Mumbai (Maharashtra) [India], May 15 (ANI): India’s first listed infrastructure investment trust IRB InvIT said on Saturday it will be distributing Rs 2.50 per unit for the quarter ended March (Q4 FY21).
The yearly distribution for FY21 totals Rs 8.50 per unit in spite of lower toll collection due to lockdowns arising out of Covid-19 pandemic. The distribution cost for IRB InvIT works out to Rs 145 crore.
The trust has set May 20 as a record date for distribution which will be paid to unit holders by May 29.
“It is encouraging to see that the FASTag penetration has crossed 90 per cent of total collections, which is further bringing in more efficiency and transparency,” said a spokesperson. “We hope the situation will improve in coming quarters.”
The trust reported gross income of Rs 334 crore in the January to March quarter and Rs 1,160 crore in FY21 while earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled Rs 275 crore in Q4 and Rs 934 in FY21.
IRB InvIT Fund is a trust settled by its sponsor IRB Infrastructure Developers Ltd and is registered under the SEBI’s Infrastructure Investment Trust Regulations 2014.
Set up to own, operate and maintain a portfolio of toll road concessions, it is managing seven operational road assets with an aggregate value of Rs 6,500 crore spread across the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Punjab.
The weighted average life of assets under InvIT portfolio is about 16 years. (ANI)
