Vertis Infrastructure Trust Units · NSE:VERTIS
Vertis Infrastructure Trust Units — Highways Infrastructure Trust — Investor Presentation (May 2025)
26 slides from Vertis Infrastructure Trust Units's investor presentation, May 2025
Slide 1: Highways Infrastructure Trust FY25 Investor Presentation
Highways Infrastructure Trust FY25 INVESTOR PRESENTATION WWW.HIGHWAYSTRUST.COM
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Highway Concessions One Private Limited (the “Investment Manager”), in its capacity as the investment manager of Highways Infrastructure Trust (“Highways Infra Trust” or the “InvIT”), solely for general information purposes and does not co
Slide 3: Contents
Contents Performance Highlights 4 Portfolio Snapshot 5 Growth Journey 8 New Asset Additions 9 FY25 Performance 11 Portfolio Operational Updates 15 ESG and Safety 17 Industry Updates 18 Annexure 19
Slide 4: FY25 Performance Highlights
FY25 Performance Highlights • Consolidated revenue of INR 20,063 mn(1) and EBITDA margin(2) of 85% Resilient • Portfolio PCU growth of 6.1%(3) y-o-y reaffirmed the portfolio’s consistent performance, in line with 6-year Portfolio PCU CAGR trend of 6.1%(3) Performance • All annuities received within
Slide 5: Portfolio Overview
Portfolio Overview Diversified portfolio of 17 assets (15 SPVs) across 9 states Toll Assets Annuity Assets 4,736 6.1%(1) 45.1(2) HAM Assets Lane km Traffic CAGR (FY19-25) 8-10 Distribution Till Date 17 (INR per unit) 3 6 190(2) 92:8(3) 85:15(3) 12 1 2 AUM (INR bn) AUM Mix (Toll:Annuity) Centre Vs St
Slide 6: Diversified Toll Portfolio Spread Across Key Traffic Corridors
Diversified Toll Portfolio Spread Across Key Traffic Corridors Toll projects spread across seven states that collectively contribute approximately Srinagar 45% of India's GDP. Assets are positioned along high-traffic corridors, providing JPEPL seamless connectivity to major urban centers, industrial
Slide 7: Portfolio to Benefit from Favorable Macro Tailwinds
Portfolio to Benefit from Favorable Macro Tailwinds Tourist Metro cities Emergence of Nagpur and Hyderabad as key logistics and warehousing hubs due to their strategic location and connectivity Ports Industrial Cities Lucknow Strong industrial and urbanization growth in Gujarat and MP with high Jodh
Slide 8: HIT Growth Journey
HIT Growth Journey Aug-Sep’22 Aug-Oct‘23 Jan’24 Jun-Sep’24 Jan- Feb’25 Today • Formation of InvIT and • Completed acquisition • Completed acquisition • Completed acquisition • Achieved appointed • Expected to complete listing of units of UTPL from of STPL and GRICL of BETPL date for TOT16 acquisitio
Slide 9: New Additions in Portfolio
New Additions in Portfolio Acquired 10 assets taking AUM to c.3.5x since listing. Only prominent InvIT to drive growth through acquisition of non-sponsor assets • Spanning 252 km, NTEPL is part of the NH44 North – South corridor between Nagpur and Hyderabad within state of Telangana • It is centrall
Slide 10: New Additions in Portfolio – NTEPL (TOT16)
New Additions in Portfolio – NTEPL (TOT16) Feb 2025 20 years 1,060 5 6.7% 6,034 mn Appointed Date Concession Period Lane Km No of Toll Plaza FY25 Traffic Growth FY26 Estimated Revenue NH44 Route TOT16 Stretch • TOT16 is a 252 km, 4 lane highway and part of the NH44 North–South corridor between Nagpu
Slide 11: Traffic Performance for FY25
Traffic Performance for FY25 FY25 portfolio PCU growth(1) of 6.1% YoY reaffirms the portfolio’s consistent performance, in line with 6-year PCU CAGR trend of 6.1%(1) PCU CAGR 8.7% 5.6% 2.3% 1.4% 2.6% 3.0% 4.5% 3.8% 7.9% 11.0% NA(3) FY19-25 FY25 PCU Growth 9.6% 4.9% (0.2%) 0.7% 3.2% 3.2% 5.4% 3.5% 9.
Slide 12: Proven Track Record of Consistent Distributions
Proven Track Record of Consistent Distributions Cumulative distributions of INR 45.1 / unit since listing in Aug 2022 16.2 16.6 12.3 >> 16.2 without dilution DPU (INR /unit) 9.4 Pref issue in Jan 2025 6.5 4.8 4.8 4.8 3.7 (1) 2.6 3.1 3.2 0.9 1.2 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24
Slide 13: FY25 Net Distributable Cashflow and Distribution
FY25 Net Distributable Cashflow and Distribution Distribution from SPV To Trust (INR mn)(1) SPV NDCF to Distribution (INR mn)(1) (2) Revenue (Toll +HAM) 20,063 Net Distributable Cashflow at SPV 17,506 (3) (8) Operating expenses (3,005) Other income 142 EBITDA 17,058 Trust expenses (140) (4) Opening
Slide 14: Prudent Debt Profile
Prudent Debt Profile INR 48,736(1) 8.23% 71% 25% Diversified Lenders 3.8x 11 years O/s Debt (INR mn) Rate of Interest Floating Rate borrowing Net Debt / AUM DSCR AAA Rating Residual Maturity Our Lenders Debt tie-up of INR 82,500 mn in Jan AAA Rated 2025 secured for TOT16 and portfolio of 12 assets t
Slide 15: Portfolio Updates - Operations
Portfolio Updates - Operations • Stabilized operations in acquired assets and implemented various optimization measures including rationalization / retendering of contracts and efficient deployment of manpower • Largest MM program in HIT’s history with overall spend of INR 3,348 mn in FY25 • Impleme
Slide 16: Case Study: Innovative Major Maintenance Strategies in UEPL and UTPL
Case Study: Innovative Major Maintenance Strategies in UEPL and UTPL Stone Matrix Asphalt (SMA) treatment in UTPL Plastic Road in UEPL, UTPL & BETPL • Implemented SMA treatment during the current MM cycle in UTPL (first cycle post- • Implemented partially on pilot basis in last 2 MM cycles acquisiti
Slide 17: Safety and ESG Updates
Safety and ESG Updates Environmental Social Safety Occupational Safety 2,340 1,500 Education received 4 trained 3 Fatality jobs 2 295 ton CO2e 1 265 kW 100% LTI LED lights at Scope 1 and 2 Solar installations all sites(1) GHG emission 2.5 lakh 2.3k FY24 FY25 in FY25 Environment reduction in FY25 Man
Slide 18: Key Industry Updates
Key Industry Updates • NHAI awarded road projects totaling c.4,200 km in FY2025 with activity picking up in FY2025Q4 • Project awards have slowed down over FY2024 and FY2025 due to delay in cabinet approval for revised cost of projects under Bharatmala Pariyojana NHAI Project program and restriction
Slide 19: Annexure
Annexure
Slide 20: HIT Structure
HIT Structure Others Funds managed by Existing portfolio of Signed pipeline of 12 Sponsor 71.7% 24.99% 3.3% KKR and/or its 11 Toll, 2 Annuity and assets (11 HAM assets affiliates, is the 4 HAM assets and 1 Toll asset) Sponsor of HIT under acquisition Highway Concessions One Pvt. Ltd. (HC1 or Investm
Slide 21: Portfolio Summary – Toll
Portfolio Summary – Toll Project # as per slide 5 1 2 3 4 7 11 12 13 14 15 16 1 Project Name GEPL DBCPL JPEPL UEPL UTPL GRICL-VH GRICL-AM STPL-NI STPL-TN BETPL NTEPL Madhya Andhra Andhra 2 State Gujarat Rajasthan Tamil Nadu Karnataka Gujarat Gujarat Karnataka Telangana Pradesh Pradesh Pradesh Conces
Slide 22: Portfolio Summary – Annuity/HAM
Portfolio Summary – Annuity/HAM Project # as per slide 5 5 6 8 9 10 17 1 Project Name NBPL SEPL GS RA AN RB 2 Concessioning Authority NHAI NHAI NHAI NHAI NHAI NHAI 3 Type of Concession Annuity Annuity HAM HAM HAM HAM 4 State Telangana Meghalaya Haryana Haryana Haryana Haryana 5 Length (lane km) 124
Slide 23: Key Management Personnel
Key Management Personnel Investment Manager Team Project Manager Team Mr. Gaurav Chandna Dr. Zafar Khan Mr. Abhishek Chhajer Ms. Meghana Singh Mr. GVK Kiran Babu (Joint CEO and Executive (Joint CEO and Executive (CFO) (General Counsel) (COO) Director) Director) • As a CEO, all critical IM positions
Slide 24: Highly Distinguished Independent Board of Directors
Highly Distinguished Independent Board of Directors Diverse board providing strong focus on governance and functional expertise c.40 Years of Experience c.38 c.30 Years of Experience Years of Experience Previous Organizations Previous Organizations Previous Organizations Area of Expertise: Public Mr
Slide 25: Profile of Board of Directors (Non-Executive & Nominee)
Profile of Board of Directors (Non-Executive & Nominee) Mr. Hardik Shah Ms. Ami Momaya Mr. Michael Nachaty (Non-Executive Director) (Non-Executive Director) (Unitholder Nominee Director) • c.19 years of experience managing investments in • c.20 years of experience in advisory role and • c.15 years o
Slide 26: Glossary of Terms
Glossary of Terms AN Ateli Narnaul Highway Pvt Ltd GS Gurgaon Sohna Highway Pvt Ltd HAM Hybrid Annuity Model AUM Asset Under Management GST Goods and Service Tax HC1 Highway Concessions One Private Limited BC Bituminous concrete HAM Hybrid Annuity Model NHAI National Highway Authority of India BETPL
Highways Infrastructure Trust — Investor Presentation (May 2025) on 6ix