Buy IRB Infrastructure Developers, target price Rs 86: Axis Securities

Axis Securities has buy call on IRB Infrastructure Developers with a target price of Rs 86. The current market price of IRB Infrastructure Developers Ltd. is Rs 73.37.

IRB Infrastructure Developers Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 44326.26 Crore) operating in Infrastructure sector.

IRB Infrastructure Developers Ltd. key Products/Revenue Segments include Contract Revenue and Income From Operations for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2504.49 Crore, up 20.57 % from last quarter Total Income of Rs 2077.29 Crore and up 47.42 % from last year same quarter Total Income of Rs 1698.91 Crore. Company reported net profit after tax of Rs 324.20 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 34.39 per cent stake in the company as of 31-Mar-2024, while FIIs owned 47.2 per cent, DIIs 7.78 per cent.