IRB InvIT to distribute INR 3.05 p/u for Q1 FY19

IRB InvIT to distribute INR 3.05 p/u for Q1 FY19

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Trust to distribute ~92% of the Net Distributable Cash Flow for Q1FY19.

IRB Infrastructure Pvt. Ltd., an Investment Manager for the IRB InvIT Fund, today announced the financial results of IRB InvIT Fund for Q1FY19.

The Investment Manager has declared distribution of Rs. 177Crores to the Unit Holdersof the Trust, at ~92% of Net Distributable Cash Flow (NDCF) for the quarter, translating into payout of Rs. 3.05per unit, inline with guidance of Rs. 12.3 per unit total distribution for FY19. This includes Rs. 2.25per unit as Interest and Rs. 0.80per unit as Return of Capital.

While commenting on the occasion, Vinodkumar Menon, CEO & Whole Time Director of the Investment Manager said, “After a robust FY18, Q1 results strengthened our confidence in our ability to meet guided Rs 12.3p/u payout for FY19. While the temporary blips in some projects has softened our performance for the quarter, strong collections in others has provided support and the situation will improve further as the diversions ease out over the coming quarters.”

The Trust has set 6th August 2018 as a record date for distribution and the same will be paid to the unit holders on or before 10th August 2018.

Trust’s Performance for Q1FY19:

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• Distribution at ~92% of NDCF
• Four projects witnessed tariff revision from 1st April 2018 at 4.43%
• Total Revenue growth of ~6% YoY; excluding Jaipur Deoli and Pathankot Amritsar achieved a growth of stood ~10% achieved.

IRB InvIT Fund:

IRB InvIT Fund is the Trust settled by its Sponsor, IRB Infrastructure Developers Ltd and is registered under the SEBI’s Infrastructure Investment Trust Regulations 2014.

The Trust, set up to own, operate and maintain portfolio of toll road concessions, is managing seven operational road assets at present, with an aggregate value of approximately Rs. 7,560 Crores spread across the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.

The Weighted Average life of Assets under InvIT Portfolio is around 16 years.