Participated in Earning call – Q2/25 Earning call highlights.
IRB InvIT Fund Q2 FY2024-25 Earnings Conference Call
- Next 2-3 years, DPU will be @ 2 per Q
- Next 3-5 years, annual DPU can be @ Rs 9-9.5, even with one assets going out in Jan – 26.
- INVITs are not allowed to buy units from open market, nor does it has funds.
- H1 is affected due to heavy rains, normally H2 collection is better. May see bit rise in DPU of Rs. 2 in Q3/Q4.
- DPU distribution eating away @ 97-98% of toll collection (Minus expenses). This can be concern as own fund will be limiting factor in future assets acquisition.
- Investment manager evaluated @ 32 assets, only 2 got materialized. (Extremely poor performance of Investment manager) Practical danger of IRB INVIT investment managers losses assets to other INVIT in future.
- Interest rate cut can enhance DPU.
- FY 2025 two new HAM assets can be added.
- FY 2026 one BOT assets can be added
- Commercial vehicles contribute @ 70-80% of toll collection.
Any one has idea, lets say I am holding 5000 units right now. What will happen to my investment (@ 62X5000 = 3,10,000) when there is no assets left with INVIT? Thus, price recovering to face value is distant possibility. It can go further down if no new assets added and old assets goes back to NHAI.
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