year=2020|access-date=2021-01-12|website=www.fortuneindia.com|language=en}}</ref> The company primarily operates build-operate-transfer (BOT) road projects.<ref>{{cite web|url=http://m.thehindubusinessline.com/portfolio/firm-calls/irb-infrastructure-developers-on-the-growth-highway/article8206215.ece|title=IRB Infrastructure Developers: On the growth highway|publisher=Business-standard.com |access-date=11 September 2010}}</ref> Currently, it has about 3,404 lane km operational and about 2,330 lane km under development.<ref>{{cite web|url=http://www.indiainfoline.com/Markets/News/IRB-Infrastructure-Developers/3214016344 |title=IRB Infrastructure Developers |publisher=Indiainfoline.com |access-date=11 September 2010}}</ref> Among its notable projects are the [[Mumbai-Pune Expressway]] and the [[Ahmedabad-Vadodara Expressway]].<ref name="business-standard1"/><ref name="IRBbid">{{cite news |title=IRB ties in record BOT road deal |url=http://www.pfie.com/irb-ties-in-record-bot-road-deal/21018416.article |year=2012 |agency=Thomson Reuters |access-date=21 July 2013 |archive-date=19 April 2015 |archive-url=https://web.archive.org/web/20150419084217/http://www.pfie.com/irb-ties-in-record-bot-road-deal/21018416.article |url-status=dead }}</ref>
IRB Infrastructures executed India's first ever BOT (build-operate-transfer) project, the [[Thane]]-[[Bhiwandi|Bhivandi]] Bypass. Over the years, BOT became their strength, and turned into one of the largest BOT portfolios (operational projects and projects under construction) in the country with a total length of around 12,000-lane km. In its kitty, IRB has difficult projects like the four-laning of the [[Goa]]-[[Karnataka]] border, [[Kundapur]] section of [[National Highway 17 (India)|NH17]], [[Agra]]-[[Etawah]] Bypass project,<ref>{{cite web|url=http://www.business-standard.com/article/news-cm/irb-infrastructure-developers-provides-update-on-thane-bhiwandi-bypass-project-117051601426_1.html|title=IRB Infrastructure Developers provides update on Thane Bhiwandi Bypass Project|publisher=Business Standard|access-date=May 16, 2016}}</ref> [[Udaipur]]-[[Rajasthan]] [[NH-8|NH8]] project,<ref>{{cite web|url=http://indiatoday.intoday.in/story/irb-starts-work-on-udaipur-rajasthan-gujarat-highway-project/1/1040626.html|title=IRB starts Work on Udaipur Rajasthan NH8 Project|publisher=India Today|access-date=September 4, 2017}}</ref> and [[Kaithal]] to Rajasthan NH152 project.<ref>{{cite web|url=http://www.thehindubusinessline.com/companies/irb-infra-bags-rs-2300cr-kaithalrajasthan-project/article5985090.ece|title=IRB Infra bag ₹2,300-cr Kaithal-Rajasthan Project|publisher=The Hindu BusianessLine|access-date=May 7, 2014}}</ref><ref name="IRB">{{cite web|url=http://www.irb.co.in/toll_completed.aspx|title=Completed BOT Projects|publisher=IRB}}</ref>


'''Mumbai-Pune Expressway'''
== History ==
IRB Infrastructure executed India's first ever BOT (build-operate-transfer) project, the [[Thane]]-[[Bhiwandi|Bhivandi]] Bypass. Over the years, its BOT portfolio (operational projects and projects under construction) in the country grew to a total length of around 12,000-lane km. IRB executed projects like the four-laning of the [[Goa]]-[[Karnataka]] border from [[Karwar]] to [[Kundapur]] section of [[National Highway 66 (India)|NH66]], [[Agra]]-[[Etawah]] Bypass project,<ref>{{cite web|url=http://www.business-standard.com/article/news-cm/irb-infrastructure-developers-provides-update-on-thane-bhiwandi-bypass-project-117051601426_1.html|title=IRB Infrastructure Developers provides update on Thane Bhiwandi Bypass Project|publisher=Business Standard|access-date=May 16, 2016}}</ref> [[Udaipur]]-[[Rajasthan]] [[NH-8|NH8]] project,<ref>{{cite web|url=https://www.indiatoday.in/pti-feed/story/irb-starts-work-on-udaipur-rajasthan-gujarat-highway-project-1037732-2017-09-04|title=IRB starts Work on Udaipur Rajasthan NH8 Project|date=4 September 2017 |publisher=India Today|access-date=September 4, 2017}}</ref> and [[Kaithal]] to Rajasthan NH152 project.<ref>{{cite web|url=http://www.thehindubusinessline.com/companies/irb-infra-bags-rs-2300cr-kaithalrajasthan-project/article5985090.ece|title=IRB Infra bag ₹2,300-cr Kaithal-Rajasthan Project|date=7 May 2014 |publisher=The Hindu BusianessLine|access-date=May 7, 2014}}</ref><ref name="IRB">{{cite web|url=http://www.irb.co.in/toll_completed.aspx|title=Completed BOT Projects|publisher=IRB|access-date=2 November 2016|archive-date=4 November 2016|archive-url=https://web.archive.org/web/20161104000949/http://www.irb.co.in/toll_completed.aspx|url-status=dead}}</ref>


IRB Infrastructure acquired the [[Mumbai–Pune Expressway|Mumbai-Pune Expressway]] and the Mumbai-Pune National Highway, which was concluded under the supervision of [[Maharashtra State Road Development Corporation]] (MSRDC).<ref>{{cite web|url=https://www.ibef.org/news/irb-wins-mumbai-pune-expressway-contract|title=IRB wins Mumbai-Pune expressway contract|publisher=India Brand Equity Foundation|access-date=September 10, 2014}}</ref><ref>{{cite web|url=https://www.outlookindia.com/outlookmoney/investment-ideas/endeavors-of-irb-infrastructure-developers-2019|title=Endeavors of IRB Infrastructure Developers|publisher=Outlook India|access-date=July 28, 2017}}</ref>
In 2009, IRB Infra won the bid to develop the [[Greenfield project|greenfield]] [[Sindhudurg Airport]] in the [[Sindhudurg]] district of Maharashtra on a build-operate-transfer basis.<ref name="winsairport">{{cite news|url=http://www.moneycontrol.com/news/business/irb-infra-wins-sindhudurg-airport-bid_409704.html|title=IRB Infra wins Sindhudurg airport bid|date=4 August 2009|access-date=18 July 2012|agency=MoneyControl}}</ref><ref name="irbairport">{{Cite web|url=http://www.irb.co.in/airport.aspx|title=Development Greenfield Airport in Sindhudurg District|work=IRB Infra|access-date=18 July 2012|archive-url=https://web.archive.org/web/20120629053432/http://www.irb.co.in/airport.aspx|archive-date=29 June 2012|url-status=dead}}</ref>


'''Chittorgarh And Gulabpura (six-laning project) (NH 79)'''
In July 2011, IRB Infrastructure signed an agreement to develop a 102.3&nbsp;km section in the Ahmedabad-Vadodara [[National Highway 8 (India, old numbering)|NH8]] into six lanes from the existing four lanes. The project also included improvement of a 93.302&nbsp;km section of the existing [[Ahmedabad–Vadodara Expressway|Ahmedabad – Vadodara Expressway]] (NE 1), on a Design Building Finance Operate and Transfer (DBFOT) basis.<ref>{{Cite news|url=https://www.indiainfoline.com/article/news-top-story/irb-infra-preferred-bidder-for-ahmedabad-vadodara-highway-project-113101906612_1.html|title=IRB Infra preferred bidder for Ahmedabad-Vadodara highway project|work=IIFL}}</ref><ref>{{Cite news|url=https://www.thehindubusinessline.com/economy/logistics/irb-infra-arm-inks-deal-for-ahmedabad-vadodara-expressway/article20309828.ece1|title=IRB Infra arm inks deal for Ahmedabad, Vadodara expressway|work=The Hindu Businessline}}</ref>


IRB achieved financial closure for its BOT project from [[Chittorgarh]] and [[Gulabpura]]. The project is an expansion of the 124.87-km section on NH79, converting from a four-lane to six-lane expressway. The concession period of this project is 20 years from the appointed date, including 910 days of construction, creating smoother transit.<ref>{{cite web|url=https://millionclues.com/guest-posts/six-lane-highway-irb-infrastructure/|title=Six-Lane Highway By IRB Infrastructure Developers To Create Smoother Transit Between Chittorgarh And Gulabpura|publisher=Millionclues|access-date=December 11, 2017}}</ref> The total funding for the project by company will be ₹690 [[crore]] and by SPV (Special Public Vehicle) tied banks will be ₹1,400 crore.<ref>{{cite web|url=http://www.thehindubusinessline.com/economy/logistics/irb-infra-achieves-financial-closure-for-rajasthan-project/article9907262.ece|title=IRB Infra achieves financial closure for Rajasthan project|access-date=Jan 8, 2018}}</ref>
In 2012, IRB acquired Tamil Nadu based [[build-operate-transfer|BOT]] road builder MVR Infrastructure and Tollways for {{INR}}130&nbsp;[[crore]].<ref name="mvr">{{cite news|title=IRB Infra buys MVR Tollways for Rs.130 cr| url=http://www.thehindu.com/business/article3401348.ece|date=9 May 2012|agency=[[Press Trust of India]]|location=Mumbai|work=[[The Hindu]]|access-date=18 July 2012}}</ref><ref name="mvr2">{{cite news|title=IRB Infra acquires MVR Tollways for Rs 130 crore| url=http://articles.economictimes.indiatimes.com/2012-05-09/news/31641859_1_toll-collection-bot-construction-cost| archive-url=https://web.archive.org/web/20140602200850/http://articles.economictimes.indiatimes.com/2012-05-09/news/31641859_1_toll-collection-bot-construction-cost| url-status=dead| archive-date=2 June 2014|date=9 May 2012|agency=[[Press Trust of India]]|location=Mumbai|work=Economic Times|access-date=21 July 2012}}</ref>


'''Kaithal Rajasthan Project (NH 65)'''
IRB Infrastructure acquired the [[Mumbai–Pune Expressway|Mumbai-Pune Expressway]] and the Mumbai-Pune National Highway, which was concluded under the supervision of [[Maharashtra State Road Development Corporation]] (MSRDC).<ref>{{cite web|url=https://www.ibef.org/news/irb-wins-mumbai-pune-expressway-contract|title=IRB wins Mumbai-Pune expressway contract|publisher=India Brand Equity Foundation|access-date=September 10, 2014}}</ref><ref>{{cite web|url=https://www.outlookindia.com/outlookmoney/investment-ideas/endeavors-of-irb-infrastructure-developers-2019|title=Endeavors of IRB Infrastructure Developers|publisher=Outlook India|access-date=July 28, 2017}}</ref>
 
IRB Infrastructure developed the Kaithal-Rajasthan project (NH65). The 166.26&nbsp;km-long highway became operational in 2017, and has 20.90&nbsp;km of service road, 18 pedestrian underpasses, 5 vehicular underpasses, 5 flyovers, 13 small bridges, 71 intersections, 241 culverts and railways over bridges. The cost of production for project was ₹2,290 crore, including a viability gap funding of ₹234 crore.<ref>{{cite web|url=http://pressroom.today/press-release/irb-infrastructure-kaithal-rajasthan/|title=Kaithal-Rajasthan four-lane highway is now open for vehicular traffic|publisher=Pressroom.today|access-date=Sep 12, 2017}}</ref>
 
=== Ahmedabad -Vadodara ===
On July 2011, IRB Infrastructure signed an agreement to develop a 102.3&nbsp;km section in the Ahmedabad-Vadodara [[National Highway 8 (India, old numbering)|NH8]] into six lanes from the existing two lanes. The project also included improvement of a 93.302&nbsp;km section of the existing [[Ahmedabad–Vadodara Expressway|Ahmedabad – Vadodara Expressway]] (NE 1), on a Design Building Finance Operate and Transfer (DBFOT) basis.<ref>{{Cite news|url=https://www.indiainfoline.com/article/news-top-story/irb-infra-preferred-bidder-for-ahmedabad-vadodara-highway-project-113101906612_1.html|title=IRB Infra preferred bidder for Ahmedabad-Vadodara highway project|work=IIFL}}</ref><ref>{{Cite news|url=https://www.thehindubusinessline.com/economy/logistics/irb-infra-arm-inks-deal-for-ahmedabad-vadodara-expressway/article20309828.ece1|title=IRB Infra arm inks deal for Ahmedabad, Vadodara expressway|work=The Hindu Businessline}}</ref>
 
=== HAM projects ===
In  March 2018, IRB Infrastructure won two hybrid annuity projects under NHDP phase IV in the state of [[Tamil Nadu]], which included the four laning of NH-45A [[Pondicherry|Puducherry]] to Poondiyankuppam and Poondiyankuppam to Sattanathapuram at a cost of ₹2,169 crore at a cost of ₹1,296 crore.{{clarify|date=July 2020}} The construction period is 730 days and the operation period is 15 years for the said projects.<ref>{{cite web|url=https://www.moneycontrol.com/news/business/stocks/irb-infrastructure-rises-3-on-projects-win-in-tamil-nadu-2527557.html|title=IRB Infrastructure rises 3% on projects win in Tamil Nadu|publisher=Moneycontrol|access-date=Mar 14, 2018}}</ref><ref>{{cite web|url=http://www.business-standard.com/article/news-cm/irb-infra-gains-after-bagging-two-projects-in-tamil-nadu-118031400372_1.html|title=IRB Infra gains after bagging two projects in Tamil Nadu|publisher=Business Standard|access-date=Mar 14, 2018}}</ref>


The company also received a letter of award on from the [[National Highways Authority of India]] for a hybrid annuity project worth ₹1,640 crore under the National Highways Development Project phase VI in Gujarat. The order came after the company had emerged as the preferred bidder for the construction of the eight-lane [[Vadodara]] Kim expressway from Padra to Vadodara section of the Vadodara-Mumbai Expressway in Gujarat.<ref>{{cite web|url=https://timesofindia.indiatimes.com/business/india-business/irb-infra-bags-road-project-worth-rs-2043-crore-from-nhai-in-gujarat/articleshow/63361817.cms|title=IRB Infra bags road project worth Rs 2,043 crore from NHAI in Gujarat|publisher=Times of India|access-date=Mar 19, 2018}}</ref><ref>{{cite web|url=https://www.thehindubusinessline.com/companies/irb-infra-bags-road-project-worth-rs-2043-cr-from-nhai-in-guj/article23290813.ece|title=IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat|publisher=The Hindu BusinessLine|access-date=March 19, 2018}}</ref>
IRB Infrastructure Developers Ltd. signed a contract worth ₹2,100 crore from NHAI for a six-lane project in Rajasthan and Gujarat. The project is to be developed on design, built, finance, operate and transfer (DBFOT) under the National Highways Development Programme (NHDP) phase V.<ref name="Business Standard">{{cite news|url=http://www.business-standard.com/article/companies/irb-infra-bags-rs-2-100-crore-rajasthan-gujarat-nhai-project-116073100206_1.html|title= IRB infra bags Rs 2100 crore Rajasthan Gujarat Nhai project |newspaper= Business Standard India |date= 31 July 2016 |publisher=Business Standard}}</ref>


In 2009, IRB Infra won the bid to develop the [[Greenfield project|greenfield]] [[Sindhudurg Airport]] in the [[Sindhudurg]] district of Maharashtra on a build-operate-transfer basis.<ref name="winsairport">{{cite news|url=http://www.moneycontrol.com/news/business/irb-infra-wins-sindhudurg-airport-bid_409704.html|title=IRB Infra wins Sindhudurg airport bid|date=4 August 2009|access-date=18 July 2012|agency=MoneyControl}}</ref><ref name="irbairport">{{Cite web|url=http://www.irb.co.in/airport.aspx|title=Development Greenfield Airport in Sindhudurg District|work=IRB Infra|access-date=18 July 2012|archive-url=https://web.archive.org/web/20120629053432/http://www.irb.co.in/airport.aspx|archive-date=29 June 2012|url-status=dead}}</ref>
IRB achieved financial closure for its BOT project from [[Chittorgarh]] and [[Gulabpura]]. The project is an expansion of the 124.87-km section on NH79, converting from a four-lane to six-lane expressway. The concession period of this project is 20 years from the appointed date, including 910 days of construction, creating smoother transit.<ref>{{cite web|url=https://millionclues.com/guest-posts/six-lane-highway-irb-infrastructure/|title=Six-Lane Highway By IRB Infrastructure Developers To Create Smoother Transit Between Chittorgarh And Gulabpura|date=10 December 2017|publisher=Millionclues|access-date=December 11, 2017}}</ref> The total funding for the project by company will be ₹690 [[crore]] and by SPV (Special Public Vehicle) tied banks will be ₹1,400 crore.<ref>{{cite web|url=http://www.thehindubusinessline.com/economy/logistics/irb-infra-achieves-financial-closure-for-rajasthan-project/article9907262.ece|title=IRB Infra achieves financial closure for Rajasthan project|date=16 October 2017 |access-date=Jan 8, 2018}}</ref>


IRB Infrastructure Developers Ltd. has been acknowledged for its overall excellence and proficiency in the form of various awards and accolades. Virendra D. Mhaiskar, Chairman and Managing Director of IRB, was conferred with the “''Young Turk of the Year''” award at the 6th Edition of CNBC TV 18 India Business Leader Awards on 11 December 2010 at Mumbai.<ref name="bestmediainfo">{{cite web|url= http://www.bestmediainfo.com/2010/12/cnbc-tv18-gives-away-india-business-leader-awards-2010/ |title= CNBC-TV18 Gives Away India Business Award 2010 |publisher=bestmediainfo.com|access-date=14 December 2010}}</ref>
IRB Infrastructure developed the Kaithal-Rajasthan project (NH65). The 166.26&nbsp;km-long highway became operational in 2017, and has 20.90&nbsp;km of service road, 18 pedestrian underpasses, 5 vehicular underpasses, 5 flyovers, 13 small bridges, 71 intersections, 241 culverts and railways over bridges. The cost of production for project was ₹2,290 crore, including a viability gap funding of ₹234 crore.<ref>{{cite web|url=http://pressroom.today/press-release/irb-infrastructure-kaithal-rajasthan/|title=Kaithal-Rajasthan four-lane highway is now open for vehicular traffic|date=12 September 2017|publisher=Pressroom.today|access-date=Sep 12, 2017}}</ref>


The company was given the CNBC TV 18 Essar Steel Infrastructure Excellence Award for the second time for its high quality work implemented on the Bharuch to Surat section of NH-8 under Highways and Bridges Category. The company also won the CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai-Pune section of NH-4 in 2009.<ref name="Indiamart">{{cite web|url=http://www.indiamart.com/irb-infrastructure/aboutus.html|title= About Irb Infrastructure Developers Limited |publisher=Indiamart|access-date = 20 December 2010}}</ref><ref>{{Cite web|url=https://www.leaderbiography.com/virendra-d-mhaiskars-journey-on-indian-road-and-highways/|title=Indian road and highways, Virendra D Mhaiskar's Journey}}</ref>
In March 2018, IRB Infrastructure won two hybrid annuity projects under NHDP phase IV in the state of [[Tamil Nadu]], which included the four laning of NH-45A [[Puducherry (city)|Puducherry]] to Poondiyankuppam and Poondiyankuppam to Sattanathapuram at a cost of ₹2,169 crore at a cost of ₹1,296 crore.{{clarify|date=July 2020}} The construction period is 730 days and the operation period is 15 years for the said projects.<ref>{{cite web|url=https://www.moneycontrol.com/news/business/stocks/irb-infrastructure-rises-3-on-projects-win-in-tamil-nadu-2527557.html|title=IRB Infrastructure rises 3% on projects win in Tamil Nadu|date=14 March 2018 |publisher=Moneycontrol|access-date=Mar 14, 2018}}</ref><ref>{{cite news|url=http://www.business-standard.com/article/news-cm/irb-infra-gains-after-bagging-two-projects-in-tamil-nadu-118031400372_1.html|title=IRB Infra gains after bagging two projects in Tamil Nadu|newspaper=Business Standard India|date=14 March 2018|publisher=Business Standard|access-date=Mar 14, 2018|last1=Market|first1=Capital}}</ref>


IRB Infrastructure Developers Ltd. signed a contract worth ₹2,100 crore from NHAI for a six-lane project in Rajasthan and Gujarat. The project is to be developed on design, built, finance, operate and transfer (DBFOT) under the National Highways Development Programme (NHDP) phase V.<ref name="Business Standard">{{cite web|url=http://www.business-standard.com/article/companies/irb-infra-bags-rs-2-100-crore-rajasthan-gujarat-nhai-project-116073100206_1.html|title= IRB infra bags Rs 2100 crore Rajasthan Gujarat Nhai project |publisher=Business Standard}}</ref>
The company also received a letter of award on from the [[National Highways Authority of India]] for a hybrid annuity project worth ₹1,640 crore under the National Highways Development Project phase VI in Gujarat. The order came after the company had emerged as the preferred bidder for the construction of the eight-lane [[Vadodara]] Kim expressway from Padra to Vadodara section of the Vadodara-Mumbai Expressway in Gujarat.<ref>{{cite news|url=https://timesofindia.indiatimes.com/business/india-business/irb-infra-bags-road-project-worth-rs-2043-crore-from-nhai-in-gujarat/articleshow/63361817.cms|title=IRB Infra bags road project worth Rs 2,043 crore from NHAI in Gujarat|newspaper=Times of India|date=19 March 2018 |access-date=Mar 19, 2018}}</ref><ref>{{cite web|url=https://www.thehindubusinessline.com/companies/irb-infra-bags-road-project-worth-rs-2043-cr-from-nhai-in-guj/article23290813.ece|title=IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat|date=19 March 2018 |publisher=The Hindu BusinessLine|access-date=March 19, 2018}}</ref>


IRB Infrastructure Ltd won the Construction Times 2017 Award under the Best Executed Highway Project of the Year category for building the Ahmedabad–Vadodara Expressway Project.<ref name="News Azure">{{cite web|url=https://newsazure.com/news/irb-infrastructures-ahmedabad-vadodara-expressway-project-34111.html|title= Another Jewel in the Crown: IRB Infrastructure’s Ahmedabad-Vadodara expressway project conferred with Construction Times Award 2017 for the ‘Best Executed Project of the Year’|publisher=News Azure|access-date =October 17, 2017}}</ref>
The company got the contract (3 out of 12 packages) of [[Ganga Expressway]], the longest under-construction expressway in [[Uttar Pradesh]].<ref>{{Cite news|url=https://timesofindia.indiatimes.com/city/lucknow/ganga-e-way-to-be-built-by-adani-group-irb-infra/articleshow/88060103.cms|title = Adani: Uttar Pradesh: Ganga expressway to be built by Adani Group, IRB Infrastructure &#124; Lucknow News - Times of India|website = [[The Times of India]]| date=3 December 2021 }}</ref>


== IRB InvIT Fund ==
== IRB InvIT Fund ==
Line 74: Line 73:
# Omalur – Salem – Namakkal NH 7 Project
# Omalur – Salem – Namakkal NH 7 Project
# Talegaon – Amravati NH 6 Project
# Talegaon – Amravati NH 6 Project
# Pathankot – Amritsar NH 15 Project
# Pathankot – Amritsar (Punjab) NH 15 Project
# Kishangarh – Gualbpura (Rajasthan) NH 79 Project
# Gualbpura - Chittorgarh (Rajasthan) NH 79 Project
# Palsit – Dankuni (West Bengal) NH 19 Project


== Controversy ==
== Controversy ==
In April 2018, Virendra Mhaiskar, the chairman and managing director of IRB Infrastructure, and all other officials got a clean chit from CBI<ref>{{Cite news|url=http://www.dailypioneer.com/nation/rti-activists-murder-irb-infra-chief-others-get-clean-chit-from-cbi.html|title=RTI ACTIVIST’S MURDER: IRB INFRA CHIEF, OTHERS GET CLEAN CHIT FROM CBI|date=17 April 2018|work=The Daily Pioneer}}</ref> with regards to any sort of involvement in the murder of RTI activist [[Satish Shetty]]. They were summoned in May 2012 by the [[Central Bureau of Investigation|CBI]], suspecting a connection with the case. During the investigation, CBI had asked Virendra Mhaiskar and other suspects to undergo a polygraph test. Mhaiskar along with the company officials had to undergo the polygraph test.<ref name="summons">{{cite news|url=http://www.thehindubusinessline.com/markets/article3381030.ece|title=IRB Infra plunges as CBI summons its Chairman|date=3 May 2012|access-date=22 July 2012|agency=[[The Hindu]]|location=Mumbai}}</ref>
In April 2018, Virendra Mhaiskar, the chairman and managing director of IRB Infrastructure, and all other officials got a clean chit from CBI<ref>{{Cite news|url=http://www.dailypioneer.com/nation/rti-activists-murder-irb-infra-chief-others-get-clean-chit-from-cbi.html|title=RTI ACTIVIST'S MURDER: IRB INFRA CHIEF, OTHERS GET CLEAN CHIT FROM CBI|date=17 April 2018|work=The Daily Pioneer}}</ref> with regards to any sort of involvement in the murder of RTI activist [[Satish Shetty]]. They were summoned in May 2012 by the [[Central Bureau of Investigation|CBI]], suspecting a connection with the case. During the investigation, CBI had asked Virendra Mhaiskar and other suspects to undergo a polygraph test. Mhaiskar along with the company officials had to undergo the polygraph test.<ref name="summons">{{cite news|url=http://www.thehindubusinessline.com/markets/article3381030.ece|title=IRB Infra plunges as CBI summons its Chairman|date=3 May 2012|access-date=22 July 2012|agency=[[The Hindu]]|location=Mumbai}}</ref>
 
==Recognition==
 
Virendra D. Mhaiskar, chairman and managing director of IRB, was conferred with the “''Young Turk of the Year''” award at the 6th Edition of CNBC TV 18 India Business Leader Awards on 11 December 2010 at Mumbai.<ref name="bestmediainfo">{{cite web|url= http://www.bestmediainfo.com/2010/12/cnbc-tv18-gives-away-india-business-leader-awards-2010/ |title= CNBC-TV18 Gives Away India Business Award 2010 |publisher=bestmediainfo.com|access-date=14 December 2010}}</ref>
 
The company was given the CNBC TV 18 Essar Steel Infrastructure Excellence Award for the second time for its high quality work implemented on the Bharuch to Surat section of NH-8 under Highways and Bridges Category. The company also won the CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai-Pune section of NH-4 in 2009.<ref name="Indiamart">{{cite web|url=http://www.indiamart.com/irb-infrastructure/aboutus.html|title= About Irb Infrastructure Developers Limited |publisher=Indiamart|access-date = 20 December 2010}}</ref><ref>{{Cite web|url=https://www.leaderbiography.com/virendra-d-mhaiskars-journey-on-indian-road-and-highways/|title=Indian road and highways, Virendra D Mhaiskar's Journey|date=27 December 2018}}</ref>
 
IRB Infrastructure Ltd won the Construction Times 2017 Award under the Best Executed Highway Project of the Year category for building the Ahmedabad–Vadodara Expressway Project.<ref name="News Azure">{{cite web|url=https://newsazure.com/news/irb-infrastructures-ahmedabad-vadodara-expressway-project-34111.html|title=Another Jewel in the Crown: IRB Infrastructure's Ahmedabad-Vadodara expressway project conferred with Construction Times Award 2017 for the 'Best Executed Project of the Year'|publisher=News Azure|access-date=October 17, 2017|archive-date=12 December 2017|archive-url=https://web.archive.org/web/20171212193245/https://newsazure.com/news/irb-infrastructures-ahmedabad-vadodara-expressway-project-34111.html|url-status=dead}}</ref>


== References ==
== References ==
Line 89: Line 99:
[[Category:Indian companies established in 1998]]
[[Category:Indian companies established in 1998]]
[[Category:1998 establishments in Maharashtra]]
[[Category:1998 establishments in Maharashtra]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Latest revision as of 11:46, 25 November 2025



IRB Infrastructure Developers Limited
Traded as
IndustryConglomerate
Founded27 July 1998; 28 years ago (27 July 1998)
Headquarters
IRB Complex, Chandivali, Powai, Mumbai
,
India
Key people
Virendra D. Mhaiskar
(Chairman & MD)
ServicesEngineering, Procurement and Construction (EPC)
Build, Operate and Transfer (BOT)
Revenue₹2,750.27 crore (US$390 million)[1] (2021)
₹188.51 crore (US$26 million) (2021)
Websitewww.irb.co.in
www.irbinvit.co.in

IRB Infrastructure Developers Limited (formerly IRB Infrastructure Developers Private Limited, Ideal Road Builders) is an Indian highway construction company.[2] It was incorporated in 1998, with its headquarters in Mumbai.[3] It is part of the IRB Group and headed by Virendra Dattatraya Mhaiskar.[4] The company primarily operates build-operate-transfer (BOT) road projects.[5] Currently, it has about 3,404 lane km operational and about 2,330 lane km under development.[6] Among its notable projects are the Mumbai-Pune Expressway and the Ahmedabad-Vadodara Expressway.[2][7]

History[edit | edit source]

IRB Infrastructure executed India's first ever BOT (build-operate-transfer) project, the Thane-Bhivandi Bypass. Over the years, its BOT portfolio (operational projects and projects under construction) in the country grew to a total length of around 12,000-lane km. IRB executed projects like the four-laning of the Goa-Karnataka border from Karwar to Kundapur section of NH66, Agra-Etawah Bypass project,[8] Udaipur-Rajasthan NH8 project,[9] and Kaithal to Rajasthan NH152 project.[10][11]

In 2009, IRB Infra won the bid to develop the greenfield Sindhudurg Airport in the Sindhudurg district of Maharashtra on a build-operate-transfer basis.[12][13]

In July 2011, IRB Infrastructure signed an agreement to develop a 102.3 km section in the Ahmedabad-Vadodara NH8 into six lanes from the existing four lanes. The project also included improvement of a 93.302 km section of the existing Ahmedabad – Vadodara Expressway (NE 1), on a Design Building Finance Operate and Transfer (DBFOT) basis.[14][15]

In 2012, IRB acquired Tamil Nadu based BOT road builder MVR Infrastructure and Tollways for ₹130 crore.[16][17]

IRB Infrastructure acquired the Mumbai-Pune Expressway and the Mumbai-Pune National Highway, which was concluded under the supervision of Maharashtra State Road Development Corporation (MSRDC).[18][19]

IRB Infrastructure Developers Ltd. signed a contract worth ₹2,100 crore from NHAI for a six-lane project in Rajasthan and Gujarat. The project is to be developed on design, built, finance, operate and transfer (DBFOT) under the National Highways Development Programme (NHDP) phase V.[20]

IRB achieved financial closure for its BOT project from Chittorgarh and Gulabpura. The project is an expansion of the 124.87-km section on NH79, converting from a four-lane to six-lane expressway. The concession period of this project is 20 years from the appointed date, including 910 days of construction, creating smoother transit.[21] The total funding for the project by company will be ₹690 crore and by SPV (Special Public Vehicle) tied banks will be ₹1,400 crore.[22]

IRB Infrastructure developed the Kaithal-Rajasthan project (NH65). The 166.26 km-long highway became operational in 2017, and has 20.90 km of service road, 18 pedestrian underpasses, 5 vehicular underpasses, 5 flyovers, 13 small bridges, 71 intersections, 241 culverts and railways over bridges. The cost of production for project was ₹2,290 crore, including a viability gap funding of ₹234 crore.[23]

In March 2018, IRB Infrastructure won two hybrid annuity projects under NHDP phase IV in the state of Tamil Nadu, which included the four laning of NH-45A Puducherry to Poondiyankuppam and Poondiyankuppam to Sattanathapuram at a cost of ₹2,169 crore at a cost of ₹1,296 crore.[clarification needed] The construction period is 730 days and the operation period is 15 years for the said projects.[24][25]

The company also received a letter of award on from the National Highways Authority of India for a hybrid annuity project worth ₹1,640 crore under the National Highways Development Project phase VI in Gujarat. The order came after the company had emerged as the preferred bidder for the construction of the eight-lane Vadodara Kim expressway from Padra to Vadodara section of the Vadodara-Mumbai Expressway in Gujarat.[26][27]

The company got the contract (3 out of 12 packages) of Ganga Expressway, the longest under-construction expressway in Uttar Pradesh.[28]

IRB InvIT Fund[edit | edit source]

IRB InvIT is India's first Infrastructure Investment trust sponsored by IRB Infrastructure Developers Ltd.[29] Projects managed by IRB InvIT include:[30][31]

  1. Surat– Dahisar NH 8 Project
  2. Tumkur to Chitradurga NH 4 Project
  3. Bharuch – Surat NH 8 Project
  4. Jaipur – Deoli NH 12 Project
  5. Omalur – Salem – Namakkal NH 7 Project
  6. Talegaon – Amravati NH 6 Project
  7. Pathankot – Amritsar (Punjab) NH 15 Project
  8. Kishangarh – Gualbpura (Rajasthan) NH 79 Project
  9. Gualbpura - Chittorgarh (Rajasthan) NH 79 Project
  10. Palsit – Dankuni (West Bengal) NH 19 Project

Controversy[edit | edit source]

In April 2018, Virendra Mhaiskar, the chairman and managing director of IRB Infrastructure, and all other officials got a clean chit from CBI[32] with regards to any sort of involvement in the murder of RTI activist Satish Shetty. They were summoned in May 2012 by the CBI, suspecting a connection with the case. During the investigation, CBI had asked Virendra Mhaiskar and other suspects to undergo a polygraph test. Mhaiskar along with the company officials had to undergo the polygraph test.[33]

Recognition[edit | edit source]

Virendra D. Mhaiskar, chairman and managing director of IRB, was conferred with the “Young Turk of the Year” award at the 6th Edition of CNBC TV 18 India Business Leader Awards on 11 December 2010 at Mumbai.[34]

The company was given the CNBC TV 18 Essar Steel Infrastructure Excellence Award for the second time for its high quality work implemented on the Bharuch to Surat section of NH-8 under Highways and Bridges Category. The company also won the CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai-Pune section of NH-4 in 2009.[35][36]

IRB Infrastructure Ltd won the Construction Times 2017 Award under the Best Executed Highway Project of the Year category for building the Ahmedabad–Vadodara Expressway Project.[37]

References[edit | edit source]

  1. ↑ "Stock share price of IRB Infrastructure". BSE India.
  2. ↑ 2.0 2.1 "IRB is driving in the fast lane of highway development". Business Standard India. Business-standard.com. 8 September 2010. Retrieved 11 September 2010.
  3. ↑ "Contact Us – IRB Infrastructure Developers Ltd. | Roads | Bridges | Tunnels | Toll Plaza | Realty Business". Irb.co.in. Archived from the original on 9 February 2010. Retrieved 6 May 2016.
  4. ↑ "IRB Infrastructure Developers – Fortune 500 List 2020 – Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
  5. ↑ "IRB Infrastructure Developers: On the growth highway". Business-standard.com. Retrieved 11 September 2010.
  6. ↑ "IRB Infrastructure Developers". Indiainfoline.com. Retrieved 11 September 2010.
  7. ↑ "IRB ties in record BOT road deal". Thomson Reuters. 2012. Archived from the original on 19 April 2015. Retrieved 21 July 2013.
  8. ↑ "IRB Infrastructure Developers provides update on Thane Bhiwandi Bypass Project". Business Standard. Retrieved 16 May 2016.
  9. ↑ "IRB starts Work on Udaipur Rajasthan NH8 Project". India Today. 4 September 2017. Retrieved 4 September 2017.
  10. ↑ "IRB Infra bag ₹2,300-cr Kaithal-Rajasthan Project". The Hindu BusianessLine. 7 May 2014. Retrieved 7 May 2014.
  11. ↑ "Completed BOT Projects". IRB. Archived from the original on 4 November 2016. Retrieved 2 November 2016.
  12. ↑ "IRB Infra wins Sindhudurg airport bid". MoneyControl. 4 August 2009. Retrieved 18 July 2012.
  13. ↑ "Development Greenfield Airport in Sindhudurg District". IRB Infra. Archived from the original on 29 June 2012. Retrieved 18 July 2012.
  14. ↑ "IRB Infra preferred bidder for Ahmedabad-Vadodara highway project". IIFL.
  15. ↑ "IRB Infra arm inks deal for Ahmedabad, Vadodara expressway". The Hindu Businessline.
  16. ↑ "IRB Infra buys MVR Tollways for Rs.130 cr". The Hindu. Mumbai. Press Trust of India. 9 May 2012. Retrieved 18 July 2012.
  17. ↑ "IRB Infra acquires MVR Tollways for Rs 130 crore". Economic Times. Mumbai. Press Trust of India. 9 May 2012. Archived from the original on 2 June 2014. Retrieved 21 July 2012.
  18. ↑ "IRB wins Mumbai-Pune expressway contract". India Brand Equity Foundation. Retrieved 10 September 2014.
  19. ↑ "Endeavors of IRB Infrastructure Developers". Outlook India. Retrieved 28 July 2017.
  20. ↑ "IRB infra bags Rs 2100 crore Rajasthan Gujarat Nhai project". Business Standard India. Business Standard. 31 July 2016.
  21. ↑ "Six-Lane Highway By IRB Infrastructure Developers To Create Smoother Transit Between Chittorgarh And Gulabpura". Millionclues. 10 December 2017. Retrieved 11 December 2017.
  22. ↑ "IRB Infra achieves financial closure for Rajasthan project". 16 October 2017. Retrieved 8 January 2018.
  23. ↑ "Kaithal-Rajasthan four-lane highway is now open for vehicular traffic". Pressroom.today. 12 September 2017. Retrieved 12 September 2017.
  24. ↑ "IRB Infrastructure rises 3% on projects win in Tamil Nadu". Moneycontrol. 14 March 2018. Retrieved 14 March 2018.
  25. ↑ Market, Capital (14 March 2018). "IRB Infra gains after bagging two projects in Tamil Nadu". Business Standard India. Business Standard. Retrieved 14 March 2018.
  26. ↑ "IRB Infra bags road project worth Rs 2,043 crore from NHAI in Gujarat". Times of India. 19 March 2018. Retrieved 19 March 2018.
  27. ↑ "IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat". The Hindu BusinessLine. 19 March 2018. Retrieved 19 March 2018.
  28. ↑ "Adani: Uttar Pradesh: Ganga expressway to be built by Adani Group, IRB Infrastructure | Lucknow News - Times of India". The Times of India. 3 December 2021.
  29. ↑ deepak. "Sponsor & Project Manager". IRB InvIT. Retrieved 7 March 2021.
  30. ↑ deepak. "Projects". IRB InvIT. Retrieved 7 March 2021.
  31. ↑ Oberoi, Rahul. "First ever InvIT listing: IRB InvIT debuts with small premium at Rs 103.25 on BSE". The Economic Times. Retrieved 7 March 2021.
  32. ↑ "RTI ACTIVIST'S MURDER: IRB INFRA CHIEF, OTHERS GET CLEAN CHIT FROM CBI". The Daily Pioneer. 17 April 2018.
  33. ↑ "IRB Infra plunges as CBI summons its Chairman". Mumbai. The Hindu. 3 May 2012. Retrieved 22 July 2012.
  34. ↑ "CNBC-TV18 Gives Away India Business Award 2010". bestmediainfo.com. Retrieved 14 December 2010.
  35. ↑ "About Irb Infrastructure Developers Limited". Indiamart. Retrieved 20 December 2010.
  36. ↑ "Indian road and highways, Virendra D Mhaiskar's Journey". 27 December 2018.
  37. ↑ "Another Jewel in the Crown: IRB Infrastructure's Ahmedabad-Vadodara expressway project conferred with Construction Times Award 2017 for the 'Best Executed Project of the Year'". News Azure. Archived from the original on 12 December 2017. Retrieved 17 October 2017.
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