“We are back to over 80 per cent of pre-Covid level traffic for our portfolio, even when many cities or state sections are not allowing traffic movement freely, and expect to reach pre-Covid collections in the coming months,” Virendra D. Mhaiskar, chairman and managing director of IRB Infra said in the annual report for 2019-20.
Further, out of the 9 projects in Private InvIT, 5 projects are under construction - all being 4 to 6 laning assets. "Four of these will be completed in FY21, resulting in over 45 per cent jump in tariffs on completion. This will provide a strong boost in collections and facilitate operations," Mhaiskar said.
With the transfer of 9 projects, their corresponding operation & maintenance (O&M) now becomes a part of the company’s order book – which has increased to Rs 12,000 crore, ensuring strong visibility for the engineering, procurement, construction (EPC) segment for foreseeable future.
Besides, the management believes that the company is well poised and geared up to win a large number of build, operate & transfer (BOT) projects in the upcoming bids, which will ensure a steady growth in execution as well as Toll revenues in the long term.