Business Today has short profiles of mid-tier Engineering & Construction companies that are aiming to bag more Build-Own-Transfer infrastructure projects. Extract from profile of IRB Infrastructure that went public recently. The prominent toll roads IRB has on its hands include the Mumbai-Pune Expressway, along with two highways that connect Pune with Sholapur and Pune with Nashik. The company also recently bagged toll collection rights for a 239-km highway between Mumbai and Surat. “Currently our toll collections are Rs 1.2 crore a day, and from next year, it will be Rs 3 crore,” says Mhaiskar. In 2007-08, IRB’s revenues of Rs 785 crore were equally split between construction and BOT projects. When executing BOT projects, IRB functions as a holding company, and each project is spun off into a special purpose vehicle (SPV). These separate entities help diffuse risk and make capital-raising simpler. To further mitigate risk, the company is looking at developing the area around high...