IRB InvIT Fund · NSE:IRBINVIT
IRB InvIT Fund — Q1 FY27 Earnings Presentation
39 slides from IRB InvIT Fund's earnings presentation, July 2026
Slide 1: Results Update Q1FY27 IRB InvIT Fund
Results Update Q1FY27 IRB InvIT Fund
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Investment Manager of IRB InvIT Fund (the “Trust”) solely for your information and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organization or firm) or pub
Slide 3: Contents
Contents Particulars Page No. Project wise Toll revenue 4-15 HAM Revenue break up 16-18 Financial Performance 19-21 Traffic Movement 22-25 NDCF and Distribution Composition 26-28 Appendix 29
Slide 4: Project wise Toll Revenue
Project wise Toll Revenue 4
Slide 5: Project-wise Gross BOT Toll Revenues
Project-wise Gross BOT Toll Revenues INR Mn Sr. No. Name of the Project Q1FY27 Q1FY26 YoY (%) 1 Tumkur Chitradurga BOT Project (1) 1,135 1,069 6% 2 Jaipur Deoli BOT Project (1) 563 492 15% 3 Pathankot Amritsar BOT Project (1) 463 402 15% 4 Omalur - Salem - Namakkal BOT Project (2) 467 444 5% 5 Taleg
Slide 6: Toll Revenue Breakup – Gross v/s Net
Toll Revenue Breakup – Gross v/s Net INR Mn Q1FY27 Particular ITCTL IJDTL IPATRL MITL ITATL KTL KGTL IHMTL Total Gross Toll collection 1,135 563 463 467 253 360 686 973 4,900 Less: Revenue share (4) (2) (4) (2) (1) (2) (1) (5) (21) (non-FASTag users) Less: Revenue share - - - (105) - - (524) (89) (7
Slide 7: Toll revenue – Tumkur Chitradurga project (ITCTL)
Toll revenue – Tumkur Chitradurga project (ITCTL) INR Mn Daily toll collection 13.0 12.7 12.5 12.6 12.6 12.5 12.3 12.1 12.1 12.0 12.0 12.0 11.6 11.5 11.4 11.5 11.4 11.5 11.2 11.0 10.5 10.0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 392 1,135 390 1,069 374 377 372
Slide 8: Toll revenue – Jaipur Deoli project (IJDTL)
Toll revenue – Jaipur Deoli project (IJDTL) INR Mn Daily toll collection 6.5 6.3 6.3 6.0 6.0 6.3 6.1 6.1 5.5 5.8 5.6 5.1 5.6 5.0 5.3 5.3 5.2 5.3 5.1 4.5 4.0 3.5 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 189 186 189 563 188 189 168 173 176 172 492 166 162 159 158
Slide 9: Toll revenue – Pathankot Amritsar project (IPATRL)
Toll revenue – Pathankot Amritsar project (IPATRL) INR Mn Daily toll collection 5.5 5.1 5.1 5.1 5.0 5.3 4.8 4.9 4.8 4.5 4.7 4.7 4.6 4.4 4.0 4.1 4.1 4.0 3.5 3.8 3.0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 463 154 157 153 141 149 147 146 148 150 402 143 129 132
Slide 10: Toll revenue – Omalur Salem Namakkal project (MITL)
Toll revenue – Omalur Salem Namakkal project (MITL) INR Mn Daily toll collection 5.6 5.4 5.3 5.2 5.1 5.4 5.0 5.3 5.0 5.2 5.0 4.8 4.9 4.9 4.9 4.9 4.6 4.8 4.8 4.7 4.4 4.6 4.2 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 163 153 167 467 156 163 444 146 151 143 144 144
Slide 11: Toll revenue – Talegaon Amravati project (ITATL)
Toll revenue – Talegaon Amravati project (ITATL) INR Mn Daily toll collection 3.1 2.9 2.9 2.8 3.0 2.6 2.7 2.8 2.9 2.8 2.7 2.8 2.7 2.5 2.6 2.3 2.5 2.3 2.3 2.1 2.3 1.9 1.7 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 88 247 253 85 87 85 89 87 82 79 79 84 85 77 73 71
Slide 12: Toll revenue – Kaithal Rajasthan (KTL)
Toll revenue – Kaithal Rajasthan (KTL) INR Mn Daily toll collection 4.7 4.2 4.0 3.9 4.0 4.4 4.3 4.1 4.3 3.7 4.0 4.0 4.0 3.7 3.7 3.8 3.2 3.8 3.5 2.7 2.2 1.7 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 133 133 349 360 119 120 122 123 127 123 116 114 119 116 115 120
Slide 13: Toll revenue – Kishangarh Gulabpura (KGTL)
Toll revenue – Kishangarh Gulabpura (KGTL) INR Mn Daily toll collection 8.7 7.7 7.5 7.4 7.7 8.3 7.9 7.9 6.7 7.5 7.6 7.5 7.9 7.5 7.1 7.1 7.1 5.7 7.1 4.7 3.7 2.7 1.7 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 686 644 246 244 236 231 233 233 234 229 231 231 219 223
Slide 14: Toll revenue – Hapur Moradabad (IHMTL)
Toll revenue – Hapur Moradabad (IHMTL) INR Mn Daily toll collection 13.7 11.3 11.7 10.2 10.6 9.7 10.9 11.0 10.9 10.0 9.7 9.8 10.4 9.6 10.0 9.6 10.2 7.7 7.4 5.7 3.7 1.7 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 340 337 330 973 316 317 316 323 899 301 297 301 301
Slide 15: Toll revenue – Portfolio of assets
Toll revenue – Portfolio of assets INR Mn Daily toll collection 60.0 54.9 53.4 53.3 50.0 55.6 53.2 52.6 51.8 50.9 40.0 30.0 29.4 28.4 28.5 27.1 28.2 28.3 20.0 27.0 10.0 0.0 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY26 FY27 Total toll collection 1,646 1,655 1,596 1,630 4,902 1,600 1,605 1,579
Slide 16: HAM Revenue breakup
-HAM Revenue — _ (br reaku Up,
Slide 17: Annuities received from VK1 HAM asset
Annuities received from VK1 HAM asset INR Mn Project Snapshot 850.4 967.2 961.2 908.1 1,200.0 Construction of greenfield eight lane Vadodara to Project Description Padra section of Vadodara Kim Expressway 956.1 960.7 941.5 866.3 Project Cost (INR Cr) 2,094 1,000.0 16.1 16.1 16.1 16.1 16.3 16.1 14.7
Slide 18: Recently added VM7 HAM Asset
Recently added VM7 HAM Asset INR Mn Project Snapshot 2,000.0 866.4 774.2 Construction of greenfield eight lane Gandeva to Project Description Ena section of Vadodara Mumbai Expressway in 1,800.0 the state of Gujarat 1,600.0 Appraised Project Cost 1,702 crores (INR Cr) 1,400.0 Project Road Length 27.
Slide 19: Financial Performance
Financial Performance 19
Slide 20: Consolidated Financial Results
Consolidated Financial Results INR Mn Particulars Q1FY27 Q1FY26 YoY (%) Gross Income (Net of revenue share) ^ 4,922 2,923 68% EBITDA 3,963 2,462 61% Finance Expenses ^^ 1,881 725 159% Depreciation & amortization 1,278 706 81% Profit before Tax 804 1,031 (22%) Total Tax Expenses 9 35 (74%) Profit aft
Slide 21: Project-wise EBITDA for Q1FY27
Project-wise EBITDA for Q1FY27 INR Mn Q1FY27^ Sr. No. Name of the Project Total Income* EBITDA^^ 1 Tumkur Chitradurga BOT Project 1,136 1,090 2 Jaipur Deoli BOT Project 577 445 3 Omalur - Salem – Namakkal BOT Project 381 341 4 Talegaon Amravati BOT Project 258 160 5 Pathankot Amritsar BOT Project 46
Slide 22: Traffic Movement
WELCOMI RB JAIPUR Traffic =~ Movement
Slide 23: Traffic Movement (1/3) - Q1FY27
Traffic Movement (1/3) - Q1FY27 Figures Figures in ‘000 in ‘000 Tumkur Chitradurga BOT Project 10000 Particular FY22 FY23 FY24 FY25 FY26 Q1FY26 Q1FY27 8000 6000 Car 5622 6955 7571 7944 9049 2216 2598 4000 LCV 1168 1269 1285 1357 1434 357 369 2000 Truck / Bus 1835 2368 2653 2870 3124 758 819 0 MAV 38
Slide 24: Traffic Movement (2/3) - Q1FY27
Traffic Movement (2/3) - Q1FY27 Figures in ‘000 Omalur-Salem Namakkal BOT Project 7000 6000 Particular FY22 FY23 FY24 FY25 FY26 Q1FY26 Q1FY27 5000 Car 4320 5399 5669 5841 5212 1553 1842 4000 3000 LCV 766 808 767 759 710 182 165 2000 Truck / Bus 767 917 1004 1032 1065 257 266 1000 0 MAV 1117 1258 135
Slide 25: Traffic Movement (3/3) - Q1FY27
Traffic Movement (3/3) - Q1FY27 Figures in ‘000 Kaithal Rajasthan BOT Project * 6000 5000 Particular FY25 FY26 Q1FY26 Q1FY27 4000 Car 4356 4940 1125 1437 3000 2000 LCV 211 226 53 58 1000 Truck / Bus 778 773 192 195 0 Car LCV Truck / Bus MAV MAV 1610 1592 391 358 FY25 FY26 Q1FY26 Q1FY27 Total 6956 75
Slide 26: Net Distributable Cash flows
Net Traffic Distributable Movement Cash flows 26
Slide 27: NDCF Working – Q1FY27
NDCF Working – Q1FY27 INR Mn Sr. No. Particulars Q1FY27 Q1FY26 Cash flow from operating activities as per Cash Flow Statement of Trust 1 (39) (46) (Post Working capital adjustments) 2 (+) Cash Flows received from SPV’s which represent distributions of NDCF computed as per relevant framework 4,072 1,
Slide 28: Distribution Composition and Build-up
Distribution Composition and Build-up Distribution till date Interest Capital Reduction Dividend 14.00 10.55 12.25 10.00 8.50 9.00 8.05 8.00 8.00 6.60 1.625 12.00 3.40 10.00 2.90 3.00 0.60 1.02 8.00 2.00 0.60 0.55 4.20 2.15 6.00 2.00 1.19 8.85 4.00 7.65 7.00 6.50 6.80 5.90 4.80 4.98 4.86 2.00 0.625
Slide 29: Appendix
Traffic Appendix Movement 29
Slide 30: Top Unit Holders – As on June 30, 2026
Top Unit Holders – As on June 30, 2026 3% Sr. No. Name of Unitholders % of holding Sponsor 5% 1 IRB INFRASTRUCTURE DEVELOPERS LIMITED 16.57 18% Foreign Portfolio Investor 2 ANAHERA INVESTMENT PTE. LTD. 16.26 16% Individuals 3 LARSEN AND TOUBRO LIMITED 6.63 4 CIM INVESTMENT FUND ICAV 5.49 Bodies Corp
Slide 31: Unit Price Performance for last six years v/s 10 years G sec
Unit Price Performance for last six years v/s. 10 years G sec Price (rebased to 100) Distribution per unit (DPU) 300.0 INR FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 DPU 10.6 12.3 10.0 8.5 9.0 8.0 8.0 6.0 6.6 Yield1 11.5% 16.4% 17.6% 20.8% 16.1% 13.4% 11.4% 12.9% 10.9% 200.0 81% 100.0 11% - IRB In
Slide 32: Financial Highlights
Financial Highlights INR Mn Gross income1 EBITDA 83% 80% 82% 83% 77% 15,817 11,584 12,697 14,003 9,162 10,386 10,859 11,102 8,279 8,861 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 EBITDA margin Net distributable cash flow Net debt2 0.2x 0.3x 0.3x 0.3x 0.4x 7,061 5,465 78,758 4,937 4,961 4,811
Slide 33: Standalone Financial Results
Standalone Financial Results INR Mn Particulars Q1FY27 Q1FY26 Gross Income 4,724 1,735 Earnings before interest, tax and depreciation * 4,554 1,761 Financial Expenses # 1,687 474 Profit Before Tax 2,867 1,287 Total Tax Expenses - - Profit after Tax 2,867 1,287 Cash Profit 2,985 1,225 * Includes prov
Slide 34: InvIT Assets Portfolio
InvIT Assets Portfolio ▪ Listed in May-2017 with initial portfolio of six operational assets; seventh asset was transferred in Sep-2017. One HAM asset forming part of prestigious Delhi-Mumbai Expressway acquired in October 2022 situated in the State of Gujarat.3 BOT assets acquired in November 2025
Slide 35: Sector leading ESG standards
Sector leading ESG standards Environmental Social Governance o Using LED lights on the roads to reduce o Well defined workplace health & safety o The Trust is managed by the Investment energy consumption guidelines manager having an experienced board of directors with 50% independent directors o Tim
Slide 36: Structure of Public InvIT
Structure of Public InvIT InvIT will in turn distribute at least 90% of its net Investors In Units Of Trust distributable cash flows to its unit holders, semi-annually, comprising of: ◼ Dividend received from the SPV ◼ Interest received from the SPV (net of withholding tax) ◼ Cash flows from repayme
Slide 37: Brief Overview of the Investment Manager
Brief Overview of the Investment Manager Experienced IM & Management team • The IM has more than 25 years experience in operating / managing road projects, in the infrastructure sector with a net worth of ~INR 646 mn as on 31st March, 2026 Background & • The Management of the IM is governed by an ex
Slide 38: Debt Overview and Leverage Ratio
Debt Overview and Leverage Ratio Debt Overview Net Debt to Value of assets ratio ^ – 30th June 2026 INR Mn Outstanding as on Gross Debt: INR ~86.4 Bn 30th June 2026 Net Debt: INR ~82.2 Bn SBI, Canara Bank, ICICI Bank, IndusInd Lenders Bank, Union Bank of India, IIFCL, NaBFID 182,543 82,237 Credit Ra
Slide 39: Thank You
Thank You For further information, kindly contact: Investor relations: ir@irbinvit.co.in