TVS Infrastructure Trust successfully conducted its 1st Annual Meeting of Unitholders on June 25, 2026, through video conferencing. The meeting saw participation from 19 unitholders representing 16,60,11,425 units, which constituted 84.18% of the total votes cast. Key resolutions included the adoption of audited financial statements for the financial year ended March 31, 2026, and the ratification of the statutory auditor's appointment from FY25 to FY29.

The proceedings were chaired by Mr. P.S. Jayakumar, Non-executive Director and Chairperson of the Board. Senior management, including Mr. Nitin Aggarwal, Chief Executive Officer, and Mr. Ankit Dewan, Company Secretary & Compliance Officer, were present. The statutory auditor, PKF Sridhar and Santhanam LLP, and the scrutinizer, Mr. Nikunj Makwana of M/s KDA & Associates, also attended the meeting.

Unitholders were informed that the Statutory Auditors' Report contained no qualifications, observations, or adverse remarks. The Annual Secretarial Compliance Report had one observation, which was noted. Remote e-voting was facilitated by MUFG Intime India Private Limited, with the voting period concluding on June 24, 2026.

The business transacted at the meeting included the approval of the valuation report of the Trust's assets as at March 31, 2026. Additionally, the appointment and remuneration of the valuer were ratified for FY25 and FY26, and approved for FY27 and FY28. The scrutinizer's report and voting results will be intimated to the stock exchanges and made available on the Trust's website within the stipulated timelines.

Voting Results

The meeting concluded at 11:58 A.M. IST, following the vote of thanks and the closure announcement by the Chairperson. The summary of proceedings will be available on the Trust's website at www.tvsinfratrust.com .

TVS Infrastructure Trust convened its First Annual Meeting (AM) of Unitholders on Thursday, June 25, 2026, at 11:30 AM (IST), conducted through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting was called pursuant to Regulations 10, 22 and 23 of the SEBI (Infrastructure Investment Trusts) Regulations, 2014, and the SEBI Master Circular no. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025. The notice was filed with the National Stock Exchange of India Limited on June 03, 2026, along with the First Annual Report for the period ended March 31, 2026. The Trust's units were listed on the National Stock Exchange of India Limited on July 08, 2025, marking its first full year of operations as a listed Infrastructure Investment Trust (InvIT).

Annual Meeting Agenda

The First Annual Meeting transacted the following ordinary business items, all proposed to be passed by simple majority:

Remote e-voting was available from Saturday, June 20, 2026, at 09:00 AM to Wednesday, June 24, 2026, at 05:00 PM. The cut-off date for determining voting rights was Thursday, June 18, 2026.

FY 2025-26 Financial Performance

The Trust's consolidated financial results for the financial year ended March 31, 2026 reflect its first full year of operations following listing. The following table summarises the key consolidated financial metrics:

The Trust's standalone total income for the year ended March 31, 2026 stood at ₹10,948.63 Lakhs, with Profit After Tax of ₹9,455.72 Lakhs.

Key Capital Structure and Valuation Metrics

The Trust's consolidated capital structure and key financial ratios as of March 31, 2026 are summarised below:

The consolidated NAV per unit stood at ₹95.36 at book value and ₹110.16 at fair value as on March 31, 2026. Total portfolio fair value as assessed by the independent registered valuer was ₹3,17,172.0 Lakhs as on March 31, 2026.

Unit Price Performance and Distributions

The Trust's units were listed on July 08, 2025, at a unit price of ₹102. The unit price reached a high of ₹115 on February 25, 2026, and a low of ₹100.2 on July 09, 2025. The unit price at the close of the period on March 31, 2026, was ₹115. Total volume traded during the period was 2,48,75,000 units, with an average daily volume of 1,38,966.48 units.

The Trust declared three quarterly distributions during FY 2025-26:

The cumulative distribution for the financial year ended March 31, 2026 aggregates to ₹4.6 per unit. The total distribution declared for the financial year ended March 31, 2026, was ₹9,073.57 Lakhs.

Portfolio Overview and NCD Issuance

The Trust's portfolio comprises 18 industrial parks across 10 SPVs, with a total operational area of 92.49 lakh sq. ft. (lsf) and under-development area of approximately 14.46 lsf as on March 31, 2026. The portfolio maintained an average occupancy of over 98% during the year. Of the 14.46 lsf under development assets, 42% was pre-leased as of March 31, 2026.

A significant capital market milestone during the year was the issuance of ₹830 Crores in Non-Convertible Debentures (NCDs) in January 2026, as the first tranche of the Trust's ₹1,100 Crores NCD program. The issuance carries a 20-year tenor maturing in 2046, with a coupon of 7.42% per annum, and was anchored by the National Bank for Financing Infrastructure and Development (NaBFID). The NCDs were rated [ICRA] AAA (stable) by ICRA Limited.

Statutory Auditor and Valuer Profiles

PKF Sridhar & Santhanam LLP (ICAI Firm Registration Number: 003990S/S200018) is proposed as Statutory Auditor for the period FY 2026-27 to FY 2028-29. The firm has 28 partners and over 800 professionals, with expertise across infrastructure, BFSI, manufacturing, and other sectors.

M/s. iVas Partners (IBBI Registration Number: IBBI/RV-E/02/2020/112) serves as the Independent Valuer of the Trust. The firm is a registered valuation entity with IBBI under the Companies Act, providing valuation, advisory, and technical due diligence services across land & building, plant and machinery, and securities and financial assets. The partners of iVAS have a cumulative experience of about 70 years in consulting, valuations, and advisory services.

Meeting Logistics and E-Voting

The deemed venue for the First Annual Meeting is the principal place of business of the Trust at 9th Floor (Part), Iconic Building, Urmi Estate, 95, Ganpatrao Kadam Marg, Lower Parel (West), Delisle Road, Mumbai-400013, Maharashtra, India. The AM Notice was sent electronically to Unitholders whose email addresses are registered as on the cut-off date of May 29, 2026. MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited) was engaged as the Registrar and Transfer Agent for the purpose of providing the remote e-voting facility. Mr. Kaushal Dalal (Certificate of Practice No. 7512), Partner of M/s KDA & Associates, Practising Company Secretaries, was appointed as the Scrutinizer for the e-voting process.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE1JNC23012/b3b845bddb2e4288.pdf