IMO there are 2 reasons for this. First is that IRB InvIT has acquired only 1 asset after 2017 and they may not even acquire anything this year.
Second, there is a new public listed InvIT, Bharat Highway InvIT which has only HAM assets and cashflow here is more stable. They also have a dividend yield of 11%.
Overall, IRB InvIT seems to be at mercy of its sponsor IRB infra and the sponsor also has a private REIT to distribute assets. I listened to Bharat InvIT first earnings calls and they seem to be aggressive in adding assets and have plans for around 7-8 assets in next 2 years.
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