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Capital Infra Trust, a leading infrastructure investment trust (InvIT), has announced its financial results for the fourth quarter and full year ended March 31, 2026.
FY26 marks a year of execution, with the Trust scaling its asset base, strengthening the balance sheet and establishing a sustainable distribution profile backed by operating HAM assets.
Key Operational & Financial Highlights (Q4 & FY26):
Portfolio Performance
o AUM increased by 42% YoY to ₹66,114 Mn as against ₹46,683 Mn in Mar’25
o The trust’s portfolio comprises 12 operational HAM assets with an average residual life of 13.2 years
o Received annuities amounting to ₹13,858 Mn in FY26 and ₹4,071 Mn in Q4FY26
o NAV strengthened to ₹74.7/unit, reflecting value accretion from disciplined capital allocation
Capital Structure
o Net Debt/AUM stood at 40.9% as of Mar’26, providing headroom to support future acquisitions
o Raised ₹17,500 Mn of Fresh term debt in Q4FY26 at a competitive rate of 6.85% p.a. and plan to continue to refinance high-cost debt
o Diversified the borrowing profile through a mix of fixed and floating rate loans, with the effective interest rate declining from 7.8% in Dec’25 to 7.3% in Mar’26
Distributions
o Declared ₹2.4 per unit distribution for Q4FY26, totaling ₹1,179.7 Mn
o Distributed ₹11.6 per unit during FY26 (₹4,360 Mn in aggregate)
o Cash Yield of 13.1% in FY26 (Yield calculated based on unit price of Rs. 88.51 as on 31st Mar’25)
Consolidated Financial Performance:
o Total income during the quarter grew by 90% QoQ to ₹3,449.7 Mn as against ₹1,818.6 Mn in Q3FY26. For FY26, total income stood at ₹9,201.8 Mn, driven by portfolio expansion following the December 2025 acquisitions
o EBITDA for Q4FY26 was ₹2,818.0 Mn against ₹478.4 Mn in Q3FY26. EBITDA for FY26 was ₹4,016.9 Mn
o Net profit in Q4FY26 was ₹1,950.4 Mn against ₹107.6 Mn in Q3FY26. FY26 net profit was at ₹2,105.1 Mn
Commenting on the performance, Hare Krishna, CEO of Capital Infra Trust, said: “Capital Infra Trust delivered a strong performance in FY26, supported by disciplined execution of our annuity-led strategy and contribution from recently acquired assets. We scaled AUM by 42% to ₹66,114 Mn, strengthened NAV to ₹74.7 per unit, and delivered distributions of ₹11.6 per unit, translating to a cash yield of 13.1%. We also enhanced our balance sheet through proactive refinancing at competitive rates, which has improved cost efficiency and strengthened our ability to scale.
Our strategy remains focused on operational, NHAI-backed HAM assets that provide predictable cash flows and resilience against market volatility. Backed by annuity-linked revenues and disciplined financial management, the model supports stable and sustainable distributions for unitholders.
Looking ahead, we see strong visibility for acquisition-led growth through our sponsor-backed ROFO pipeline, which has expanded during the year. With ~5-8 assets targeted for acquisition in FY27, subject to customary approvals and closing conditions, we have a clear pathway to scale AUM towards ~₹100,000 Mn. This growth trajectory, combined with disciplined underwriting and capital allocation, supports our FY27 DPU guidance of ₹9.00–₹9.25 per unit and our commitment to delivering predictable, long-term returns.”
