IRB InvIT Fund to distribute Rs. 2.50 per unit for Q3 FY21
IRB InvIT Fund (the Trust), India’s first listed Infrastructure Investment Trust will distribute Rs. 2.50 per unit for Q3 FY21. The Trust, today, announced it in a Board Meeting of an Investment Manager, IRB Infrastructure Pvt. Ltd. held in Mumbai for the Financial Results for the 3rd quarter of FY21.
With this, the cumulative distribution for 9 months in FY21 is now Rs. 6.00 per unit, which includes Rs. 4.80 per unit as an interest component and Rs. 1.20 as return on capital. The cumulative distribution of Cash Flow for 9 months of FY21 is Rs. 348 Crores, which includes the Cash Flow distribution of Rs. 145 Crores for Q3.
While commenting on the occasion, the Spokesperson, IRB Infrastructure Pvt. Ltd. said, “It is encouraging to see the traffic rebound across all our projects resulting in toll collections increasing beyond pre-COVID 19 levels. In ensuing months, we expect it to improve further corresponding to the recovery in economy. Additionally, increasing FASTag penetration across the projects helps in managing higher traffic in more efficient and transparent manner.”
The Trust has set 21st January 2021 as a record date for distribution and the Distribution will be paid / dispatched to the unit holders on or before 30th January 2021.
Financial Highlights of Q3 FY 21:
|Period||Q3 FY 21 (Rs. In Crs)||Q3 FY 20 (Rs. In Crs)|
About IRB InvIT Fund:
IRB InvIT Fund is the Trust settled by its Sponsor, IRB Infrastructure Developers Ltd and is registered under the SEBI’s Infrastructure Investment Trust Regulations 2014.
The Trust, set up to own, operate and maintain portfolio of toll road concessions, is managing seven operational road assets at present, with an aggregate value of approximately Rs.72.5bn spread across the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.
The Weighted Average life of Assets under InvIT Portfolio is ~16 years.