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IRB Infrastructure Developers Ltd. (Bombay Stock Exchange:532947) was incorporated to fund the capital requirements of the IRB Group initiatives in the infrastructure sector. The company undertakes development of various infrastructure projects in the road sector through several Special Purpose Vehicles.
The company, along with its subsidiaries has constructed or operated and maintained around 1,200 km of road length so far and one of the major road developers in the country. The aggregate size of all our BOT projects (both completed and under execution) is around Rs. 33 billion.
IRB has recently diversified into the real estate development sector. The proposed township project is the first real estate development project undertaken by IRB and is in its preliminary stages of planning and development. Currently, Land Reserves consist of approximately 1150 acres of land Mauje Taje and Mauje Pimploli Taluka in Pune district, and IRB intends to acquire an additional approximately 250 acres of land for proposed township project. The process of obtaining various permits, licenses and other regulatory approvals is still on. Land Reserves consist of agricultural lands and they are in process of obtaining the relevant certificates from the relevant regulatory authorities for the conversion of such agricultural land for purposes of our township project.