IRB Infrastructure Developers Limited has informed the Exchange regarding an update in respect of Completion Certificate for Palsit Dankuni Project'.

Regulatory product approvalGuidance raisedBusiness Updates View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+1.3%Reaction day

₹24.00

prior close

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announcement price

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Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+0.8%+0.5% vs market

Civil Construction peers, median of 87sector+0.5%+0.8% vs sector

On the reaction day the stock moved 0.5 pts more than Nifty Smallcap 250 and 0.8 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Smallcap 250Sector · Civil Construction peers, median of 87Pending

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AI summary

IRB Infrastructure's project SPV, Palsit Dankuni Tollway Private Limited (under IRB Infrastructure Trust), has received the Completion Certificate (COD) from NHAI for 61.3 km out of 63.83 km of the 4-to-6 laning NH19 BOT project in West Bengal. With COD in hand, the SPV can now collect toll at revised rates, representing a ~47% increase over the previous tariff. Management expects this to boost annual toll collections by approximately Rs. 100 crore, based on Q1 FY25 trends. The project, with a total cost of Rs. 2,403 crores and a 17-year concession period, is IRB's first project in West Bengal.

Likely market impact

Positive for shareholders — the COD unlocks a meaningful step-up in toll revenue (~Rs. 100 crore annually) at higher rates, which should improve cash flows and returns from this SPV. The project is housed under IRB Infrastructure Trust (the InvIT), so the benefit flows to the trust and its unit holders, reinforcing IRB's toll-road portfolio earnings.