National Highways Infra Trust (NHIT) Q1 24/25 earnings summary

Executive summary

• NHIT manages a diversified portfolio of toll road assets across key economic corridors in India, emphasizing sustainability and operational excellence.

• The trust has expanded its asset base through multiple acquisition rounds, now covering 1,525 km, and is preparing for further growth with Project Ascent (Round 4) assets.

• Board approved standalone and consolidated financial results for the quarter and nine months ended June 30, 2024, with an unmodified review report from statutory auditors.

• Distribution of Rs. 1.805 per unit declared for the quarter, comprising Rs. 1.792 as interest and Rs. 0.013 as other income, to be paid within 15 days of declaration.

• Net Asset Value (NAV) as of June 30, 2024, is Rs. 128.22 per unit pre-distribution and Rs. 126.42 per unit post-distribution.

Financial highlights

• Q1 FY25 consolidated revenue from operations rose 139% year-over-year to ₹563.56 crore.

• EBITDA increased 147% year-over-year to ₹463.85 crore, with PAT up 316% to ₹254.89 crore.

• Standalone net profit for the quarter: Rs. 49,345.47 lakh, up from Rs. 23,116.70 lakh in the same quarter last year.

• Consolidated total income for the quarter: Rs. 57,130.15 lakh, up from Rs. 24,052.30 lakh year-over-year.

• Distribution per unit for Q1 FY25 was ₹1.81, up from ₹1.75 in Q1 FY24.

Outlook and guidance

• Project Leap assets began transition in April 2024, with revenue contribution expected after a six-month transition period.

• Project Ascent (Round 4) will add 844 km of new assets, further strengthening the portfolio.

• Board approved raising of debt through various sources, including term loans, NCDs, and zero coupon bonds.