National Highways Infra Trust submitted an addendum to the valuation report for the financial year ended 31 March 2026, correcting the reference period for historical data to FY 2022–23, FY 2023–24, and FY 2024–25. The addendum, issued by independent valuer Ernst & Young Merchant Banking Services LLP, supersedes the previous intimation dated 13 May 2026 regarding the valuation of the trust's specified assets. The filing ensures compliance with Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.

The valuation report covers the equity valuation of three special purpose vehicles (SPVs): NWPPL, NEPPL, and NSPPL. Ernst & Young determined the Net Asset Value (NAV) of National Highways Infra Trust as at 31 March 2026. The addendum provides revised historical figures for these assets, noting that annual valuations for March 2023 and March 2024 were previously conducted by RBSA Valuation Advisors LLP.

Valuation of Specified Assets

The addendum details the enterprise value, debt, cash, and resulting equity value for each SPV over the past three financial years. For NWPPL, the equity value rose to INR 27,051 million in March 2025 from INR 19,562 million in March 2023. NEPPL's equity value stood at INR 20,726 million in March 2025, while NSPPL reported an equity value of INR 26,102 million for the same period.

Financial Breakdown of SPVs

Annual valuation for Mar'23 and Mar'24 was done by RBSA Valuation Advisors LLP.

The addendum was signed by Nilesh Jain, Partner at Ernst & Young Merchant Banking Services LLP, and addressed to the Investment Manager, National Highways Infra Investment Managers Private Limited. The document was filed with the exchanges on 28 May 2026.

National Highways Infra Trust has confirmed full compliance with the Structured Digital Database (SDD) requirements under the SEBI (Prohibition of Insider Trading) Regulations, 2015 for the financial year ended March 31, 2026. The National Highways Infra Trust submitted the compliance certificate to BSE Limited and NSE Limited on May 27, 2026, following directives from exchange circulars dated October 18, 2024. The certification validates the integrity of the internal systems used to track Unpublished Price Sensitive Information (UPSI).

The certificate was issued by M/s. Makarand M. Joshi & Co., Practicing Company Secretaries, following an audit of the Trust's digital infrastructure. The auditor confirmed that the Trust successfully captured all 31 required events during the financial year. The report verified that the database is non-tamperable, maintains an audit trail, and is capable of preserving records for eight years as mandated by regulations.

Key Compliance Findings

The certification process assessed the Trust's adherence to specific operational and security protocols defined under Regulation 3(5) and 3(6) of the PIT Regulations. The auditor confirmed that control mechanisms governing access to the SDD were effective throughout the year.

The Trust, acting through its Investment Manager National Highways Infra Investment Managers Private Limited, ensured that every instance of UPSI dissemination was logged with the nature of the information and the precise date and time. The auditor reported that no instances of non-compliance were observed during the review period covering the financial year ended March 31, 2026.