IRB InvIT Fund , a prominent infrastructure investment trust, has announced a significant increase in its toll revenue for November 2025. The fund reported a 16% year-on-year growth compared to November 2024, showcasing strong performance across its portfolio of Special Purpose Vehicles (SPVs).

Revenue Growth

The fund's gross toll revenue increased by 16% on a year-on-year basis for November 2025. This growth reflects improved performance across the fund's infrastructure portfolio, benefiting unitholders and demonstrating the operational strength of the tollway assets.

Key Contributors

Multiple tollway projects contributed to this growth, including:

• IRB Tumkur Chitradurga Tollway Limited
• M.V.R. Infrastructure & Tollways Limited

Previous Month's Performance

For context, in October 2025, the fund had reported an 11% year-on-year growth compared to October 2024. The breakdown for October 2025 was as follows:

Upcoming Financial Results

IRB InvIT Fund has scheduled its Q2 and H1 FY26 results announcement for November 13, 2025. The fund plans to conduct an earnings call on the same day at 4:30 pm IST to discuss the Trust's performance.

Board Meeting and Distribution Consideration

The Board of Directors of the Investment Manager of IRB InvIT Fund is set to meet on November 13, 2025, to consider and take on record the consolidated and standalone unaudited financial information for the quarter and half year ended September 30, 2025. The board will also consider the declaration of the 2nd distribution, if any, for the financial year 2025-26. If declared, the record date for this distribution will be November 18, 2025.

The strong growth in toll revenue suggests a positive trend for IRB InvIT Fund, potentially indicating improved traffic flow and operational efficiency across most of its projects. Investors and analysts will likely look forward to the upcoming financial results and any distribution announcements for a more comprehensive view of the fund's performance.

IRB InvIT Fund , India's first listed Infrastructure Investment Trust, has successfully completed a significant acquisition of three highway assets from IRB Infrastructure Trust, marking a substantial expansion of its portfolio. This strategic move, valued at Rs 8,436 crores, not only enhances the fund's asset base but also extends its geographical footprint into new states.

Key Highlights of the Acquisition

• Assets Acquired: 100% equity share capital of three Project SPVs:

  1. IRB Hapur Moradabad Tollway Limited (IHMTL)
  2. Kaithal Tollway Limited (KTL)
  3. Kishangarh Gulabpura Tollway Limited (KGTL)

• Investor Support: The acquisition was backed by marquee global and domestic investors, who infused approximately Rs 4,250 crores.

• Portfolio Expansion: With this acquisition, IRB InvIT Fund's project portfolio now includes:

  • 9 revenue-generating highway projects
  • An enterprise value of approximately Rs 16,000 crores
  • Over 4,200 operational lane kilometres

• Geographic Expansion: The fund has extended its footprint to Uttar Pradesh and Haryana.

• Concession Life: The weighted average life of concession has increased from 14 years to 17 years.

Impact on IRB InvIT Fund's Portfolio

Management Commentary

Mr. Rushabh Gandhi, Director and CFO of IRB Infrastructure Private Limited (the Investment Manager of IRB InvIT Fund), expressed gratitude to investors, stating, "We are deeply grateful to all our investors for their overwhelming response and continued trust in IRB InvIT's strategy and growth vision. The success of the acquisition marks a significant milestone in our journey."

Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Sponsor, commented on the deal's significance: "The successful conclusion of the acquisition deal between the two InvITs will be a very good value enhancement to the Stakeholders of all three entities, i.e., IRB Infra as well as both the InvITs." He further emphasized that the strong investor response demonstrates the trust and credibility that the IRB Group has built over the last three decades.

Implications for Investors

This acquisition represents a significant step in IRB InvIT Fund's growth strategy. The expanded portfolio and increased concession life could potentially lead to enhanced distributions and sustained value creation for unitholders. The trust's ability to attract substantial investor support for this acquisition also underscores market confidence in its business model and growth prospects.

As the infrastructure sector continues to play a crucial role in India's economic development, strategic moves like this acquisition position IRB InvIT Fund to capitalize on the sector's growth opportunities while providing investors with exposure to a diverse and expanding portfolio of highway assets.

Investors and market watchers will likely keep a close eye on how this acquisition translates into financial performance and unitholder returns in the coming quarters.