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IRB Infra

Should I buy IRB Infra stock in 2025?

Is IRB Infra stock a buy right now?

Last update: 9 May 2025

0 Commission

with Pepperstone

4.3

Score

4.3

Score

P. LauroreFinance expert

IRB Infrastructure Developers Ltd (IRB Infra) stands as a key player in India’s expansive road and highway infrastructure sector, currently trading at approximately ₹45.67 per share on the NSE, with an average daily volume of 21.27 million shares—reflecting sustained market attention. Despite some recent price softness (down 16% over six months), the company’s long-term trajectory is underscored by robust financials and operational momentum. Recent quarterly results showcased a revenue rise to ₹2,025 crore (up 2.89% YoY) and a substantial jump in adjusted net profit to ₹222 crore (+18% YoY), excluding exceptional gains. IRB Infra’s toll revenue saw a strong 23% YoY growth in March 2025, outpacing industry averages, and daily collections have consistently climbed. The company’s strategic move to recycle mature assets between its InvIT structures is gradually unlocking value and strengthening its balance sheet. Institutional investors maintain a significant stake (FIIs at 44.3%), suggesting continued confidence. Within the broader context of India's infrastructure push, IRB Infra’s sector leadership, efficient execution, and innovation support a constructive market outlook—especially as asset rotation and government initiatives provide clear growth catalysts. The consensus among more than 29 national and international banks puts a target price at about ₹59.40, reflecting steady optimism for the stock’s medium-term potential.

Pros

✅Consistently outpaces national toll revenue growth averages with 18–23% annual gains.
✅Lowest-in-sector P/E ratio of 4.27 offers significant value relative to peers.
✅Largest BOT road portfolio in India with 36 projects across 12 states.
✅Steady order book expansion driven by strong bidding and government infrastructure focus.
✅Proven asset monetisation strategy unlocking shareholder value through InvITs.

Cons

❌High promoter pledged shares (55.45%) may raise governance caution.
❌Stock volatility is above market average, with broad 52-week price fluctuations.

✅Consistently outpaces national toll revenue growth averages with 18–23% annual gains.
✅Lowest-in-sector P/E ratio of 4.27 offers significant value relative to peers.
✅Largest BOT road portfolio in India with 36 projects across 12 states.
✅Steady order book expansion driven by strong bidding and government infrastructure focus.
✅Proven asset monetisation strategy unlocking shareholder value through InvITs.

Is IRB Infra stock a buy right now?

Last update: 9 May 2025

P. LauroreFinance expert

0 Commission

with Pepperstone

4.3

Score

4.3

Score

Pros

✅Consistently outpaces national toll revenue growth averages with 18–23% annual gains.
✅Lowest-in-sector P/E ratio of 4.27 offers significant value relative to peers.
✅Largest BOT road portfolio in India with 36 projects across 12 states.
✅Steady order book expansion driven by strong bidding and government infrastructure focus.
✅Proven asset monetisation strategy unlocking shareholder value through InvITs.

Cons

❌High promoter pledged shares (55.45%) may raise governance caution.
❌Stock volatility is above market average, with broad 52-week price fluctuations.

✅Consistently outpaces national toll revenue growth averages with 18–23% annual gains.
✅Lowest-in-sector P/E ratio of 4.27 offers significant value relative to peers.
✅Largest BOT road portfolio in India with 36 projects across 12 states.
✅Steady order book expansion driven by strong bidding and government infrastructure focus.
✅Proven asset monetisation strategy unlocking shareholder value through InvITs.

Table of Contents

What is IRB Infra?
How much is IRB Infra stock?
Our full analysis on IRB Infra </b>stock
How to buy IRB Infra stock in India?
Our 7 tips for buying IRB Infra stock
The latest news about IRB Infra
FAQ

Why trust HelloSafe?

At HelloSafe, our expert has been following the performance of IRB Infra for more than three years. Every month, lakhs of users in India trust us to analyze market trends and identify the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In accordance with our ethical charter, we have never been, and will never be, paid by IRB Infra.

What is IRB Infra?

Key financial and leadership indicators of IRB Infrastructure Developers Ltd. with analysis.
Indicator	Value	Analysis
🏳️ Nationality	Indian	Largest road infrastructure developer based in India, benefiting from robust domestic demand.
💼 Market	NSE, BSE	Listed on major Indian exchanges, ensuring liquidity and regulatory oversight.
🏛️ ISIN code	INE821I01022	Unique identifier for IRB Infra shares on global exchanges.
👤 CEO	Virendra D. Mhaiskar (Chairman & MD)	Founder-led, experienced leadership supporting long-term business execution.
🏢 Market cap	₹27,580 crores	Mid-cap size with scope for further growth as India’s infra sector expands.
📈 Revenue	₹2,025.44 crores (Q3 FY25)	Revenue is growing steadily with 2.89% YoY increase, showing operational stability.
💹 EBITDA	₹1,049 crores (Q3 FY25)	7% YoY EBITDA growth signals improved project profitability and cost control.
📊 P/E Ratio (Price/Earnings)	4.27	Low P/E vs sector average, indicating undervaluation or market concern over risk factors.

🏳️ Nationality

Value

Indian

Analysis

Largest road infrastructure developer based in India, benefiting from robust domestic demand.

💼 Market

Value

NSE, BSE

Analysis

Listed on major Indian exchanges, ensuring liquidity and regulatory oversight.

🏛️ ISIN code

Value

INE821I01022

Analysis

Unique identifier for IRB Infra shares on global exchanges.

👤 CEO

Value

Virendra D. Mhaiskar (Chairman & MD)

Analysis

Founder-led, experienced leadership supporting long-term business execution.

🏢 Market cap

Value

₹27,580 crores

Analysis

Mid-cap size with scope for further growth as India’s infra sector expands.

📈 Revenue

Value

₹2,025.44 crores (Q3 FY25)

Analysis

Revenue is growing steadily with 2.89% YoY increase, showing operational stability.

💹 EBITDA

Value

₹1,049 crores (Q3 FY25)

Analysis

7% YoY EBITDA growth signals improved project profitability and cost control.

📊 P/E Ratio (Price/Earnings)

Value

4.27

Analysis

Low P/E vs sector average, indicating undervaluation or market concern over risk factors.

Key financial and leadership indicators of IRB Infrastructure Developers Ltd. with analysis.

How much is IRB Infra stock?

The price of IRB Infra stock is rising this week. As of now, the stock trades at ₹45.67, showing a slight 24-hour increase of +0.02%, though it is down by 3.36% over the past week. With a market capitalization of ₹27,580 crores and a robust average volume of 21.27 million shares over three months, IRB Infra maintains a low P/E Ratio of 4.27 and a dividend yield of 0.66%. The stock's beta stands at 1.79, indicating above-average volatility. Given the current market trends and valuation, investors should be mindful of its dynamic price movements and potential for both risks and rewards in the infrastructure sector.

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Our full analysis on IRB Infra stock

We have thoroughly reviewed IRB Infrastructure Developers Ltd’s latest financial disclosures and evaluated its share performance over the past three years. Integrating financial indicators, technical signals, market data, and peer benchmarking through proprietary analytics, this analysis distills a clear picture of IRB Infra’s emerging strengths. So, why might IRB Infra stock once again become a strategic entry point into the infrastructure sector in 2025?

Recent Performance and Market Context

Despite a volatile macro environment and sectoral headwinds, IRB Infra’s stock maintains a compelling long-term narrative. Currently priced at ₹45.67 (as of May 5, 2025), the share has experienced notable fluctuations: a 52-week range of ₹40.96 to ₹78.15 underscores the stock's high-beta (1.79) profile and sensitivity to both broad market trends and sector-specific developments. While short-term performance shows a correction—down 3.36% over the past week, -16.11% over six months, and -34.52% year-on-year—this retracement comes after a robust 104.16% gain across three years, signaling persistent investor confidence in its core fundamentals.

Recent quarters have brought several positive developments:

Exceptional Q3 FY25 results: Adjusted net profit up 18% YoY (excluding a one-off exceptional gain), representing ongoing operating strength.
Toll revenue outperformance: In March 2025, toll revenue climbed 23% YoY, nearly double the national average, driven by expanding project execution and efficient asset utilization.
Strategic asset rotation: The company’s ongoing shift of matured assets from Private to Public InvIT promises significant value unlocking.

The sector tailwinds are also formidable. With India’s National Infrastructure Pipeline (NIP) and sustained outlays on road-building in Union Budgets, the transport infrastructure sector is positioned for multi-year growth. This policy thrust, coupled with IRB Infra’s market-leading execution capabilities, forms a platform for resilient expansion even in a challenging environment.

Technical Analysis

Current technical signals depict a neutral to mildly bearish short-term picture, but several factors suggest the potential for a reversal and a favorable entry point for medium- to long-term investors:

Moving averages: The stock is trading below its 20-day (₹46.56), 100-day (₹50.37), and 200-day (₹54.88) moving averages, but is near the 50-day average (₹45.80). Such proximity to support levels—₹45.19, ₹44.72, and ₹43.99—may offer an attractive technical base for accumulation.
Relative Strength Index (RSI, 14): At 40.24, the RSI is approaching oversold territory, indicative of receding selling pressure and possible basing action.
MACD: The modestly negative MACD (-0.01) could signal a short-term bottom as momentum stabilizes.
Stochastic RSI and ADX: At 20.64 and 12.35, respectively, both oscillators suggest neutral momentum and the lack of a strong existing trend—often a precursor to mean-reversion or new bullish impulses.
Volume profile: With 21.27 million shares traded daily, volume remains robust, implying that price corrections are unfolding with solid liquidity.

Technical evidence, particularly the convergence of price and key moving averages alongside sustained volume, supports the contention that IRB Infra is consolidating at an important support zone and may soon embark on a new bullish phase.

Fundamental Analysis

IRB Infra’s fundamentals are particularly striking at current levels and reinforce a positive outlook:

Attractive valuation: Its P/E ratio of 4.27 is starkly lower than the sector average (37.81), highlighting market conservatism and latent re-rating potential. The price-to-book ratio at 1.98 is also undemanding for a capital-intensive player with a high quality asset base.
Profitability Surge: Adjusted net profit for Q3 FY25 rose 18% YoY, excluding an exceptional gain of ₹5,804 crores from fair-value assessment of InvIT investments. EPS has also soared (+965.70% YoY), reflecting operational leverage and project scalability.
Consistent revenue growth: Q3 FY25 revenue reached ₹2,025 crores (up 2.89% YoY), corresponding with sequential gains in toll collection—a critical revenue driver.
Project and operational strengths: 36 ongoing projects across 12 states, controlling 20% of the Golden Quadrilateral and an unparalleled 37% market share in the ToT space, provide diversified cash flow avenues.
Resilient cash generation: Daily toll revenue of ₹19 crores is up 18% YoY, signaling not only volume expansion but also effective cost management.
Dividend profile: A 0.66% dividend yield and recurring payouts (third interim dividend for FY25) represent a tangible commitment to shareholder return.

The company’s unique dual-InvIT structure—enabling asset monetization and efficient capital recycling—further augments its competitive advantage. The board’s seasoned leadership, proven track record, and stable institutional shareholding (with 44.31% held by FIIs) reinforce governance standards and market credibility.

Volume and Liquidity

Liquidity remains one of IRB Infra’s core strengths, with a sizable float and consistent trading volume (21.27 million shares daily). This healthy turnover ensures:

Effective price discovery, allowing markets to efficiently assimilate positive news or strategic shifts.
Dynamic valuation, as new catalysts—be they project wins, asset rotations, or fiscal incentives—are rapidly reflected in the share price.
Responsive investor base, seen in high foreign institutional participation, further suggesting a strong degree of market confidence.

A liquid float at a technically robust support level often offers an optimal risk-reward backdrop for new entries or incremental additions.

Catalysts and Positive Outlook

Several imminent and medium-term catalysts support an optimistic scenario for IRB Infra:

Strategic asset rotation: Offering five matured assets (EV: ₹15,000 crores) from Private InvIT to Public InvIT opens new channels for value unlocking and capital redeployment.
Project pipeline expansion: Ongoing bids for BOT and ToT projects under the Government’s PPP program are set to drive order book growth.
Sector-wide regulatory support: Increased budget allocation for roads and highways, and policy incentives for public-private partnerships, directly benefit IRB Infra’s business model.
Operational excellence: Ability to execute 500-600 km concurrently across multiple strategic corridors underscores scalability and adaptability.
ESG alignment and governance: Enhanced corporate governance, surging institutional uptake, and improved working capital efficiencies (down to 34.6 days from 86.2) provide further optimism.
Robust toll collection trends: Outperformance relative to the national average cements IRB Infra’s reputation for stable recurring income.
Potential for InvIT-driven capital efficiency: The monetization of mature assets and structured recycling through InvIT platforms provide sustained returns while lowering capital intensity.

Combined, these drivers could act as levers for a sustained re-rating and improved investor perception in the coming quarters.

Investment Strategies

IRB Infra’s current share price structure and operational context offer compelling possibilities across investment horizons:

Short-term:

Shares are consolidating near multi-month support levels, with neutral-to-oversold indicators suggesting the stock may be in the process of establishing a base.
The next catalyst, such as a new project win or InvIT transaction execution, could spark renewed buying, potentially generating a swift technical bounce.
Active investors might look for bullish reversal signals on increased volume to establish tactical positions.

Medium-term:

Growing visibility on asset rotation benefits and further positive earnings surprises could power a moderate re-rating towards fair value.
Institutional activity, coupled with strong toll revenue momentum, justifies patience for continued upside over ensuing quarters.

Long-term:

The company’s unmatched core competencies, leadership in BOT and TOT, and inherent exposure to India's massive infrastructure buildout confirm its strategic relevance in portfolios.
Asset monetization, diversified project mix, and continued policy tailwinds equip IRB Infra to be a prime beneficiary of the next infrastructure upcycle.
Structural valuation discount and sustained high dividend propensity suit investors seeking both capital appreciation and income.

Ideal positioning appears to be at or just below significant support levels (₹45.19, ₹44.72), prior to major asset rotation announcements or quarterly earnings, in anticipation of medium- to long-term alpha capture.

Is It the Right Time to Buy IRB Infra?

A synthesis of technical, fundamental, and strategic perspectives strongly suggests that IRB Infra merits renewed investor attention at current market levels. Despite recent correction, the stock is consolidating at historically significant supports, with robust volume underlining persistent investor interest. Exceptional profit growth, sector-leading toll revenue expansion, ambitious but credible project pipelines, and strategic asset monetization all reinforce the company’s financial resiliency and upside potential.

At a P/E multiple markedly below peers (by sector standards), and with a diversified project backlog fortified by government infrastructure priorities, IRB Infra appears poised to benefit disproportionately from any cyclical recovery or structural re-rating in the sector. While certain risks—such as volatility and promoter pledge levels—warrant ongoing monitoring, the confluence of operational delivery, steady dividend flows, and imminent catalysts argues in favor of IRB Infra being a strong infrastructure play for 2025 and beyond.

For discerning investors aiming to participate in India’s long-term infrastructure growth, IRB Infra seems to represent an excellent opportunity, supported by attractive valuation, strong execution, and a constructive macro environment. The stock’s current setup—deep value with clear turnaround and growth drivers—positions it as a potentially strategic entry point as the sector enters its next phase of expansion.

IRB Infra stands out as a resilient, value-rich asset in the infrastructure universe—one with the foundations to benefit from both economic recovery and ongoing policy thrusts, offering a compelling case for serious consideration in forward-looking portfolios.

How to buy IRB Infra stock in India?

Investing in IRB Infrastructure Developers Ltd (IRB Infra) is a straightforward and secure process for retail investors in India, especially when done online via a regulated broker. You can choose between two main methods: traditional spot (cash) buying, where you actually own the shares, or CFD (Contract for Difference) trading, which allows you to speculate on the price movements without taking ownership of the stock. Both methods are accessible online, and each has its advantages depending on your trading style and objectives. To help you make an informed choice, you’ll find a broker comparison and fee overview further down this page.

Cash buying

Buying IRB Infra stock “for cash” means purchasing actual shares through your broker, making you a shareholder of the company with rights to dividends and voting. Most Indian brokers charge a fixed commission per order, which typically ranges from ₹20 to ₹50 per trade.

Example

If the IRB Infra share price is ₹45.67, you can invest ₹1,000 (about $12) to buy approximately 21 shares after accounting for a ₹50 brokerage fee. Here’s how it works:

Investment: ₹1,000
Brokerage fee: ₹50
Amount available for buying shares: ₹950
Number of shares purchased: 950 ÷ 45.67 ≈ 20.8 shares (rounded down to 20 shares)

Gain scenario

If the share price increases by 10%, your shares are worth ₹1,100.
Result: +₹100 gross gain, i.e. +10% on your investment (excluding taxes).

Trading via CFD

CFD (Contract for Difference) trading allows you to speculate on IRB Infra’s price movements without owning the underlying shares. Brokers typically charge a spread (the difference between buying and selling price) and, if you hold positions overnight, an additional financing cost.

Example

You decide to open a CFD position on IRB Infra with ₹1,000 at 5x leverage, giving you exposure equivalent to ₹5,000.

If the share price rises by 8%, your market gain is 8% × 5 = 40%.
That translates to a ₹400 profit on your ₹1,000 stake—excluding the broker’s fees and overnight financing.

Gain scenario

Stock price increases by 8%: You make +₹400 gain, meaning a 40% return on your invested amount (before fees).

Final advice

Before investing in IRB Infra, it’s essential to compare broker fees, commissions, available features, and trading conditions. Whether you choose spot buying or CFD trading will depend on your investment horizon, risk appetite, and objectives. Take advantage of the detailed broker comparison available further down the page to find the platform that best suits your needs. Always remember to invest responsibly and according to your financial goals.

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Eightcap

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4.9

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CFD specialist

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