IRB InvIT Fund has successfully completed its board meeting and announced comprehensive Q3FY26 results along with distribution declaration following the previously scheduled February 11, 2026 board meeting.

Board Meeting Outcomes and Financial Results

The Investment Manager's board meeting concluded with approval of consolidated and standalone unaudited financial information for the quarter and nine months ended December 31, 2025. The board also declared the 3rd distribution for financial year 2025-26.

Distribution Declaration Details

The board declared a comprehensive distribution structure for the 3rd distribution of Rs 1.50 per unit, comprising multiple components:

Portfolio Expansion and Strategic Acquisitions

The Trust has significantly expanded its portfolio through strategic acquisitions during the quarter. Effective November 1, 2025, the Trust acquired 100% equity share capital of three project SPVs from IRB Infrastructure Trust for Rs 49,050.00 million, resulting in an enterprise value of Rs 84,360.00 million.

Corporate Governance and Leadership Changes

The board also approved the re-appointment of Mr. Rushabh Gandhi (DIN: 08089312) as Executive Director for a three-year term effective March 31, 2026, subject to shareholder approval. He will continue serving as Chief Financial Officer of the Investment Manager.

Nine-Month Performance Summary

For the nine months ended December 31, 2025, the Trust demonstrated strong operational performance with total income of Rs 10,213.02 million compared to Rs 8,277.56 million in the corresponding previous period. The cumulative distribution for 9MFY26 reached Rs 5.00 per unit, including previous distributions of Rs 2.00 per unit and Rs 1.50 per unit.

Source: IRB InvIT Fund regulatory filing

IRB Infrastructure Developers has successfully completed the transfer of VM7 Expressway Private Limited to IRB InvIT Fund, receiving Rs.513 crores as equity consideration. The transaction, announced on February 2, 2026, marks the completion of a strategic asset transfer that will reduce the company's consolidated debt by approximately Rs.700 crores.

Transaction Details

The transfer involves the complete handover of VM7 Expressway Private Limited, which operates the Gandeva Ena Hybrid Annuity Model (HAM) project. This asset forms part of the upcoming New Delhi Mumbai Greenfield Expressway and represents a key component of NHAI's Package-VII under India's Bharatmala Pariyojana.

Strategic Impact and Management Commentary

Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers, emphasized the transaction's alignment with the company's Bid–Execute–Stabilize–Transfer strategy. The deal demonstrates effective capital recycling and value realization from matured assets while reinforcing disciplined portfolio optimization.

"The transaction has reinforced our strategy demonstrating effective capital recycling and value realization from matured assets," stated Mhaiskar. He added that the proceeds will facilitate IRB's pursuit of future growth opportunities in the infrastructure sector.

Enhanced InvIT Fund Portfolio

With this acquisition, IRB InvIT Fund has strengthened its operational portfolio significantly. The trust now manages 10 highway assets across multiple Indian states, providing diversified geographical exposure and enhanced revenue stability.

About IRB Group

IRB Group comprises IRB Infrastructure Developers Limited and two listed Infrastructure Investment Trusts. The group operates as India's leading toll road concessionaire with an assets portfolio of 28 highways covering approximately 17,500 operational lane kilometers and an asset base of approximately Rs.94,000 crores spread across 13 Indian states.

The group maintains a significant market share of 44% in the awarded TOT space through 6 TOT assets, complemented by the largest BOT portfolio of 18 highway assets and 4 hybrid annuity highway assets. With daily movement of around 1.5 million vehicles across its highway assets, the group contributes approximately 10% to national toll revenue.