IRB InvIT declares Q4 FY18 financial results

IRB logo

Beats guidance of annualized payout of 12%, with aggregate distribution of Rs. 10.55 p/u for FY18 (For 318 days)

The Board of IRB Infrastructure Pvt. Ltd., an Investment Manager for the IRB InvIT Fund, today announced the financial results of IRB InvIT Fund for Q4 and full year ended 31st March 2018.

The Board has declared distribution of Rs. 174.15 Crores to the Unit Holders translating into payout of Rs. 3.00 per unit for Q4; thus annualizing the same to Rs. 12.1 per unit for FY 18, which includes Rs. 2.20 per unit as Interest and Rs. 0.80 per unit as Return of Capital.

While commenting on the occasion, Vinodkumar Menon, CEO & Whole Time Director, IRB Infrastructure Pvt. Ltd. said, “We are happy to deliver the distribution guided for, at the time of listing of IRB InvIT, to our unitholders. We thank all our stakeholders for showing trust in us.”

The Trust has set 9th May 2018 as a record date for distribution and the same will be paid to the unit holders on or before 15th May 2018.

Highlights of the Trust Performance for Q4 and FY18:

· Distribution at 93.4% of NDCF for entire FY18

· Strong bounce back in traffic growth, with double digit growth witnessed in Surat Dahisar, Tumkur Chitradurga, Bharuch Surat and Omallur Salem projects

Highlights of business performance for FY18:

· IRB InvIT, India’s first Infrastructure Investment Trust, was successfully launched and listed on Stock Exchanges

· Management of IRB InvIT decides to distribute dividend pay outs every quarter, as against the stipulated statutory requirement of twice a year

· After successful initial transfer of 6 highway projects to IRB InvIT, the trust successfully acquired 7th project from the sponsors of the trust – funded entirely with debt sourced at 8.15%.

· Achieves target growth, despite slowdown on account of GST, and guides for Rs.12.30 per unit payout for FY19

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. 7560 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 17 years.

IRB Infrastructure Developers Ltd (IRB) is India’s leading and one of the largest private roads and highways infrastructure developers, with presence in BOT and HAM space.

At present, the Company is having 31 projects out of which, 7 concessions have been successfully completed and transferred; rests are ongoing with operations of more than 12000 lane kms.

IRB Infrastructure Developers Ltd. is India’s first Infrastructure developer Company to have privilege of successfully launching and listing of India’s first ever InvIT IPO and also transferring 7 projects under the same. The Company was recently conferred on the prestigious ‘FinanceAsia – Best India Deal – Achievement Award 2017’ at Hong K

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