IRB InvIT Fund reported gross toll revenue of ₹1,401 million for September 2026, reflecting a 6% year-on-year increase from ₹1,323 million recorded in the same period last year.

The growth was primarily supported by strong performance from the Tumkur Chitradurga Tollway, which contributed ₹375 million, up from ₹337 million in September 2025. The Hapur Moradabad Tollway also saw an uptick, generating ₹301 million compared to ₹289 million a year earlier.

Asset-wise performance breakdown

The fund’s revenue base is diversified across seven project SPVs. While most assets showed positive momentum, the Kishangarh Gulabpura Tollway witnessed a marginal decline in collections.

Note: Revenue for Tumkur Chitradurga is net of revenue from the Tumkur bypass stretch for the previous period to ensure comparable basis.

What the numbers show

The aggregate growth masks divergent trends within the portfolio. The top two contributors, Tumkur Chitradurga and Hapur Moradabad, together accounted for ₹676 million, or approximately 48% of the total monthly revenue. Their combined year-on-year increase of ₹50 million effectively offset the ₹7 million decline seen at Kishangarh Gulabpura. This concentration highlights the fund’s reliance on these two high-traffic corridors for sustaining overall yield stability.

Three projects acquired by the fund effective November 1, 2025 (Kaithal, Kishangarh Gulabpura, and Hapur Moradabad) are included in the comparison figures solely for analytical consistency, as their prior-year numbers represent standalone performance rather than consolidated contributions to the InvIT during that specific month.

IRB InvIT Fund reported a sponsor and investment manager holding of 17.16% of total outstanding units as on September 30, 2026. This disclosure follows the recent preferential issue and institutional placement, reflecting the updated ownership structure post-capital restructuring.

The filing, submitted to BSE and NSE under SEBI (Infrastructure Investment Trusts) Regulations, 2014, details the distribution of 1,653,060,316 total units. The sponsor group, comprising the Investment Manager and related parties, holds 283,740,000 units. Of this, corporate bodies within the sponsor group hold 265,400,000 units (16.12%), while individuals hold 17,340,000 units (1.05%).

Public holding composition

Public holding accounts for 82.84% of the total units, totaling 1,369,320,316 units. Institutional investors hold 44.35% (733,156,185 units), while non-institutional investors hold 38.48% (636,164,131 units).

Foreign Portfolio Investors (FPIs) remain the largest single category in public holding with 31.62% (522,723,978 units). Mutual funds hold 7.34% (121,366,373 units), followed by NBFCs at 5.79% (95,698,600 units). Individual investors hold 18.50% (305,881,348 units).

What the numbers show

The data reveals a significant concentration of foreign capital alongside stable domestic institutional support. FPIs alone control nearly one-third of the fund's equity, exceeding the combined holdings of Mutual Funds, Insurance Companies, and Provident/Pension Funds. Meanwhile, the Sponsor Group’s mandatory holding of 266,400,000 units represents 93.89% of their total stake, indicating limited free float among sponsor-held units.