IRB Infrastructure Developers Limited has informed the Exchange about Material Related Party Transaction to act as Project Manager for TOT-18 Project and execution of Project Implementation Agreement
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IRB Infrastructure Developers reported Q3FY26 consolidated total income of Rs.1,912 Crs and net profit (before exceptional items) of Rs.253 Crs, up 14% year-on-year. The Board declared a 3rd interim dividend of 7% (Re.0.07 per share), bringing total 9M FY26 dividends to 21%, and recommended a 1:1 bonus issue subject to shareholder approval via postal ballot. The Board also approved a Material Related Party Transaction to act as Project Manager for the TOT-18 Project (IRB Chandibhadra Tollway SPV) over a 20-year revenue-linked concession period, valued at up to Rs.1,581.83 Crs (~Rs.1,866.55 Crs including GST). Additionally, the company monetized 3 BOT assets and the VM7 HAM asset by transferring them to its InvITs, unlocking around Rs.5,413 Crs of equity and reducing debt by over Rs.700 Crs.
The 1:1 bonus issue increases share liquidity and rewards long-term holders, while the strong order book addition (TOT-17 and TOT-18 bundles worth ~Rs.14,000 Crs) and ongoing capital recycling via InvIT transfers support future revenue visibility. The related party project management contract adds a stable long-term revenue stream but requires shareholder approval, and the dividend plus bonus may lead to short-term positive sentiment on the stock.