Pre-tax profit stood at Rs 79.09 crore in Q2 September 2021 compared with pre-tax loss of Rs 4.67 crore in Q2 September 2020.

EBITDA rose 26% to Rs 757 crore in Q2 September 2021 over Q2 September 2020.

The company said that toll collections have witnessed pre-COVID-19 levels across almost all BOT assets (Mumbai Pune project revenue growth is 39% during the quarter as compared to corresponding quarter of the last year), with a meaningful pick-up in economic activity across the country.

The company achieved full Commercial Operation Date (COD) for its Chittorgarh Gulabpura BOT asset, thus, leading to 58% increase in tariff with commencement of toll collection at full rates.

The firm was awarded LoA for Rs 909 crore Chittoor Thachur six laning HAM project in Tamil Nadu with 20.060 Kms stretch between Pondavakkam to Kannigaipair.

IRB started commercial flights operations from the newly developed green-field Sindhudurg Airport in Maharashtra.

Virendra D. Mhaiskar, chairman & managing director of the company said: "Despite the impact of the second wave of the COVID-19 pandemic, the 2nd quarter was encouraging, as weachieved full COD for our Rajasthan BOT project, commenced commercial operations from Sindhudurg Airport,as well as bagged HAM project in Tamil Nadu and above all completed fund raising for the Private InvIT.” He further added, “With onset of Festival Season in India and more relaxations announced by the Govt., traffic movementis expected to significantly improve further resulting in much stronger H2FY22."

IRB Infrastructure Developers is the largest private roads and highways infrastructure developer in India, with an asset base of over Rs 55,000 crore across the parent company and two InvITs. The company has strong track record of constructing over 13,095lane kms pan India in 2 decades and has an ability to construct over 500 Kms in a year. It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. IRB Group's portfolio (including Private and Public InvIT) comprises of 24 projects in all, which includes 24 highway projects in 18 BOT, 1 TOT and 4 HAM space and 1 Airport project in Sindhudurg District of Maharashtra.

Meanwhile, IRB Infrastructure Developers on Tuesday said it will raise as much as Rs 5,347 crore from Spanish infrastructure group Ferrovial SA and Singapore's sovereign wealth fund GIC. Ferrovial's subsidiary Cintra Global SE will invest up to Rs 3,180 crore for a 24.9% stake in IRB Infrastructure, while GIC will invest up to Rs 2,167 crore for a 16.9% stake. The Indian firm will sell the shares at Rs 211.79 each to investors.

Virendra Mhaiskar, the founder of IRB, will continue as promoter and largest investor after completing the transactions, with approximately 34% stake and will retain management control of IRB.

The fund raising will help it pare debt and participate in the government's massive infrastructure development and monetization plan, IRB said.

Further, the company's board approved the sale of non-core assets of the company group to Virendra D. Mhaiskar, the promoter of the company to be effected within a period of two years, such that the aggregate consideration pursuant to both the transactions shall be not less than Rs 415 crore and not more than Rs 420 crore.

Shares of IRB Infra tumbled 7.40% to Rs 272.60. The stock hit a high of Rs 306.35 and a low of Rs 268 so far during the day.