IRB’s profit jumps by 128% YoY
IRB Infrastructure Developers Ltd has declared a profit of Rs403 crore on total income of Rs1,754 crore for the year ended March 31, 2010. Income from operations for the year is Rs1,705 crore was up by 72% from Rs992 crore for year ended March 31, 2009.
Announcing the results, Virendra D Mhaiskar, Chairman & Managing Director of IRB said, “The results reflects strong growth given the buoyancy in the infra sector. We plan to sustain it in the future. Also, we have been evaluating various options of venturing into other infrastructure activities so as to maximize shareholders wealth.”
IRB has been pre-qualified for a substantial number of projects and would be participating for several highway projects of various agencies such as NHAI, UPEIDA aggregating to approximately Rs21,500 crore. The Bids are likely to be submitted over the next 6 to 12 months for these projects.