Indus Infra Trust · NSE:INDUSINVIT
Indus Infra Trust — Q4 FY26 Earnings Presentation
35 slides from Indus Infra Trust's earnings presentation, Apr 30, 2026
Slide 1: Exchange filing letter: Investor Presentation on Financial Results
30th April 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C‐1, Block G Dalal Street, Bandra‐Kurla Complex, Bandra(E) Mumbai – 400001 Mumbai ‐400051 Scrip Code: 544137 Symbol: INDUSINVIT Subject: Investor Presentation on the Financial Results of th
Slide 2: Investor Presentation Q4 FY26
GR Highways Investment Manager Private Limited Investor Presentation Q4 FY26
Slide 3: Disclaimer
Disclaimer • This presentation is issued by GR Highways Investment Manager Private Limited (the “Investment Manager”) on behalf of Indus Infra Trust erstwhile Bharat Highways InvIT (“the Trust”) for general information purposes only, without regard to specific objectives, suitability, financial situ
Slide 4: Disclaimer
Disclaimer • This presentation may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or
Slide 5: Index
Index Financial Highlights 5 Distribution 8 Debt profile & Unitholding Pattern 11 Acquisition during the quarter 14 Asset Portfolio 19 Overview of Indus Infra Trust 22 Board and its Committees 28 4
Slide 6: Financial Highlights
-4 INDUS INFRA TRUST FINANCIAL HIGHLIGHTS
Slide 7: Standalone Financial Highlights
Standalone Financial Highlights Rs. in Million QY ended FY ended Particulars 31.03.2026 31.12.2025 31.03.2026 31.03.2025 Total Income 2,001.23 2,024.27 7,974.04 14,508.74 Total Expenses 795.45 719.56 3,352.58 7,842.34 EBITDA 1,205.78* 1,304.71* 4,621.46^ 6,666.40^ Finance Cost 424.66 398.68 1,581.82
Slide 8: Consolidated Financial Highlights
Consolidated Financial Highlights Rs. in Million QY ended FY ended Particulars 31.03.2026 31.12.2025 31.03.2026 31.03.2025 Total Income 2,081.16 2,031.37 7,490.67 8,555.97 Total Expenses 585.64 625.30 1,939.01 2,236.44 EBITDA 1,495.52 1,406.07 5,551.66 6,319.53 Finance Cost 464.63 412.26 1,679.75 1,
Slide 9: Distribution
-4 INDUS INFRA TRUST DISTRIBUTION
Slide 10: Distribution Summary
Distribution Summary Rs. / Unit Date of Record Capital Period Interest Dividend Others Total Cumulative approval Date Repayment FY 23-24 Q4 28-May-24 31-May-24 0.50 2.50 0.00 0.00 3.00 3.00 FY 24-25 Q1 Aug 13-Aug-24 16-Aug-24 0.72 2.28 0.00 0.00 3.00 6.00 FY 24-25 Q1 Sep 16-Sep-24 17-Sep-24 0.24 0.7
Slide 11: InvIT NDCF Calculation
InvIT NDCF Calculation Rs. In Millions • DPU: Rs. 3.50 per unit • Interest: Rs. 1.01 per unit, Return of Capital: Rs. 2.49 per unit 6,625.81 25.57 (302.00) 81.84 (1,048.48) 1,550.29 (332.50) 1,613.34 (3,436.89) 1,839.62 4,868.69 (82.50) 10
Slide 12: Debt Profile and Unitholding Pattern
DEBT PROFILE AND UNITHOLDING PATTERN 11
Slide 13: Debt Profile
Debt Profile Credit Rating Debt Profile AAA/Stable As on 31st March 2026 Rs. in Million Particulars Standalone Consolidated External Debt 36,882.26 46,028.78 AAA/Stable CARE Ratings has reaffirmed the rating of CARE AAA/Stable, assigned to proposed and outstanding bank facilities aggregating to Rs.
Slide 14: Unitholding Pattern
Unitholding Pattern Top Five Unitholders other than S.No. Particulars No. of Units % Sponsor/IM/PM and their related Unitholding % parties 1 Sponsor 6,64,50,000 15.00 Kotak Mutual Fund 3.87% 2 Related Party of the Trust 1,92,938,705 43.56 HDFC Mutual Fund 3.67% ICICI Mutual Fund 2.71% Non-Institutio
Slide 15: Acquisition Completed During the Quarter
ACQUISITION COMPLETED DURING THE QUARTER 14
Slide 16: Assets Acquired
Assets Acquired GR Ujjain Badnawar Highway Private Limited GR Bilaspur Urga GR Ena Kim Expressway Highway Private Limited Private Limited
Slide 17: ROFO Asset: GR Ujjain Badnawar Highway Private Limited
ROFO Asset : GR Ujjain Badnawar Highway Private Limited (GUBHPL) Madhya Residual Kms / 69.1 / 276.4 State Authority NHAI Mode HAM 13.77 years* Pradesh Tenor Lane kms 4-Laning of Ujjain-Badnawar Section of NH-752D from km 26.90 to km 96.00 in the State of Madhya Pradesh on Hybrid Annuity Mode PCOD An
Slide 18: ROFO Asset: GR Bilaspur Urga Highway Private Limited
ROFO Asset : GR Bilaspur Urga Highway Private Limited (GBUHPL) Residual Kms / 70.200 / State Chhattisgarh Authority NHAI Mode HAM 13.38 years* Tenor Lane kms 280.8 Four Lane Bilaspur- Urga section of NH-130A from design Ch. 0+000 to Ch. 70+200, (from NH-49 near Dheka village to Bhaisma village), Pac
Slide 19: ROFO Asset: GR Ena Kim Expressway Private Limited
ROFO Asset : GR Ena Kim Expressway Private Limited (GEKEPL) Residual Kms / 36.93/ State Gujarat Authority NHAI Mode HAM 13.68* Tenor Lane kms 295.44 8-laning of Ena Kim section of Vadodara Mumbai Expressway (NE -4) from Km 217.500 to Km 254.430 (Phase I - Pkg VI) PCOD Annuities recd. Nov 30, 2024 2
Slide 20: Signing of SPAs to acquire Hybrid Annuity Mode Assets
Signing of SPAs to acquire 4 Hybrid Annuity Mode Assets 19
Slide 21: Driving the next phase of portfolio expansion (continued)
Driving the next phase of portfolio expansion….(continued) KNR Palani Infra Private Limited: Four Laning of Oddanchatram – Madathukulam section of NH-209 (New NH-83) of 45.38 kms (Design Ch. Km 29.000 to Km. 74.380) State Operation Period PCOD Annuities recd. Balance Life* Tamil Nadu 15 years Sep 02
Slide 22: Driving the next phase of portfolio expansion
Driving the next phase of portfolio expansion KNR Guruvayur Infra Private Limited: Six Laning of Valanchery to Kappirikkad section of NH-66 (old NH- 17) of 37.35 kms (Design Ch. Km 298+500 to Km. 335+850) State Operation Period PCOD Annuities recd. Balance Life* Kerala 15 years July 17, 2025 1 14.31
Slide 23: Asset Portfolio
-4 INDUS INFRA TRUST ASSET PORTFOLIO 22
Slide 24: Assets Portfolio
Assets Portfolio GR Dwarka Devariya Highway Pvt. Ltd. (2) GR Phagwara Expressway Ltd. (5) State: Gujarat State: Punjab Type/ Design length: 4 lane/ 71.89 kms (5) Type/ Design length: 4 lane/ 80.82 kms Pavement Details – Rigid Pavement Details – 11.26 kms Rigid & 69.56 kms Flexible (8) (6) Porbandar
Slide 25: Project details
Project details 87 annuities ~838.48 Km ~ 8.91 - 13.77 Years 13 HAM Projects Residual Concession period received Total Length Annuities Residual Total Design End of Bid Project Receivable No. of Awarding Appointed Concession Annuities Project Length Location State PCOD Concession Cost (as on Annuiti
Slide 26: Overview: Indus Infra Trust
OVERVIEW: INDUS INFRA TRUST 25
Slide 27: Overview
Overview • Successfully Listed on 12th March 2024 at NSE & BSE Listing • First ever HAM focused Public Listed Infrastructure Investment Trust (InvIT) Investor • Institutional Investors subscription for the issue was 9.1x Response • Non-Institutional Investors subscription for the issue was 6.25x • D
Slide 28: Group Structure
Group Structure G R Highways Investment Manager G R Infraprojects Limited Aadharshila Infratech Private Limited Private Limited (The Transferor) (Sponsor & Project Manager) (Investment Manager) 43.56% 15% 41.44% Public Unitholders IDBI Trusteeship (Investors) Services Limited (Trustee) Indus Infra T
Slide 29: Key Milestones
Key Milestones June August March September November March December March 2022 2022 2024 2024 2024 2025 2025 2026 Setting up of Receipt Listing of Acquisition Name Acquisition SPA Acquisition the Bharat of SEBI Units of GAKHPL, changed to of GGBHPL, execution of GEKEPL, Highways Registration the 1st
Slide 30: Our Strategy
Our Strategy Expanding portfolio of road Institute and Maintain Capital Active Asset Management assets Management Policies Asset management through the services of Proposed ROFO Agreement - InvIT will have Maximize distributions to Unitholders while the Project Manager and the Investment a right of
Slide 31: Competitive Strengths
Competitive Strengths ROFO with GRIL Right of first offer to acquire certain assets of GRIL Steady nature of income Hedge against Pre-determined annuity payments with Long term adverse interest zero traffic risk concession rate movements agreement NHAI HAM projects provide a natural Weighted average
Slide 32: Board of Directors and KMPs
BOARD OF DIRECTORS AND KMPs 31
Slide 33: Board of Directors & KMPs
Board of Directors & KMPs Board of Directors Ajendra Kumar Agarwal Raghav Chandra Deepak Maheshwari Chairman & Non-executive Director Independent Director Independent Director • Managing director on the board of directors • 35+ years of experience in areas including public • 40+ years of experience
Slide 34: Abbreviations
Abbreviations Name Abbreviation Porbandar Dwarka Expressway Private Limited PDEPL GR Dwarka Devariya Highway Private Limited GDDHPL GR Akkalkot Solapur Highway Private Limited GASHPL GR Sangli Solapur Highway Private Limited GSSHPL GR Phagwara Expressway Private Limited GPEL Varanasi Sangam Expressw
Slide 35: Thank You
-4 INDUS INFRA TRUST THANKYOU 34