Infrastructure development is the foundation for India’s GDP growth and economic prosperity.

Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers

What were your key performance highlights during the past year?

The company has seen key performance improvements in FY 23. To brief up some of them are, toll revenue growth across all assets for around 40% on Y-o-Y for entire FY23; commencement of construction activity on the prestigious Ganga Expressway BOT in UP and Chittoor Thachur HAM project in Tamil Nadu. As far as new orders are concerned, Company bagged Rs.2,132 Crores Samakhiyali Santalpur BOT Project in Gujarat. Company also successfully completed re-financing of three BOT assets under its listed private InvIT. During the year, Company also split its equity shares from Rs.10 per share to Re.1 per share; thus, bringing in more liquidity in the market for the interest of small share investors. During the year, Company published its Sustainability Report for FY22 and became a member of India Global Compact UN in July 2022.

What is your future outlook for infrastructure companies for the year 2023?  

The roadmap to India’s Infrastructure companies is futuristic. Infrastructure development is the foundation for India’s GDP growth and economic prosperity. According to the IBEF survey, Infrastructure is poised to grow by 8.2% till the year 2027. The launch of a quadrilateral economic forum of the US, India, Israel & UAE has further accelerated infrastructure growth in the coming years. With the pandemic restrictions and effects being eased, the infrastructure work for most companies has come to its initial trajectory and the work has been moving faster. Technology has continuously been upgraded which means it is going to make the infra work not only faster but also more efficient. The future of Infrastructure also looks at more green and clean initiatives going forward. With the correct capital investment and government policy support, we believe infrastructure companies have a progressive future in 2023.

Give us an insight on how technology has formed the backbone of the company’s excellence in project delivery?

Technology has become an essential tool for companies to achieve excellence in project delivery. With the advent of new technologies, businesses have been able to automate their processes, improve their communication channels, and streamline their operations, resulting in more efficient project delivery. In this sense, technology has formed the backbone of the company’s excellence in project delivery.

One of the key advantages of technology in project delivery is its ability to increase collaboration and communication between team members. With the use of project management software, teams can easily share information, track progress, and make real-time updates, resulting in better coordination and faster decision-making. This, in turn, allows for a more agile and responsive approach to project delivery, improving the speed and quality of the final product.

Another way technology has helped companies excel in project delivery is through automation. Automated processes allow for greater efficiency and accuracy, reducing the risk of human error and saving time and resources. From automated testing to data analysis, technology has made it possible to automate many of the repetitive and time-consuming tasks that were previously done manually, freeing up valuable time and resources for more creative and innovative work.

IRB manoeuvres in-house capabilities, with a pool of expert and techno-savvy workforce, to carry out EPC and O & M of its Assets, evolved methodology, high construction quality requiring low maintenance. IRB owns a range of advanced equipment and a highly skilled workforce for efficient operations. Advanced Technology deployment and the implementation of SAP across functions have resulted in a smooth and organised manner of operations. More than 95% of the toll collections are now coming through RFID which is known as FASTag that brings in more transparency and keeps curb on leakages. The company also has access to the best global technology and practices through its association and partnership with its on-board global partners. Evolving with technology surely makes it facile to establish a benchmark with global standards by being timely preventive and predicting precise analysis.

What are your initiatives for safety, training and skilling of your workforce?

Initiatives for safety, training, and skilling of the workforce are crucial to ensure a productive and secure working environment. IRB prioritizes the safety and wellbeing of their employees by implementing adequate safety measures, providing regular training sessions to keep employees up-to-date with the latest practices and technologies, and offering opportunities for upskilling and reskilling. Investing in training and skilling programs not only benefits the employees but also increases the overall productivity and efficiency of the organization. Furthermore, it helps to future-proof the workforce by enabling employees to adapt to new technologies and emerging trends in the industry. By prioritizing safety, training, and skilling, organizations can create a culture of continuous learning and development that benefits everyone involved.

Workplace safety and training the workforce are vital to enable the management to ensure a healthy workspace environment. Skill based training is on the rise and evolving rapidly.

IRB Infra, being the leading and largest integrated infrastructure player in the highways sector has Safety of All, i.e., its users, employees and all other stakeholders, as its top priority objective and hence Company has in place dedicated human resource with domain knowledge and expertise to look after the Safety function. Consistent brain storming; training; mock-drills, etc. have been in place to ensure Safety for all.

What are the challenges India faces in infrastructure building? How could those challenges be addressed?

Infrastructure as a vitally important sector has its own challenges and setbacks. The prominent challenge that is faced is regulatory risks, including policy changes that sometimes are time consuming. Easing regulatory risks could further resolve delays in projects. Another paramount challenge that comes to the infra sector is environmental risks that come with a great deal of safety policies, environmental regulators, etc. Infrastructure space should think a step ahead and in coming years ensure scrupulously well-planned resource allocations for operations with high sustainability measures.  

What are the major big infra projects that are under implementation by your company?

IRB Infrastructure Developers Ltd. is India’s leading integrated and first multi-national infrastructure development in the highway sector. At present, Company is operating and maintaining 23 highways projects under BOT, TOT and HAM business models in 10 Indian States with around 16,000 Lane Kms in operations.  

At present, Company is executing Ganga Expressway, 130 Kms Greenfield Expressway BOT in Uttar Pradesh, which is the largest in Company’s portfolio alongside Palsit Dankuni BOT project in West Bengal, Chittoor Thachur HAM project in Tamil Nadu and Samakhiyali Santalpur BOT project of 90.0 Kms in Gujarat, which was recently bagged.

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