IRB Infrastructure Developers Ltd was incorporated as a private limited company, ‘DVJ Leasing and Finance Private Limited’ on July 27, 1998 under the Companies Act. The name of the Company was changed to “IRB Infrastructure Developers Private Limited” pursuant to a special resolution of the shareholders of the Company at an EGM held on October 30, 2006. The fresh certificate of incorporation consequent upon the change of name was granted by the RoC on November 8, 2006. Subsequently, pursuant to a special resolution of the shareholders of the Company at an EGM held on November 25, 2006, the Company became a public limited company and the word “private” was deleted from its name. The promoters of the company are Virendra D Mhaiskar owner of IRB Infrastructure; Deepali V. Mhaiskar; and Virendra D Mhaiskar (HUF)
IRB Infrastructure Developers Ltd. was incorporated to fund the capital requirements of the IRB Group initiatives in the infrastructure sector. Although the company was incorporated as a leasing and financing company, it did not undertake any leasing business. In the past, the company has carried on certain maintenance operations for road projects constructed by other entities in the IRB Group.
In 2005, the company was granted the Bharuch–Surat BOT project. Subsequently, pursuant to the restructuring of the IRB Group in the fiscal year 2007, the company became the holding company of the IRB Group.
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 1200 km of road length so far and one of the major road developers in the country.
Some of its completed projects are–
- Various Civil Works in Mumbai City on behalf of BMC.
- Strengthening and resurfacing to the mail runway 14/32 at CA Nagpur.
- Improvement to Pune–Ahmadnagar Road S.H. Km 8/00 to 121/600.
- Construction new bridge on Muthekar Nala at Dronagiri Node
- Improvement of Balapur–Patur Road from Km 17/400 to 27/00 (SH 198 ) & from Km 274/500 to 276/960 of NH.61.
- Improvement and maintenance of Thane–Bhiwandi Bypass from Km (–) 0/115 to Km. 23/509 including widening of existing 2 lane road to 4 lane road and construction of new 2 lane bridge on Kasheli Creek Phase –I & II (on BOT Basis)
- Construction of additional two lanes with Tunnel including strengthening existing weak two lane stretch on NH–4 from Km 773/00 to 781/00 in Khambatki Ghat between Pune and Satara ( Under BOT with toll rights)
- Improvement, Strengthening and Black Topping of Bhiwandi–Wada Road (S.H. 35) Km 0/645 to 18/000 in Taluka Bhiwandi with Private financing and toll rights on Build, Operate and Transfer (B.O.T.) basis.
Divisions of the company:
- Road Constructions– The company is in the business of construction as well as construction and operation of major road projects. These not only include funded projects for major bodies like NHAI, MSRDC, PWD and various muncipal corporations but their own BOT projects also. All in all, so far, the company has constructed & maintained (Includes EPC, O&M & BOTprojects) more than 1200 kms of roadways.
- BOT Projects–The company has to its credit, completion of its first BOT project, namely Thane–Bhiwandi by–pass. Apart from this, the company has to its credit, an impressively large BOT portfolio. These include 11 out of 12 operational BOTs. One of the largest BOT in India, the Mumbai–Pune Expressway and NH4 is also part of the company’s portfolio.
- Realty – It had recently diversified its business into the real estate development sector. Its Land Reserves consist of approximately 1150 acres of land Mauje Taje and Mauje Pimploli Taluka in Pune district,and is intending to increase it.
Subsidiaries of the company are:
- Ideal Road Builders Pvt. Ltd
- ATR Infrastructure Pvt. Ltd.
- Aryan Toll Road Pvt. Ltd.
- Mhaiskar Infrastructure Pvt. Ltd.
- IDAA Infrastructure Pvt. Ltd.
- NKT Road and Toll Pvt. Ltd.
- IRB Infrastructure Pvt. Ltd.
- MMK Toll Road Pvt. Ltd.
- Modern Road Makers Pvt. Ltd.
- Thane Ghodbunder Toll Road Pvt. Ltd.
- Aryan Infrastructure Investments Pvt. Ltd.
- IRB Surat Dahisar Tollway Pvt. Ltd.
- IRB Pathankot Amritsar Toll Road Pvt. Ltd.
- IRB Talegaon Amravati Tollway Pvt. Ltd.
- IRB Jaipur Deoli Tollway Pvt. Ltd.
- IRB Goa Tollway Pvt. Ltd.
- IRB Sindhudurg Airport Pvt. Ltd.
- Aryan Hospitality Pvt. Ltd.
- IRB Kolhapur Integrated Road Development Company Pvt. Ltd.
- IRB Tumkur Chitradurga Tollway Private Limited
- IRB Ahmedabad Vadodara Super Express Tollway Private Limited
- MRM Cement Pvt. Ltd
- J J Patel Infrastructural And Engineering Private Limited
- M.V.R. Infrastructure And Tollways Private Limited
- IRB Westcoast Tollway Private Limited
- Solapur Yedeshi Tollway Private Limited
Milestones of the company
- 1977 IRBPL was incorporated as a private limited company.
- 1977 to 1995 Execution of various construction contracts in the roads sector including World Bank aided projects as an EPC contractor.
- September 1995 First venture in BOT Project being the signing of the Concession Agreement for Thane – Bhiwandi Bypass Phase – I
- June 1997 Completion of the construction activities in the Thane Bhiwandi Bypass Phase – I
- November 1997 Signing of the concession agreement for the Kharpada Project for construction of a bridge over river Patalganga on a BOT basis.
- January 1998 Signing of the concession agreement for the Bhiwandi Wada project on a BOT basis.
- July 1998 Incorporation of the company as a private limited company.
- September 1998 Signing of the concession agreement for the Thane Bhiwandi Bypass Phase II on a BOT basis.
- November 1998 Signing of the concession agreement for the Khambatki Ghat project on a BOT basis.
- December 1998 Signing of concession agreement for the Kaman Paygaon project on a BOT basis.
- February 4, 1999 Completion of the Bhiwandi Wada project on a BOT basis.
- July 20, 1999 Completion of the Kharpada Project Bridge over River Patalganga on a BOT basis.
- March 25, 2000 Completion of the Kaman Paygaon project on a BOT basis.
- August 15, 2000 Completion of the Khambatki Ghat project on a BOT basis.
- January 2001 Signing of the joint venture agreement with Mudajaya Corporation of Malaysia for the execution of NHAI funded contract for the Ratanpur to Himmatnagar section of NH 8 for 54 kms.
- January 2001 Signing of funded EPC contract for the Ratanpur to Himmatnagar section of NH 8 for 54 kms with the NHAI.
- November 2001 Signing of the concession agreement for the Ahmedabad–Karmala–Temburni Road project on a BOT basis.
- May 2002 Signing of O&M and rehabilitation works contract with the NHAI for Chiloda
- Naroda Section, Ahmedabad Bypass and Ahmedabad –Vadodara Section of NH 8 in Gujarat.
- May 2002 Signing of O&M and rehabilitation works contract with the NHAI for Vadodara–Surat section of NH 8 in Gujarat.
- May 2002 Signing of the concession agreement for the Mohol–Kurul–Kamti–Mandrup road on a BOT basis.
- February 2003 Signing of the concession agreement for the Pune Sholapur Project on a BOT basis.
- August 25, 2003 Completion of construction activities in the Ahmedabad–Karmala–Temburni Road project on a BOT basis.
- August 2003 Signing of the concession agreement for the Pune Nashik project on a BOT basis.
- December 2003 Completion of the Thane Bhiwandi Bypass Phase II.
- December 2003 Completion of the construction activities in Thane Bhiwandi Bypass BOT project – Phase II.
- January 2004 Completion of the construction activities of the funded EPC Contract for the Ratanpur to Himmatnagar Section of NH 8 for 54 kms.
- May 2004 Emerged as the highest bidder for Mumbai–Pune Expressway project by making upfront payment of Rs 9,180 million to MSRDC for concession rights for a period of 15 years.
- August 2004 Signing of the concession agreement and financial closure of the Mumbai–Pune Expressway project of Rs. 11,814.40 million.
- August 2004 Commencement of construction activities of the NH 4 and commencement of toll collection on the Mumbai–Pune Expressway.
- December 10, 2004 Completion of construction activities for the Pune Sholapur BOT project.
- April 2005 Commencement of construction activities on the O & M on Mumbai–Pune Expressway as BOT operator.
- July 2005 Signing of the concession agreement for the four laning of Nagpur Hyderabad section of NH 7 (Package No. 59 & 61) of NHAI funded EPC works.
- November 2005 Emerged as the highest bidder for the Thane Ghodbunder project by offering a negative grant of Rs 1,404 million to the MSRDC for concession rights for a period of fifteen years.
- December 20, 2005 Completion of the construction activities for the Pune–Nashik Project.
- December 2005 Signing of the concession agreement and financial closure of the Thane Ghodbunder project with financing of Rs 2,166 million and commencement of toll collection.
- July 2006 Signing of the concession agreement for the Bharuch Surat project on a BOT basis.
- September 2006 Commencement of toll collection on Mumbai–Pune NH 4.
- December 2006 Achieved financial closure of the Bharuch Surat project with financing of Rs.12,109.50 million.
- December 2006 Payment of a negative grant to NHAI of Rs.5,040 million in respect of the Bharuch Surat project.
- January 2007 formed a consortium with Deutsche Bank AG, Singapore to jointly pre–qualify for eight packages of four to six laning under NHDP V
- February 2007 Awarded the contract by the Ahmedabad Municipal Corporation for the construction of Janmarg (Bus Rapid Transport System Project) from Narol Circle to Naroda Patiya in Ahmedabad for a total project cost of Rs. 1,255.55 million.
- June 2007 Awarded the funded contract by the Ahmedabad Municipal Corporation for construction of Jamnagar (Bus Rapid Transport System Project) from Pirana–Danilimada–Maninagar–Naorl in Ahmedabad for a total project cost of Rs. 783.57 million.
- July 2007 Completed substantially the construction phase of Thane Ghodbunder Project.
- September 2007 Pre–qualified for five packages under NHDP V.
- September 2007 Acquisition of shares in IRBPL, IRB Infra, NKT, TGTRPL and MIPL, making them wholly–owned Subsidiaries of the Company.
- January 2008 Company has launch its Initial Public Issue duing 31st January 2008 to 5th February 2008. The issue was oversubscribed by 4.3 times. Issue price thereafter was fixed at Rs. 185/– per share
- February 2008 Declared as Successful Bidder for the Project of ‘ Six Lanning of Surat – Dahisar section of NH–8 from Km 263.00 to Km 502.00 (Length – 239 Km ) in the state of Gujarat / Maharashtra to be executed as BOT (Toll) basis on DBFO Pattern under NHDP Phase – V’
- February 2008 Company was listed on Bombay Stock Exchange and National Stock Exchange on 25th February 2008
- February 2008 Declared as Successful Bidder for the project of ‘ Integrated Road Development Programme (IRDP) for Kolhapur City’
- April 2008 Concession Agreement for 6 – Laning of Surat – Dahisar BOT Project on DBFO pattern has been executed on 30th April 2008 Between National Highways Authority of India and IRB Surat Dahisar Tollway Private Limited at New Delhi
- 2012 IRB Infra Acquired MVR Infrastructure & Tollways Pvt. Ltd
CNBC TV 18 India Business Leader Awards acknowledges Shri Virendra D. Mhaiskar as the “Young Turk of the Year” –2010
IRB Infrastructure Developers Ltd. has won the CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai–Pune section of NH–4 on 25th March 2009.