IRB InvIT Fund on Monday said it has recommended a distribution of Rs 3 per unit for Q4 FY18, bringing the total payout to investors to Rs 10.55 per unit, post listing.
IRB InvIT Fund on Monday said it has recommended a distribution of Rs 3 per unit for Q4 FY18, bringing the total payout to investors to Rs 10.55 per unit, post listing. Tushar Kawedia, chief financial officer, IRB InvIT Fund, told FE that the company expects to increase the payout to investors by about 2% in FY19. He said: “The distribution for FY18 was only for 318 days, which when annualised, comes to Rs 12.10 per unit. We expect to be able to pay out 2% more in the current year. Four of our projects showed double-digit growth in the last year and we expect this good growth to continue this year as well.”
An analyst with a domestic brokerage said that the distribution to investors was in line with the company’s projections at the time of its listing in May 2017. “Despite a major blip owing to the introduction of goods and services tax (GST), which adversely affected traffic growth for about a quarter, the company has been able to meet its estimates. Continued growth in traffic may boost revenue collection in future,” he said.
The trust, set up to own, operate and maintain a portfolio of toll-road concessions, is currently managing seven operational road assets with an aggregate value of approximately Rs 7,560 crore spread across Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.