National Highways Infra Trust (NHIT), acting through its Investment Manager — National Highways Infra Investment Managers Private Limited — has formally dispatched the notice for its 5th Annual Meeting (AM) of Unitholders, scheduled to be held on Monday, July 27, 2026, at 4:00 PM (IST) via Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The notice, along with the Annual Report for the financial year 2025-26, has been electronically dispatched to unitholders whose email addresses are registered with NHIT or its Registrar and Transfer Agent, KFin Technologies Limited, as on June 25, 2026. The Annual Report is also available on the Trust's website at www.nhit.co.in .

Key Resolutions on the Agenda

The 5th Annual Meeting will consider three ordinary business resolutions. The following table summarises the key agenda items:

The re-appointment of the Valuer and the remuneration fixed by the Board are subject to unitholder approval. The proposed remuneration for EY as Valuer remains unchanged from the previous term, with annual fees of ₹1,20,000 (excluding GST) for a single project, monthly fees at 15% of the annual fee (if required), and quarterly/semi-annual fees at 30% of the annual fee (if required).

E-Voting and Participation Details

Unitholders will be able to participate and vote electronically. The remote e-voting facility will be open from 9:00 AM (IST) on Friday, July 24, 2026, to 5:00 PM (IST) on Sunday, July 26, 2026. The cut-off date for determining eligible voters is Monday, July 20, 2026. Voting during the AM will also be available through the e-voting system provided by KFin Technologies Limited.

The voting results will be declared on or before July 29, 2026, and communicated to the Stock Exchanges and displayed on the Trust's website.

FY 2025-26 Financial Performance

The Annual Report accompanying the meeting notice reflects significant growth in NHIT's financial performance. The following table presents the summary of audited consolidated financial results:

Total distributions for FY 2025-26 stood at ₹2,233.99 crore (₹11.33 per unit), compared to ₹1,031.27 crore (₹7.67 per unit) in FY 2024-25. The Trust's asset base expanded by approximately ₹6,366 crore during the year, taking total assets to ₹50,993.57 crore. The enterprise valuation of NHIT's specified assets as at March 31, 2026 stood at ₹57,373 crore, with a post-distribution NAV of ₹150.47 per unit. NHIT's investor base grew to over 700 investors, up from 323 in the previous year.

Portfolio and Operational Highlights

As at March 31, 2026, NHIT holds a diversified portfolio of 28 operating toll road projects with an aggregate length of 2,653 km across 12 states, following the successful completion of its 5th round of asset acquisition. NWPPL signed two new concession agreements with NHAI for a concession fee of ₹6,366.93 crore for a period of 20 years. The Trust's credit ratings were reaffirmed at AAA by both India Ratings & Research and CARE Ratings Limited. NHIT also achieved a CareEdge ESG Rating of ESG-2 with a score of 60.3, positioning it among the top-performing peers in India's infrastructure and highway sector. All three SPVs — NWPPL, NEPPL, and NSPPL — are certified under ISO 14001:2015 and ISO 45001:2018.

The decisions were communicated to BSE Limited and National Stock Exchange of India Limited in compliance with SEBI InvIT Regulations and SEBI LODR Regulations.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0H7R23014/2ad05be588964178.pdf

National Highways Infra Trust reported an 81% increase in total revenue from operations to ₹4,274 crore for the financial year ended March 31, 2026, driven by the monetization of Round 4 assets. Profit after tax for the period stood at ₹686 crore, compared to ₹325 crore in the previous year. The trust’s Net Asset Value (NAV) per unit reached ₹150.5 as of March 26, reflecting steady growth since inception.

Financial Performance

The consolidated financial performance for FY26 shows significant growth across key metrics. Revenue from Operations for Round 1 and 2 assets (SPV 1 NWPPL) was ₹1,098 crore, while Round 3 assets (SPV 2 NEPPL) contributed ₹1,513 crore. Following the April 1, 2025, appointed date for Round 4 assets (SPV 3 NSPPL), these assets added ₹1,663 crore to the revenue stream.

The trust’s distribution per unit increased to ₹11.329 in FY26 from ₹7.671 in the previous year. Total units outstanding rose to 213.85 crore from 193.68 crore, partly due to the fund raise in Round 5 during March 2026.

Operational Metrics

Traffic and revenue performance varied across the trust’s portfolio. For NWPPL, locations such as KK and BM saw commercial traffic growth along the NH 44 corridor, with revenue increasing by 15% and 13% respectively. However, traffic diversion at AP and AS due to alternate roads being made free by the Ministry of Road Transport and Highways impacted performance. In NEPPL, RKJL reported a 14% revenue growth following the addition of the Katni Bypass length and revised toll rates. NSPPL assets, which were under a transition period until September 2025, showed strong recovery in H2 FY26, with MH traffic growing by 36%.

Portfolio and Governance

National Highways Infra Trust holds a portfolio of approximately 2,655 km acquired in five rounds, with an enterprise value of ₹57,373 crore as of March 31, 2026. The portfolio is predominantly located in high-growth states, with Andhra Pradesh, Madhya Pradesh, and Uttar Pradesh contributing 19%, 16%, and 14% respectively to FY26 revenue. The trust maintains a credit rating of AAA by CARE and India Ratings and holds ISO 14001:2015 and ISO 45001:2018 certifications across all SPVs.