IRB InvIT Fund to distribute Rs. 2.40 per unit for Q3 FY22

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IRB InvIT Fund (the Trust), India’s first listed Infrastructure Investment Trust will distribute Rs. 2.40 per unit for Q3 FY22. The Trust, today, announced it in a Board Meeting of the Investment Manager, IRB Infrastructure Pvt. Ltd. held in Mumbai for the Financial Results for the 3^rd quarter of FY22.

With this, the cumulative distribution for 9 months in FY22 is now Rs. 6.40 per unit, which includes Rs. 3.60 per unit as an interest component and Rs. 2.80 as return of capital. The cumulative distribution for 9 months of FY22 is Rs. 371.52 Crores, which includes the distribution of Rs. 139.32 Crores for Q3.

While commenting on the occasion, the Spokesperson, IRB Infrastructure Pvt. Ltd. said, “Restarting toll collection on Pathankot Amritsar Highway Asset and up-scaled toll collection through FASTags across all assets has been encouraging. Continued growth in collection is being witnessed across assets which will get strong support further from expected tariff increase, for most of the portfolio, basis the 13.6% WPI reported for the month of December. Also, to add, our lenders have re-financed the trust debt, which has brought down our cost of financing by a sizeable quantum; we are grateful to our lenders for the same.” He further added, “While excelling in performance of the assets, our search for viable assets to add to basket continues.”

Highlights of Q3FY21:

The Pathankot Amritsar Highway asset under the Trust, recommenced toll collection w.e.f. 16^th December 2021.

Also, the electronic toll collection through FASTag was seen scaled up to around 96% of the aggregate toll collection, after the FASTag was made mandatory a year ago, i.e., in February 2021. The trust looks forward to achieve 100% toll collection through FASTag in coming quarters.

The Trust through its Investment Manager undertook the re-financing exercise, which had resulted in bringing down the average cost of financing from 7.60% to 7.25%.