Vertis Infrastructure Trust Units · NSE:VERTIS
Vertis Infrastructure Trust Units — Q1 FY27 Earnings Presentation
26 slides from Vertis Infrastructure Trust Units's earnings presentation, Jun 30, 2026
Slide 1: Investor Presentation Quarter Ended 30th June, 2026
Investor Presentation Quarter Ended 30th June, 2026 www.vertis.co.in
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Vertis Fund Advisors Private Limited previously known as Highway Concessions One Private Limited (the “Investment Manager”), in its capacity as the investment manager of Vertis Infrastructure Trust (previously known as Highways Infrastruct
Slide 3: Table Of Contents
Table Of Contents Sr No. Section Page No. 01 Highlights for Q1 FY27 04 02 Portfolio Snapshot 06 03 Traffic & Revenue Performance 07 04 Debt Profile 09 05 Q1 FY27 Distribution 10 06 Valuation Summary 11 07 Authority & Regulatory Updates 12 08 Annexures 15 3 Vertis Infrastructure Trust | Investor Pres
Slide 4: Highlights For Q1 FY27 (1/2)
Highlights For Q1 FY27 (1/2) Q1 FY27 9.1% 16.4% ₹ 11,456 Mn Performance YoY Traffic Growth(1) YoY Toll Revenue Growth(2) Operating Revenue(3) (vs Projected 4.1%) (89% EBITDA(4)) Corporate • Diversification of debt book through a INR 7,000 Mn refinancing from Credit Agricole, a leading international
Slide 5: Highlights For Q1 FY27 (2/2)
Highlights For Q1 FY27 (2/2) • WPI linking factor: In Sep 2025, NHAI proposed reducing the WPI linking factor for toll rate computation from 1.641 to 1.561 (for translating 2011–12 WPI series to Industry Matters 2004–05 WPI series). Following industry-wide representations, the matter was resolved in
Slide 6: Portfolio Snapshot
Portfolio Snapshot DIVERSIFIED PORTFOLIO OF 28 OPERATIONAL ASSETS ACROSS 9 STATES Haryana 4 HAM 9.1%(1) c. INR 273 Bn(2) 8,428 Toll traffic Growth Q1 FY27 AUM Lane Kms Rajasthan Uttar Pradesh 1 HAM 8 HAM 1 Toll 1 Toll Gujarat 3 Toll 13 years(3) 107.39 ₹60.34 Portfolio Residual life NAV/ Unit Cumulat
Slide 7: Traffic & Revenue Performance
Traffic & Revenue Performance Robust Traffic growth of 9.1%(1) ; Revenue growth of 16.4% YoY Q1 FY27 FY27 Traffic ∆ AUM Project Revenue Growth Traffic Growth Growth as per Valuation Report Remarks Contribution Y-o-Y Y-o-Y Valuation Report vs Actual NTEPL(2) 39.8% 11.3% 3.6% 7.7% 30.5% • Growth drive
Slide 8: HAM/Annuity Realisation Status
HAM/Annuity Realisation Status Amount received (INR Mn)(1) 4,355 3,490 4,405 4,869 1,364 984 522 1,009 526 No. of annuities 9 6 9 8 4 3 2 3 2 received 7.0 6.1 6.0 Weighted avg. days early / (delay) in 3.2 3.2 receipt of annuity 1.4 1.2 -0.9 -3.4 (2) FY27 Q1 FY26 Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY25 Q4 FY
Slide 9: Debt Profile
Debt Profile INR 114(1) 7.3% 72% 40.65% 15 11.0 years O/s Debt (INR Bn) Rate of Interest Floating Rate Net Debt / AUM Lending Partners Residual Maturity As on 30th June 2026 One of the lowest among borrowing Banks. DFIs. MFIs. Cap InvITs Market Lender Diversification (1) Borrowing Mix (1) Staggered
Slide 10: Q1 FY27 Distribution
Q1 FY27 Distribution Distribution from SPV To Trust (1) INR Mn SPV NDCF to Distribution(1) INR Mn Toll Revenue(2) 7,101 NDCF (SPV Level) 7,612 Annuity Revenue 4,355 Treasury Income 47 Total Revenue 11,456 Trust Expenses(7) (231) Operating Expenses(3) (1,311) Reserves Released(8) 519 EBITDA 10,145 De
Slide 11: Valuation Summary
Valuation Summary Valuation Summary INR Mn Asset Under Management 2,73,054 Cash & Cash Equivalents (at Trust level) 3,834 Other Assets and Liabilities (1,024) Consolidated Borrowings (1,13,702) Net Assets Value 1,62,162 No. of Units Outstanding 1,510 Net Assets Value (INR per unit) 107.39 WACC Assum
Slide 12: Authority Updates
Authority Updates Description Impact NHAI Monetization • As part of the monetization plan under NMP 2.0, NHAI has released a list of 16 assets, cumulating to 1,631 kms • Visibility on continuation of monetisation for FY27 which may be put up for bidding through the TOT route/NHIT during FY 2026-27.
Slide 13: SEBI and RBI Regulatory Updates
SEBI and RBI Regulatory Updates Description Impact Key SEBI Circular SEBI Consultation on NDCF Framework Update • SEBI has released a consultation paper on the proposed allowance of debt-funded Major Maintenance (MM) • Greater flexibility in funding MM works. expenditure to be added back while compu
Slide 14: Macro Economics Updates
Macro Economics Updates Description Impact Wholesale Price • On 15th Jun, 2026, OEA released revised WPI 2022-23 series to replace 2011-12 series. • The new factor of 1.538 shall be used over and above 1.641 in order to translate 2022-23 series to Index (WPI) New • Underlying items increased from 69
Slide 15: Annexures
Annexures Vertis Infrastructure Trust | Investor Presentation Q1 FY27
Slide 16: InvIT Structure
InvIT Structure Public 750+ Investors | Public Investors Include Holding 01. 02. 03. OTPP AXIS MAX LIFE LARSEN AND TOUBRO 57.8% 42.2% INSURANCE LIMITED Vertis Fund Advisors 04. 05. 06. Private Limited ICICI PRUDENTIAL 360 ONE CLEAN SCIENCE (Investment Manager) MUTUAL FUND FAMILY OFFICE Axis Trustee
Slide 17: Journey So Far
Journey So Far Jul 25 Jan - Feb 25 Jan 24 • Completed Aug 22 • Completed acquisition of BN acquisition of from PNC • Completed RBPL from HG Infratech • Formation of InvIT and acquisition of Infra listing of units STPL and GRICL • Achieved • 6 Project SPV’s out of from Macquarie appointed date initia
Slide 18: Highly Experienced Management Team
Highly Experienced Management Team Mr. Gaurav Chandna(1) Dr. Zafar Khan (1) Mr. Abhishek Chhajer (1) Ms. Meghana Singh (1) Mr. GVM Kiran Babu (2) Mr. Jonathan D’Souza (2) Joint CEO and Executive Joint CEO And Executive CFO General Counsel COO CHRO Director Director • As a CEO, all critical IM • As a
Slide 19: Distinguished Board with Multi-domain Expertise
Distinguished Board with Multi-domain Expertise Mrs. Sudha Krishnan Mr. Janakiraman S. Mr. Manish Agarwal Mr. Soma Sankara Prasad c.40 Years of Experience c.38 Years of Experience c.30 Years of Experience c.38 Years of Experience Non-Executive Independent Director Non-Executive Independent Director
Slide 20: Portfolio Summary – Toll
Portfolio Summary – Toll Project Name NTEPL GEPL DBCPL GRICL-VH GRICL-AM STPL-NI STPL-TN UTPL JPEPL BN UEPL BETPL State Telangana Gujarat MP Gujarat Gujarat AP AP Karnataka Rajasthan UP Tamil Nadu Karnataka Authority NHAI NHAI MPRDC GoG GoG NHAI NHAI NHAI MoRTH UPSHA NHAI NHAI Lanes 4 4 4 4 4 4 4 4
Slide 21: Portfolio Summary – HAM & Annuity
Portfolio Summary – HAM & Annuity Project Name AK5 CA JF UL MN JK1 CH JK2 AK2 CD AN RB GS DL RA NBPL Authority NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI NHAI Type of Concession HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM HAM Annuity State UP UP UP UP UP U
Slide 22: Historical Traffic Summary
Historical Traffic Summary FY19-26 Q1 FY27 PCUs FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Q1 FY27 CAGR Growth GEPL 17,752 18,870 20,176 22,330 24,670 26,331 28,805 31,912 34,593 8.7% 13.0% DBCPL 17,330 16,611 17,668 18,005 21,173 23,744 24,926 26,452 26,217 6.2% -0.7% UEPL 46,748 47,121 37,784 43,228
Slide 23: HAM/Annuity Projects Revenue
HAM/Annuity Projects Revenue All annuities for Q1 received on or before due date Annuity Receipt Calendar Amount Annuity Due Annuity Receipt Relative to Due SPV Received (INR Q1 Q2 Q3 Q4 Date Date Date mn)(1) RA 30-May-26 21-May-26 T - 9 days 258 GS AN RB 09-Jun-26 02-Jun-26 T - 7 days 241 DL AK2 24
Slide 24: Distribution History
Distribution History FY23 FY24 FY25Q1 FY25Q2 FY25Q3 FY25Q4 FY26Q1 FY26Q2 FY26Q3 FY26Q4 FY27 Q1 Record Date - - Aug 17, 2024 Nov 13, 2024 Feb 7, 2025 May 21, 2025 Aug 19,2025 Nov 12, 2025 Feb 4, 2026 May 23, 2026 Aug 5, 2026 No. of Units (Mn) 415.5 746.9 805.6 805.6 1,510.0 1,510.0 1,510.0 1,510.0 1,
Slide 25: Glossary of Terms
Glossary of Terms AJE Amritsar Jamnagar Expressway GIP Global Infrastructure Partners NH National Highway AK2 Aligarh Highways Private Limited GoG Government of Gujarat NHAI National Highway Authority of India AK5 Bithur Kanpur Highways Private Limited GRICL Gujarat Road and Infrastructure Company L
Slide 26: Thank You
Thank You Contact: Abhishek.Chhajer@vertis.co.in Zaid.Patanwala@vertis.co.in Unit No. 601-602, 6th Floor, Windsor House, Off CST Road, Kalina, Santacruz East, Mumbai 400 098, Maharashtra
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