Thats the tricky part, say by tomorrow if lease agreements are signed for infra projects with 15 lease period(I am not sure of lease period in case of project assets, assuming it will be same as rolling stocks), the lease amount is decided by Straight-line methods which is little different how our personal or home loans are calculated. It is calculated by total amount divided by repayment term plus interest. So 4lakh crore/15 year= 26,666 crore.
So by next year IRFC AUM will be reduced 26666 crores. If we wish IRFC to grow its AUM by 10% which is 440000 crores, they have to lend 66,666 crores. If 20% growth expected, they have to lend atleast 106666 crore.
if you see yearly disbursement for past few year they are disbursing similar amount only(Excluding COVID year, which is one time) but they have shown their AUM growth at 20%+, but hereafter this growth will slowdown. Gearing ratio will not be a issue even it crosses 10.
I also have similar hope in IRFC, considering 7% dividend yield and 8% of profit growth on YoY, on total i am looking for 15% ROI. As long as price remains in similar range, I will reinvested dividend amount. Will see how things pan out
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