IRB Infrastructure Developers Ltd. is a leading infrastructure development and construction company in India, renowned for its expertise in the roads and highways sector. Established in 1998, it operates under the IRB Group and is headquartered in Mumbai. Over the years, the company has built a reputation as a pioneer in the infrastructure industry, particularly through its Build-Operate-Transfer (BOT) projects. With an extensive portfolio of 26 highway projects spanning 12 states and an asset base of approximately ₹80,000 crores, IRB Infrastructure manages a massive operational network of about 15,500 lane kilometers, serving over 1.3 million vehicles daily. It has been instrumental in delivering landmark projects such as the Mumbai-Pune Expressway and the Ahmedabad-Vadodara Expressway. Notably, IRB Infrastructure has introduced several industry firsts, including India’s first BOT project, the operation and maintenance of the first expressway, and the establishment of India’s first Infrastructure Investment Trust (InvIT). Led by Chairman and Managing Director Virendra D. Mhaiskar and Joint Managing Director Sudhir Rao Hoshing, the company plays a vital role in advancing India’s infrastructure landscape, driving socio-economic progress, and enhancing connectivity across the nation.
Recent News on IRB Infrastructure Developers
IRB Infrastructure Developers Ltd. recently announced the declaration of its third interim dividend for the financial year 2024-25. The company declared a dividend of ₹0.10 per equity share, reflecting its commitment to rewarding shareholders. The record date for this dividend was set as February 6, 2025, ensuring eligible shareholders are identified for the payout. The dividend is scheduled to be disbursed by March 1, 2025. This development highlights IRB Infrastructure’s consistent efforts to deliver value to its investors while maintaining financial stability and growth.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 34.39% | 34.39% | 30.42% | 30.42% | 30.42% |
| FIIs + | 47.16% | 47.21% | 44.47% | 45.99% | 45.07% |
| DIIs + | 7.85% | 7.78% | 7.65% | 8.10% | 8.57% |
| Government + | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public + | 10.59% | 10.59% | 17.46% | 15.49% | 15.92% |
| No. of Shareholders | 4,65,282 | 8,68,966 | 16,98,570 | 17,17,191 | 17,17,295 |
The shareholding pattern of IRB Infrastructure Developers has shown notable changes throughout 2023 and 2024, reflecting a dynamic mix of investors. Promoters maintained a stable stake of 34.39% up to March 2024, but this declined to 30.42% from June 2024 onward. Foreign Institutional Investors (FIIs) held a significant share, peaking at 47.21% in March 2024 before slightly reducing to 45.07% by December 2024. Domestic Institutional Investors (DIIs) consistently increased their holdings, from 7.85% in December 2023 to 8.57% by December 2024, signaling growing domestic interest. Government holdings remained minimal at 0.01% across the period. Public shareholding rose sharply from 10.59% in December 2023 to 17.46% in June 2024, before slightly declining to 15.92% by December 2024.
The number of shareholders saw a remarkable increase, growing from 4,65,282 in December 2023 to over 17 lakh by the end of 2024, indicating broader public engagement with the company. These shifts highlight evolving investor confidence and the expanding reach of IRB Infrastructure Developers within the investment community.
How to Buy IRB Infrastructure Developers in India?
Below are the trading platforms that you can use to purchase IRB Infrastructure Developers shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| March 2025 | 63.79 | 49.07 |
| April 2025 | 63.16 | 48.58 |
| May 2025 | 61.32 | 47.17 |
| June 2025 | 64.08 | 49.29 |
| July 2025 | 62.82 | 48.32 |
| August 2025 | 64.76 | 49.82 |
| September 2025 | 65.54 | 50.42 |
| October 2025 | 67.24 | 51.73 |
| November 2025 | 68.93 | 53.02 |
| December 2025 | 72.03 | 55.41 |
As we move through 2025, the shares of IRB Infrastructure Developers are expected to exhibit steady growth. In March 2025, the maximum share price may reach ₹63.79, while the minimum could be ₹49.07. As the year progresses, the upward trend is anticipated to continue, and by December 2025, the share price is projected to achieve a maximum of ₹72.03, with a minimum of ₹55.41.
| When | Maximum Price | Minimum Price |
| January 2026 | 74.19 | 57.07 |
| February 2026 | 72.33 | 55.64 |
| March 2026 | 73.78 | 56.75 |
| April 2026 | 75.29 | 57.91 |
| May 2026 | 74.54 | 57.34 |
| June 2026 | 76.40 | 58.77 |
| July 2026 | 74.91 | 57.62 |
| August 2026 | 77.22 | 59.40 |
| September 2026 | 78.77 | 60.59 |
| October 2026 | 80.82 | 62.17 |
| November 2026 | 82.84 | 63.72 |
| December 2026 | 84.91 | 65.31 |
As we move through 2026, the shares of IRB Infrastructure Developers are anticipated to demonstrate consistent growth. In January 2026, the maximum share price may reach ₹74.19, while the minimum could be ₹57.07. Progressing through the year, the upward momentum is expected to continue, and by December 2026, the maximum share price is projected to rise to ₹84.91, with a minimum of ₹65.31.
| When | Maximum Price | Minimum Price |
| January 2027 | 85.76 | 65.97 |
| February 2027 | 87.95 | 67.66 |
| March 2027 | 91.38 | 70.30 |
| April 2027 | 89.59 | 68.92 |
| May 2027 | 86.98 | 66.91 |
| June 2027 | 90.90 | 69.92 |
| July 2027 | 89.12 | 68.55 |
| August 2027 | 91.87 | 70.67 |
| September 2027 | 95.09 | 73.14 |
| October 2027 | 97.56 | 75.05 |
| November 2027 | 100.00 | 76.92 |
| December 2027 | 102.50 | 78.84 |
| When | Maximum Price | Minimum Price |
| January 2028 | 104.55 | 80.42 |
| February 2028 | 107.23 | 82.48 |
| March 2028 | 111.41 | 85.70 |
| April 2028 | 109.23 | 84.02 |
| May 2028 | 106.04 | 81.57 |
| June 2028 | 110.82 | 85.24 |
| July 2028 | 108.64 | 83.57 |
| August 2028 | 112.00 | 86.16 |
| September 2028 | 115.92 | 89.17 |
| October 2028 | 118.94 | 91.49 |
| November 2028 | 121.91 | 93.78 |
| December 2028 | 124.96 | 96.12 |
| When | Maximum Price | Minimum Price |
| January 2029 | 127.46 | 98.05 |
| February 2029 | 130.73 | 100.56 |
| March 2029 | 135.83 | 104.48 |
| April 2029 | 133.16 | 102.43 |
| May 2029 | 129.28 | 99.45 |
| June 2029 | 135.10 | 103.92 |
| July 2029 | 132.45 | 101.89 |
| August 2029 | 136.55 | 105.04 |
| September 2029 | 141.33 | 108.71 |
| October 2029 | 145.00 | 111.54 |
| November 2029 | 148.63 | 114.33 |
| December 2029 | 152.34 | 117.19 |
| When | Maximum Price | Minimum Price |
| January 2030 | 155.39 | 119.53 |
| February 2030 | 159.37 | 122.60 |
| March 2030 | 165.59 | 127.38 |
| April 2030 | 162.34 | 124.88 |
| May 2030 | 157.61 | 121.24 |
| June 2030 | 164.71 | 126.70 |
| July 2030 | 161.48 | 124.21 |
| August 2030 | 166.47 | 128.06 |
| September 2030 | 172.30 | 132.54 |
| October 2030 | 176.78 | 135.98 |
| November 2030 | 181.20 | 139.38 |
| December 2030 | 185.73 | 142.87 |
As we progress through 2030, the shares of IRB Infrastructure Developers are expected to show a strong upward trajectory. In January 2030, the maximum share price is projected to reach ₹155.39, with a minimum of ₹119.53. By December 2030, this growth is anticipated to continue, with the maximum share price likely to touch ₹185.73 and the minimum price projected at ₹142.87.
Financial Condition of IRB Infrastructure Developers
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 6,852 | 5,299 | 5,804 | 6,402 | 7,409 | 7,525 |
| Expenses + | 3,887 | 2,947 | 3,229 | 3,271 | 4,387 | 4,300 |
| Operating Profit | 2,965 | 2,352 | 2,575 | 3,130 | 3,022 | 3,225 |
| OPM % | 43% | 44% | 44% | 49% | 41% | 43% |
| Other Income + | 252 | 189 | 552 | 300 | 793 | 6,597 |
| Interest | 1,574 | 1,697 | 1,894 | 1,521 | 1,868 | 1,949 |
| Depreciation | 468 | 582 | 683 | 832 | 995 | 1,026 |
| Profit before tax | 1,175 | 262 | 550 | 1,077 | 951 | 6,848 |
| Tax % | 39% | 55% | 34% | 33% | 36% | |
| Net Profit + | 721 | 117 | 361 | 720 | 606 | 6,455 |
| EPS in Rs | 2.05 | 0.33 | 0.6 | 1.19 | 1 | 10.69 |
| Dividend Payout % | 24% | 0% | 0% | 17% | 30% |
The financial performance of IRB Infrastructure Developers over the years highlights its resilience and steady growth in the infrastructure sector. From March 2020 to the trailing twelve months (TTM), the company has shown consistent progress in key financial metrics.
Sales revenue increased from ₹6,852 crore in March 2020 to ₹7,525 crore in the TTM period, reflecting robust business operations. Operating profit has grown from ₹2,965 crore in March 2020 to ₹3,225 crore in the TTM, showcasing operational efficiency, though the Operating Profit Margin (OPM) fluctuated, peaking at 49% in March 2023 and stabilizing at 43% in the TTM. The company’s ability to generate additional income is evident, with other income significantly rising from ₹252 crore in March 2020 to ₹6,597 crore in the TTM.
Interest and depreciation expenses have seen a moderate rise, yet the profit before tax surged notably to ₹6,848 crore in the TTM, compared to ₹1,175 crore in March 2020. The net profit has shown remarkable improvement, climbing from ₹721 crore in March 2020 to ₹6,455 crore in the TTM. The Earnings Per Share (EPS) has similarly improved from ₹2.05 to ₹10.69, demonstrating enhanced shareholder value. Dividend payouts have also increased, reaching 30% in March 2024.
FAQs
What is the current market capitalization of IRB Infrastructure Developers?
As of February 16th, 2025, the market cap is quite strong, standing at ₹28,619 Crores.
IRB Infrastructure Developers’s shares are currently trading at ₹47.4 as of February 16th, 2025.
Looking ahead, the share price is expected to range between ₹47.17 to ₹72.03 by 2025.
The long-term outlook is optimistic, with a projected range of ₹142.87 to ₹185.73 by December 2030.
What is the current Price-to-Earnings (PE) ratio of IRB Infrastructure Developers?
Currently, the stock’s PE ratio is at a reasonable 38.4.
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Conclusion
In conclusion, IRB Infrastructure Developers has established itself as a pivotal player in India’s infrastructure sector, managing a vast network of projects and pioneering industry milestones such as the first BOT project and Infrastructure Investment Trust (InvIT). The company’s operational efficiency and strategic initiatives have driven steady financial growth, as evidenced by consistent increases in sales, operating profits, and net profits over recent years.
The evolving shareholding pattern reflects growing domestic and international investor confidence, with significant engagement from public and institutional investors. The share price projections for 2025-2030 indicate a strong upward trajectory, underpinned by robust financial health and strategic growth initiatives. With its commitment to delivering value to shareholders and driving socio-economic progress, IRB Infrastructure Developers continues to play a vital role in advancing India’s connectivity and infrastructure landscape.
What did we learn?
- 1 Recent News on IRB Infrastructure Developers
- 2 Shareholdings Patterns of IRB Infrastructure Developers
- 3 How to Buy IRB Infrastructure Developers in India?
- 4 IRB Infrastructure Developers Share Price Prediction: 2025 – 2030
- 4.1 IRB Infrastructure Developers Share Price Target 2025
- 4.2 IRB Infrastructure Developers Share Price Prediction 2026
- 4.3 IRB Infrastructure Developers Share Price Target 2027
- 4.4 IRB Infrastructure Developers Share Price Target 2028
- 4.5 IRB Infrastructure Developers Share Price Prediction 2029
- 4.6 IRB Infrastructure Developers Share Price Target 2030
- 5 Financial Condition of IRB Infrastructure Developers
- 6 FAQs
- 6.1 What is the current market capitalization of IRB Infrastructure Developers?
- 6.2 What is the current share price of IRB Infrastructure Developers?
- 6.3 What is the share price target for IRB Infrastructure Developers in 2025?
- 6.4 What is the share price target for IRB Infrastructure Developers in 2030?
- 6.5 What is the current Price-to-Earnings (PE) ratio of IRB Infrastructure Developers?
- 7 Conclusion
