Indus Infra Trust (INDUSINVIT) Q4 25/26 earnings summary

Executive summary

• Listed on NSE & BSE in March 2024 as the first HAM-focused public InvIT, with a diversified portfolio of 13 NHAI HAM projects totaling ~838 km and AUM of over INR 9,400 crore as of March 31, 2026.

• Acquired three HAM assets from GR Infraprojects and four SPVs during FY26, expanding the asset base and resulting in asset acquisitions rather than business combinations.

• Signed SPA to acquire four HAM assets from KNR Constructions, targeting completion within Q1 FY 2027.

• Cumulative DPU since listing reached INR 27.74 per unit; FY26 DPU was INR 13.5, exceeding guidance.

• O&M contracts in place with GRIL, leveraging experienced project management teams.

Financial highlights

• Q4 FY26 standalone interest income was INR 195.03 crore, up from INR 187.41 crore in the previous quarter.

• Consolidated Q4 FY26 total income: INR 208.12 crore; PAT was INR 106.28 crore.

• FY26 standalone total income was INR 797.40 crore; EBITDA excluding impairment was INR 757.65 crore.

• Consolidated FY26 profit was INR 3,826.40 million, down from INR 4,816.66 million in FY25.

• Total distribution for FY26 was INR 597.97 crore, with DPU for Q4 at INR 3.50.

Outlook and guidance

• FY27 DPU guidance set at a minimum of INR 14 per unit, driven by new asset acquisitions.

• Targeting AUM of INR 17,500–18,000 crore by year-end, with planned equity raise of INR 3,800–4,000 crore.

• Focus on maximizing distributions while maintaining capital flexibility for future acquisitions.

• Board expects continued stable distributions, with a focus on further asset acquisitions and SEBI InvIT compliance.