IRB InvIT announces Q2FY21 results

IRB InvIT, India’s first listed Infrastructure Investment Trust will distribute Rs.2.00 per unit for Q2FY21; thus, taking cumulative per unit distribution for the FY21 to Rs. 3.50.

The Board of IRB Infrastructure Pvt. Ltd., the Investment Manager to the IRB InvIT Fund, today announced the financial results of IRB InvIT Fund for second quarter and first half of FY21 and declared distribution of Rs.116 Crores to the Unit Holders translating into payout of Rs.2.00 per unit for the second quarter. This comprises of Rs. 1.50 per unit as Interest and Rs 0.50 per unit towards Capital reduction.

The Trust has set 4th November 2020 as a record date for distribution and the same will be paid to the unit holders on or before13th November 2020.

While commenting on the occasion, Mr. Vinod Kumar Menon, Executive Director & CEO of the Investment Manager said, “Despite partial unlocking across the country, the second quarter witnessed much improvement in the operations. With expectations of further improvements with more unlocking, we are pleased to state that as expected the normalcy in toll collections at all our projects is almost achieved and at present the toll collection is at par and above in comparison with the corresponding quarter of FY20.”

Highlights of the Performance:

PeriodQ2 FY 21* (Rs. In Crs)Q2 FY 20 (Rs. In Crs)

                                *Q2 FY21 numbers reflect impact of lockdown due to COVID-19

To update, the Surat Dahisar BOT Concession under IRB InvIT has successfully concluded its conciliation process with NHAI and received extension of 460 days for the Concession Period. As a result, now the Surat Dahisar Concession Period will expire on 25th May 2022, instead previous transfer date of 21st February 2021.

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