Toll road operators are likely to log in lower top line growth at 9-11 per cent in 2023-24 compared to a robust 16-18 per cent rise in revenue this fiscal, says a report.
In a report on Tuesday, rating agency Crisil said the jump of 16-18 per cent in revenue this fiscal will be on the back of significant hike in toll rates due to elevated inflation, and healthy traffic growth on national highways.
However, the revenue will moderate to 9-11 per cent in FY24 due to falling inflation and a likely moderation in traffic growth, it said.
The report, based on an analysis of 49 toll road assets across 14 states, also said that robust toll collections along with adequate balance sheet liquidity will support credit profiles of toll road operators.
