IRB Infrastructure Developers Limited has submitted to the Exchange, outcome of Board meeting held on February 13, 2026.
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On the reaction day the stock moved 4.0 pts less than Nifty Smallcap 250 and 3.5 pts less 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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IRB Infrastructure Developers reported Q3FY26 consolidated revenue from operations of Rs. 1,871 crore, down about 7.6% from Rs. 2,025 crore in Q3FY25, mainly due to lower construction revenue. Net profit before exceptional items rose 14% year-on-year to Rs. 253 crore, while reported profit after tax came in at Rs. 211 crore versus Rs. 6,026 crore a year ago (the prior year had a one-time Rs. 5,804 crore fair-value gain on InvIT assets). The Board approved a 1:1 bonus issue (subject to shareholder approval via postal ballot) and a third interim dividend of Rs. 0.07 per share, taking the nine-month dividend to 21%. A Rs. 42.65 crore exceptional charge was booked due to India's new Labour Codes. The company also approved a material related-party transaction to act as project manager for the TOT-18 project through IRB Chandibhadra Tollway, valued at up to Rs. 1,581.83 crore (Rs. 1,866.55 crore including GST), over a 20-year concession period.
Positive for shareholders due to the 1:1 bonus issue and steady dividend, though the year-on-year revenue dip reflects normalisation after an exceptional prior-year quarter. The large TOT-18 project mandate signals continued order inflow but is a related-party deal requiring shareholder approval.