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    Default IRB Infra buys MVR Tollways for Rs.130 c

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    IRB Infrastructure, on Wednesday, said it acquired 100 per cent stake in road BOT (build-operate-transfer) firm MVR Infrastructure and Tollways in Tamil Nadu for about Rs.130 crore.

    “This is the first time that any company has acquired a road BOT company. Going forward, we will continue to look at such opportunities,” IRB Infrastructure Chief Financial Officer Anil Yadav told PTI here. “At present, there are almost 40-50 road BOT projects up for sale. We are looking at all opportunities for growth.”

    MVR has a 66-km road BOT project between Salem and Karur in Tamil Nadu, whose daily collection is around Rs.16 lakh.

    Meanwhile, IRB Infra has posted a 17.11 per cent growth in consolidated net for the March quarter at Rs.120.35 crore, mainly on the back of rise in toll collection and construction revenue. Total income was Rs.848 crore, up 10.56 per cent.
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