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Revenue
₹198.2 Cr
verification pending
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Indus Infra Trust reported stable Q3 FY26 performance with consolidated total income of ₹198.20 crore and standalone PAT of ₹87.50 crore. The board approved a distribution of ₹3.40 per unit, bringing cumulative 9-month DPU to ₹10.00, on track for annual guidance. Revenue from operations (finance income + contract revenue) was ₹179.12 crore. The trust executed SPAs for four KNR assets and one GR asset, with equity IRRs of ~12% for GR and slightly higher for KNR. Management expects to close two KNR assets this quarter and two more next quarter. Guidance for FY27 DPU will be provided after acquisitions close. Risks include interest rate movements, execution delays in asset acquisitions, and capital market conditions.
Colored figures show movement against the previous available record.
Guidance to track
- Management will provide specific DPU guidance for FY27 after closing acquisitions and Q4 results, expected around May 2026.
- {"title":"Two KNR assets likely to close this quarter","content":"Two of the four KNR assets (Kar Palmi and Ramagiri) are targeted for acquisition within Q4 FY26, subject to lender and NHAI approvals.","category":"expansion","specificity":"medium","verifiable_next_quarter":true}
- Management expects incremental cost of borrowings to be in the range of 6.85% to 7.1%.
Risks flagged
- Acquisition of KNR assets may slip to next quarter due to lender and NHAI approvals, impacting growth timeline.
- Rising interest rates and tight liquidity could increase borrowing costs and affect acquisition funding.
- Post-acquisition LTV may rise to 52-53%, requiring equity fundraising which could dilute unit holders.
Key quotes
- The equity IRR for KNR assets is a little higher than the GR assets which are around 12%.
- We are trying that two of the four KNR assets if we can acquire within this quarter.
- The trajectory what we look at is 6.85 to 7.1 that's your incremental borrowing cost.
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