Nxt-Infra Trust · NSE:NXT_INFRA
Nxt-Infra Trust — Investor Presentation (April 2026)
43 slides from Nxt-Infra Trust's investor presentation, April 2026
Slide 1: Corporate Presentation
Corporate Presentation April 2026
Slide 2: Disclaimer
Disclaimer 2 This presentation ("Presentation”) is prepared and issued by Walter Infra Manager Private Limited (the “Investment Manager”) on behalf of and in its capacity as the investment manager to NXT Infra Trust (“Trust”) for general information purposes only, without any regards to specific inv
Slide 3: Executive Summary
Executive Summary
Slide 4: Proposed acquisition of 5 additional road assets to build scaled up portfolio of 11 assets
Proposed acquisition of 5 Additional road assets by Nxt-Infra to build a scaled up, yet agile and right sized portfolio of 11 assets Nxt-Infra is evaluating acquisition of 5 road assets1 from the Sponsor Group The acquisition will be part funded by fresh issue of units Proposed Combined Portfolio Ov
Slide 5: Indicative Consolidated Portfolio of Nxt-Infra and Proposed Target Asset Acquisitions
Indicative Consolidated Portfolio of Nxt-Infra and Proposed Target Asset Acquisitions Nxt-Infra Existing Portfolio Target Asset Acquisitions Consolidated Portfolio 6 assets (5 HAM + 1 Toll) 5 assets (3 HAM + 2 Toll)3 11 assets (8 HAM + 3 Toll) LTM 5 Toll Toll FY26 Toll Dec’25 HAM Revenue HAM Revenue
Slide 6: Potentially aggregating high-quality road portfolios under a single platform
Potentially aggregating high-quality road portfolios under a single platform Golden Quadrilateral North-South Corridor NH-6 East West Corridor Maha Samruddhi Marg Scaled-up Portfolio 11 3,101 INR 17,600+ Mn assets Lane kms 6 Revenue 32 6 1 8 10 9 7 Diverse Asset mix 4 5 10 states 45:55 Distributed a
Slide 7: Proposed Portfolio Overview
Proposed Portfolio Overview Golden Quadrilateral Current Nxt-Infra assets Target Asset acquisition North-South Corridor NH-6 East West Corridor 01 02 03 04 05 06 07 08 09 10 11 Maha Samruddhi Marg DME CGRG GSY CT AM2 MCP Total VKEPL DJHPL SVBTC VEPL CEPL Total Total Asset type HAM HAM HAM HAM HAM To
Slide 8: Existing Nxt-Infra Portfolio
Existing Nxt-Infra Portfolio
Slide 9: Existing Nxt-Infra Portfolio Overview
Existing Nxt-Infra Portfolio Overview Golden Quadrilateral North-South Corridor NH-6 East West Corridor Maha Samruddhi Marg 6 2,067 INR 9.48bn 3 Assets Lane kms LTM Dec’25 revenue 9 2 6 1 4 5 5 states 60% : 40% 9.6 years Distributed across India HAM: Toll Remaining concession length Revenue Split (L
Slide 10: Cumulative distributions of INR 30.89 per unit since listing in July 2024
Cumulative distributions of INR 30.89 per unit since listing in July 2024 Distribution till date (INR per unit) Interest Return of Capital Dividend Yield of c. 20%1 8.03 10 7.48 6.59 6.66 6.02 4.65 3.39 3.31 0.92 1.92 2.08 1.59 2.39 1.95 1.37 1.46 1.46 0.49 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3
Slide 11: Existing Portfolio | Credit Profile and Financing Position
Existing Portfolio | Credit Profile and Financing Position Key Debt Metrics Lender-wise Borrowing Profile1 Axis Bank 31% 7.31%3 31% 48%2 11 Cost of Debt Repo-linked Debt Net Debt / AUM INR 31bn3 6 3.7x1 CRISIL AAA Distributions Credit Rating of completed; Debt/AUM Debt/EBITDA Nxt-Infra InvIT thresho
Slide 12: Existing Toll Asset - MCP | Key Highlights
Existing Toll Asset - MCP | Key Highlights Appointed date 27-Oct-16 31-Mar-26 Operational Life Residual Concession Life 5.4 4.0 11.7 Assuming 4.2 years extension PCOD Original Concession End Concession End 31-Mar-22 26-Oct-33 03-Dec-37 12 Project Highlights Project Map Authority NHAI Concession Type
Slide 13: Existing Toll Asset - MCP | Key Influencers
Existing Toll Asset - MCP | Key Influencers Project Key Influencers Adjacent Stretches Panipat District 13 NCR Delhi District Growth Drivers Description Route Overview • Part of the longest national highway from Jammu & • Courier/Parcel traffic form a significant proportion of the commercial traffic
Slide 14: Existing Toll Asset - MCP Traffic Performance
Existing Toll Asset - MCP Traffic Performance Category-wise AADT Traffic mix Car LCV Bus Truck MAV 3AX MAV >3AX + OSV OSV x PCU FY26 AADT - By Load1 3.0% 19% 107,434 5.5% Passenger Commercial 101,215 101,867 4,259 81% 14 1,492 4,390 4,257 4,400 1,583 1,511 2,222 4,231 4,338 3,439 1,974 2,143 3,186 3
Slide 15: Existing HAM Assets Performance
Existing HAM Assets Performance Annuity Payments (INR mn) Counter Party Mix Annuities recieved until Dec-25 Residual annuity x/y # of annuities received/ total # of annuities 79% of balance annuities backed by 15/30 11/30 10/30 9/30 8/20 AAA rated sovereign entity 8,347 15 7,639 State PWD 6,967 Annu
Slide 16: Target Asset Acquisition
Target Asset Acquisition
Slide 17: Target Toll Asset Acquisition | SVBTC - Key Highlights
Target Toll Asset Acquisition | SVBTC - Key Highlights Appointed date 31-Mar-26 30-Apr-03 Operational Life Residual Concession Life 4.3 18.8 7.1 COD Concession End 04-Jul-07 29-Apr-33 17 Project Highlights Project Map Authority NHAI Concession Type BOT (Toll) State / NH West Bengal / NA Stretch Acro
Slide 18: Target Toll Asset Acquisition | SVBTC - Key Influencers
Target Toll Asset Acquisition | SVBTC - Key Influencers Project Key Influencers Adjacent Stretches Ishwargupta Setu 18 Howrah Bridge Vidyasagar Setu Growth Drivers Description Route Overview • Connects the twin cities of Kolkata and Howrah • Agri produce constitute 7 percent across all modes Salient
Slide 19: Target Toll Asset Acquisition | SVBTC - Traffic Performance
Target Toll Asset Acquisition | SVBTC - Traffic Performance Category-wise AADT Traffic mix Car LCV Bus Truck MAV >3AX + OSV x PCU FY26 AADT - By Load1 5% CAGR 39% Passenger 66,846 Commercial 19 61% 59,922 57,244 7,404 57,058 6,978 3,867 FY26 Revenue - By Load1 6,788 6,839 736 14% 3,729 3,660 Passeng
Slide 20: Target Toll Asset Acquisition | VEPL - Key Highlights
Target Toll Asset Acquisition | VEPL - Key Highlights Appointed Date 31-Mar-26 25-Jan-12 Operational Life Residual Concession Life 3.1 13.1 22.91 Assuming 6 years extension(1) COD Original Concession End Concession End 20-Feb-13 19-Feb-43 20-Feb-49 20 Project Highlights Project Map Authority MoRTH C
Slide 21: Target Toll Asset Acquisition | VEPL - Key Influencers
Target Toll Asset Acquisition | VEPL - Key Influencers Project Key Influencers Adjacent Stretches 21 Growth Drivers Description Route Overview • Connects major towns in Madhya Pradesh and Uttar • Connects major cities: Bhopal, Rewa, Satna, and Sidhi, improving regional trade and Salient Features mob
Slide 22: Target Toll Asset Acquisition | VEPL - Traffic Performance
Target Toll Asset Acquisition | VEPL - Traffic Performance Category-wise AADT Traffic mix OSV MAV >3AX + OSV MAV 3AX Bus LCV Car x PCU FY26 AADT - By Load1 9% CAGR 34% 38,620 Passenger Commercial 37,156 66% 22 4,384 30,193 4,787 FY26 Revenue - By Load1 29,904 494 32% 1,456 565 Passenger 3,960 496 1,
Slide 23: Target HAM Asset Acquisition | VKEPL - Key Highlights
Target HAM Asset Acquisition | VKEPL - Key Highlights Appointed date 08-Mar-19 31-Mar-26 Operational Life Residual Concession Life 3.2 3.8 11.2 PCOD COD Concession End 29-May-22 10-Jan-24 28-May-37 23 Project Highlights Project Map Authority NHAI Sanpa TP Concession Type HAM State / NH Gujarat / NA
Slide 24: Target HAM Asset Acquisition | DJHPL - Key Highlights
Target HAM Asset Acquisition | DJHPL - Key Highlights Appointed date 24-May-18 Operational Life 31-Mar-26 Residual Concession Life 4.0 3.8 11.2 PCOD COD Concession End 31-Jan-22 31-Jul-23 30-Jan-37 24 Project Highlights Project Map Authority NHAI Concession Type HAM State / NH Rajasthan / NH-12 Stre
Slide 25: Target HAM Asset Acquisition | CEPL 1 - Key Highlights
Target HAM Asset Acquisition | CEPL1 - Key Highlights Appointed date 31-Mar-26 22-Feb-21 Residual Concession Life 4.0 0.5 14.5 PCOD Concession End 08-Oct-2025 07-Oct-40 25 Project Highlights Project Map Authority NHAI Concession Type HAM State / NH Kerala / NH-66 Stretch Vengalam Jn. - Ramanattukara
Slide 26: Overview of consolidated debt headroom post acquisition
Overview of consolidated debt headroom post acquisition Debt/AUM (%) Headroom (% AUM) Additional headroom • InvIT regulations cap available based on leverage up to 70% steady state debt after 6 distributions, profiles Increased headroom from: 70% 26 subject to shareholder approval and AAA • Completi
Slide 27: Annexures
Annexures
Slide 28: Future Traffic Growth
Future Traffic Growth
Slide 29: Healthy Traffic Growth in Toll Portfolio
Healthy Traffic Growth in Toll Portfolio Historical Forecasted Forecasted Forecasted Traffic Key Growth Drivers Future Diversions PCU CAGR 5Y PCU CAGR 10Y PCU CAGR EOL PCU CAGR Advisor • Strategic Corridor: Part of NH-44, India’s longest highway, connecting • NE-5 (Delhi-Amritsar- Katra Eway): Bulk
Slide 30: Board and Management
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Slide 31: Agile management team with deep sector expertise and proven execution track record
Agile management team with deep sector expertise and proven execution track record… 31 JAYANTA NEELKANTH DIXIT RAJESH CHAABRA GAURAV CHATURVEDI ADITI TAWDE CEO Chief Technical & CFO & Director Company Secretary & Sustainability Officer1 Compliance Officer • 36+ years of experience in large • 28+ yea
Slide 32: Supported by a highly experienced Board
… supported by a highly experienced Board 32 Anil Kumar Chaudhary Rajat Kumar Mishra Jyoti Davar Sumit Sen Ralf Nowack Independent Director Independent Director Independent Director Director Director • Previously served as • CEO of EFKON India and • Institutionalized important • Managing Director at
Slide 33: O&M Capabilities
O&M Capabilities
Slide 34: Scalable O&M strategy focused on quality and cost discipline
Scalable O&M strategy focused on quality and cost discipline High-quality O&M driving strong relationship with Regulator Predictable, outsourced O&M with lean SPV operations Strong focus on cost optimization Portfolio scale unlocking efficiencies 34 • High quality O&M delivered across • Outsourced O
Slide 35: High quality O&M driving strong relationship with Regulator
High quality O&M driving strong relationship with Regulator O&M excellence in action Recognition from Regulator Road plantation Route Patrolling to Mechanical road Tweet by NHAI on the strategic Award to the Project Head for maintenance ensure safety cleaning importance of Mukarba Chowk Panipat exce
Slide 36: Stable and predictable cost structure underpinned by fixed O&M contracts
Stable and predictable cost structure underpinned by fixed O&M contracts Predictable cost structure1 Strong protections embedded in O&M contracts Includes: Comprehensive performance standards Variable Fixed and 19% contracted • Routine maintenance & ✓ 100% wrapped, O&M contracts with performance gua
Slide 37: Strong focus on cost optimization
Strong focus on cost optimization Select cost saving initiatives by Nxt-Infra Trust Engaged with state utility providers to secure ✓ One of the first in the industry to achieve reclassification Reclassification of reclassification of street lighting tariffs from ✓ Significantly reduced power costs i
Slide 38: ESG
ESG
Slide 39: Placing sustainability at the core
Placing sustainability at the core Turning Nxt-Infra into a sustainability leader Steps taken to integrate sustainability across the business Leadership: CXO accountability for transforming the platform into a Sustainability Leader Governance: Established a Sustainability Committee reporting to the
Slide 40: Placing sustainability at the core
Placing sustainability at the core Overview of ESG initiatives Employee safety • Implemented plan to eliminate high-risk activities and increase workforce awareness, achieving zero fatalities in 2024 and 2025 YTD • Achieved ISO 45001 certification for Occupational Health and Safety Management System
Slide 41: Industry Overview
Industry Overview
Slide 42: Strong sector fundamentals with significant growth potential
Strong sector fundamentals with significant growth potential Large yet underdeveloped network contributing significant share in India’s transportation…. Rural & Major National Highways • India has the 2nd largest road Roads are the dominant mode of transport in India District Roads – 95% (NH) – 2% (
Slide 43: Stable and progressive regulatory regime with a AAA rated nodal agency
Stable and progressive regulatory regime with a AAA rated nodal agency Counter-parties for the platform’s Ministry of Road Transport and Highways (MORTH) concession agreements Apex body in charge of planning, development and maintenance of all National Highways; formulation and implementation of pol