Indus Infra Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Indus Infra Trust declared a Q4 FY25 distribution of Rs.2.25 per unit, taking cumulative DPU since listing to Rs.14.2 per unit, beating the IPO guidance of Rs.11.5 per unit. Total distribution for the quarter amounts to Rs.628.97 crores. The Trust recently acquired GR Galgalia Bahadurganj Highway, taking its HAM asset count to nine, with outstanding annuities of Rs.7,336 crores and average balance-life of 11.4 years. Management guided FY26 DPU at around Rs.12.5 per unit and plans to acquire 5-6 additional assets (4 GR, 2 non-GR) worth Rs.4,000-4,200 crores, taking enterprise value to Rs.10,500-11,000 crores. Leverage is expected to rise from ~30% to ~55% of AUM to fund these acquisitions. Equity IRR on the latest acquisition stands at about 12.5%, though each 25 bps rate cut impacts NDCF by roughly Rs.50-60 crores in NPV terms.
Unit holders can expect a steady FY26 income stream of about Rs.12.5 per unit with growth optionality from 5-6 new acquisitions, though rising leverage and RBI rate cuts are key risks. The stock could see near-term support from better-than-IPO distribution track record, but NAV accretion is not assured given higher debt and rate headwinds.