IRB InvIT Fund (Infrastructure Investment Trusts) — fundamental analysis, earnings data, and key metrics. PE: 14.4. ROE: 8.8%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Feb 28, 2026
What: Acquisition of four SPVs for Rs 54,180 million adding ~₹2,000 cr annual revenue
Impact: +₹200 Cr revenue
“Board approved acquisition of four SPVs for Rs 54,180 million total consideration with management stating 'three assets acquired recently contributed meaningfully to growth'”
What: VM7 HAM project acquisition expected to add ₹60 cr quarterly revenue
Impact: +₹60 Cr revenue
“Management stated 'enhanced portfolio-mix of matured operational BOT assets and annuity-generating HAM assets would deliver good returns to Unitholders'”
What: Strong toll revenue performance continuing into FY26
Impact: +₹200 Cr revenue
“IRB Group Achieves Approx. 15% YoY Growth in Aggregate Toll Revenue in January 2026”
Earnings deceleration risks from management commentary
Trigger: Continued debt-funded acquisitions
Impact: -200 bps margin impact
Management view: Interest cost including interest for the three acquired assets stood at 153 crores as against 69 crores for the corresponding quarter of previous year
Monitor: Interest coverage ratio
Trigger: Continued focus on capital return vs interest
Impact: -5% PAT impact
Management view: Distribution structure now comprises Rs 0.95 interest + Rs 0.44 return of capital + Rs 0.11 dividend
Monitor: Unit price performance
Key quotes from recent conference calls
“The quarter under review remained vibrant, supported by strong toll performance across the portfolio. In particular, the three assets acquired recently contributed meaningfully to growth. — Rushabh Gandhi”
“The enhanced portfolio-mix of matured operational BOT assets and annuity-generating HAM assets would deliver good returns to the Unitholders and maximize the value, ensuring sustained long-term benefits for them. — Rushabh Gandhi”
“The gross revenue was around 500 crores. So the revenue was 500. If I analyze that 2,000 crores will be the revenue number for annual business and if I will take even conservative growth of 9 to 10%, we are talking about 200 crores kind of addition... — Management”
“We have delivered and we believe that we will be able to reach 40,000 in terms of the opportunity which is available. — Management”
Forward-looking targets from management for Next 2-4 quarters
Revenue Growth Target
9%
Implied PAT Growth
5%
Key Milestones
• Integration of four acquired assets
• VM7 HAM project ramp-up
• Traffic growth maintenance
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 28, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
IRB InvIT Fund's latest quarterly results (Dec 2025) show
IRB InvIT Fund's current PE ratio is 14.4x.
IRB InvIT Fund's price-to-book ratio is 2.1x.
IRB InvIT Fund's fundamental strength based on key financial ratios
IRB InvIT Fund has a debt-to-equity ratio of N/A.
IRB InvIT Fund's return ratios over recent years
IRB InvIT Fund's operating cash flow is positive (FY2025).
IRB InvIT Fund's current dividend yield is 13.20%.
IRB InvIT Fund is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
IRB InvIT Fund has 3 key growth catalysts identified from recent earnings analysis
IRB InvIT Fund has 2 key risks worth monitoring
In Q3 FY26, IRB InvIT Fund's management highlighted
IRB InvIT Fund's management has provided the following forward guidance for Next 2-4 quarters
Based on quantitative research signals, here is why IRB InvIT Fund may be worth studying
IRB InvIT Fund investment thesis summary:
IRB InvIT Fund's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
