Roadstar Infra Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Roadstar Infra Investment Trust (RIIT) submitted its quarterly valuation report for Q3 FY26 (as on December 31, 2025), prepared by Ernst & Young Merchant Banking Services LLP, as required under SEBI InvIT Regulations. The Net Asset Value (NAV) stands at Rs. 96.45 per unit, calculated on Rs. 43,932.11 Mn of net assets (assets of Rs. 78,254.11 Mn minus liabilities of Rs. 34,322 Mn) across 45.55 crore outstanding units. The trust owns six road Special Purpose Vehicles (SPVs) spanning about 685 km (3,145 lane kms) across six states, with a total adjusted enterprise value of Rs. 80,235 Mn — MBEL (Rs. 30,133 Mn) being the largest asset, followed by BAEL (Rs. 19,469 Mn) and PSRDCL (Rs. 18,379 Mn). The NAV of Rs. 96.45 is below the issue price of Rs. 100 per unit at which RIIT units were listed on BSE and NSE in March 2025. The management flagged that two key toll assets, MBEL and PSRDCL, recorded weaker traffic in 9M FY26, but at a portfolio level BOT toll assets revenue and EBITDA remained broadly aligned with FY26 estimates. An unresolved dispute around MBEL's concession period (Independent Engineer recommended a 676-day reduction which MBEL has contested) is noted as a key risk.
For unitholders, the NAV of Rs. 96.45 is below the Rs. 100 listing price, which may weigh on sentiment in the near term. The ongoing MBEL concession period dispute and the weaker-than-expected traffic at MBEL and PSRDCL are watchpoints, though management has not revised its FY26 estimates pending revised traffic studies in Q4 FY26.