Q1 2027 IRB InvIT Fund Earnings Call Transcript
Key Points
- Gross toll revenue grew by 8% year-on-year to INR490 crore, demonstrating resilience despite modest tariff revisions and global fuel price volatility.
- The trust's AAA credit ratings were reaffirmed, reflecting a strong financial profile and stable cash flow generation.
- The acquisition of two highway assets with an enterprise value of INR4,600 crore is expected to diversify and strengthen the portfolio.
- The asset base is projected to increase significantly from INR7,800 crore to nearly INR23,000 crore to INR24,000 crore by the end of the fiscal year.
- Expected distributions are projected to increase to approximately INR6.9 to INR7 per unit following the completion of proposed acquisitions.
- Profit after tax for the current quarter decreased to INR80 crore from INR100 crore in the corresponding quarter of the previous year.
- Finance costs increased significantly to INR188 crore from INR72 crore, reflecting the impact of the expanded portfolio.
- Depreciation and amortization rose to INR128 crore from INR77 crore, aligned with the enlarged asset base.
- There was a noted degrowth on a quarter-on-quarter basis in NDCF and revenue levels, attributed to seasonality and geopolitical tensions.
- The increase in project management fees from INR18 crore to INR46 crore raises concerns about operational expenses.
(technical difficulty) for the quarter ended June 2026. We have with us on the call today, Mr. Anil Yadav, Mr. Rushabh Gandhi and Ms.Swapna Vengurlekar from IRB InvIT team.
(Operator Instructions)
Please note that this conference is being recorded. I now request Mr. Rushabh to give you an overview of the significant development during the quarter. Over to you, sir.
Thank you. Good morning, everyone, and thank you for joining us for the earnings call to discuss the performance of the trust for the quarter ended June 30, 2026. We appreciate your continued interest in IRB InvIT Fund and hope you have had the opportunity to review our financial results and the investor presentation circulated earlier.
The first-quarter of FY27 marks the first full quarter, reflecting our enlarged 10 asset portfolio following last year's acquisitions, providing an early indication of how the increased scale is translating into operating performance.
Coming to our operating performance. The gross
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