Capital Infra Trust AUM Rises 42% YoY to ₹66,114 Mn
Capital Infra Trust reported a 42% YoY increase in AUM to ₹66,114 Mn for the year ended March 31, 2026. The Trust declared a total distribution of ₹11.60 per unit for FY26 and ₹2.40 for Q4 FY26, achieving a cash yield of 13.1%. Net profit for Q4 FY26 stood at ₹1,950.4 Mn. The Trust has set a FY27 DPU guidance of ₹9.00–₹9.25 per unit and aims to reach an AUM of ₹100,000 Mn.
*this image is generated using AI for illustrative purposes only.
Capital Infra Trust has announced its financial results for the quarter and financial year ended March 31, 2026, reporting a 42% year-on-year growth in Assets Under Management (AUM) to ₹66,114 Mn. The Trust declared a distribution per unit (DPU) of ₹2.40 for Q4 FY26, totaling ₹1,179.7 Mn, and ₹11.60 per unit for the full year FY26, amounting to ₹4,360 Mn. The cash yield for FY26 stood at 13.1%, based on a unit price of ₹88.51 as on March 31, 2025.
Financial Performance
The Trust's consolidated financial position shows a Net Debt to AUM ratio of 40.9% as of March 31, 2026. Total income during Q4 FY26 grew by 90% quarter-on-quarter to ₹3,449.7 Mn, while EBITDA for the quarter was ₹2,818.0 Mn. Net profit for Q4 FY26 was ₹1,950.4 Mn, compared to ₹107.6 Mn in the previous quarter. For the full year, total income stood at ₹9,201.8 Mn and net profit was ₹2,105.1 Mn. The Trust raised ₹17,500 Mn of fresh term debt in Q4 FY26 at a competitive rate of 6.85% p.a., reducing its effective interest rate from 7.8% in December 2025 to 7.3% in March 2026.
| Metric | Q4 FY26 | FY26 |
|---|---|---|
| Distribution per unit (₹) | 2.40 | 11.60 |
| Gross Distribution (₹ Mn) | 1,179.7 | 4,360.0 |
| Total Income (₹ Mn) | 3,449.7 | 9,201.8 |
| Net Profit (₹ Mn) | 1,950.4 | 2,105.1 |
Operational Highlights
The Trust operates a diversified portfolio of 12 operational road assets with a total design length of 2,745 km and an average residual life of 13.2 years. The portfolio is entirely Hybrid Annuity Model (HAM) assets, which eliminates traffic risk and provides annuity-based revenue. The Trust received annuities amounting to ₹13,858 Mn in FY26 and ₹4,071 Mn in Q4 FY26. The Net Asset Value (NAV) strengthened to ₹74.7 per unit.
Future Outlook
Capital Infra Trust has provided guidance for FY27, targeting a DPU of ₹9.00–₹9.25 per unit and a cash yield of approximately 13%-13.5%. The Trust has identified a target acquisition pipeline of ₹71,740 Mn for FY27, comprising eight projects with a total length of 248 km. Additionally, a ROFO (Right of First Offer) pipeline of 17 assets provides visibility for future expansion, with the Trust on track to achieve an AUM of approximately ₹100,000 Mn by FY27.
How might rising interest rates or tightening credit conditions impact Capital Infra Trust's ability to refinance debt at competitive rates below 7% in FY27?
With the Trust targeting ₹100,000 Mn AUM by FY27 through eight new acquisitions, what integration risks or execution challenges could affect the projected DPU of ₹9.00–₹9.25?
Given that the entire portfolio is HAM-based and annuity revenue depends on NHAI payments, how exposed is the Trust to potential delays or disputes in government annuity disbursements?
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