InvIT and REIT Stocks and Companies in India

The largest InvIT and REIT stocks in India by market value are Knowledge Realty Trust (₹49,160 crore), Bagmane Prime Office REIT (₹36,017 crore) and Vertis Infrastructure Trust (₹17,365 crore), at prices of 4 Nov 2026.

• Knowledge Realty Trust: ₹110.86 | market value ₹49,160 crore | P/BV 1.1
• Bagmane Prime Office REIT: ₹105.93 | market value ₹36,017 crore
• Vertis Infrastructure Trust: ₹115 | market value ₹17,365 crore | P/BV 2.71
• Maple Infrastructure Trust: ₹145 (price from the week of 11 Oct 2026) | market value ₹9,981 crore | P/BV 1.8
• Indus Infra Trust: ₹129.32 | market value ₹8,149 crore | P/BV 1.21
• RaajMarg Infra Investment Trust: ₹119.11 | market value ₹7,194 crore | P/BV 1.21
• Citius Transnet Investment Trust: ₹116.97 | market value ₹7,135 crore
• Nxt-Infra Trust: ₹97.50 (price from the week of 16 Oct 2026) | market value ₹5,272 crore | P/BV 1.15
• Capital Infra Trust: ₹78.89 | market value ₹3,936 crore | P/BV 1.1
• Roadstar Infra Investment Trust: ₹61 (close of 3 Nov 2026) | market value ₹2,778 crore | P/BV 0.7

The other 2 InvIT and REIT companies are in the full list below.

Share price | market value | P/BV or P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 12 listed Indian Infra/Real Estate Investment Trust companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Infra/Real Estate Investment Trust index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Knowledge Realty Trust₹48,500 cr
2. Bagmane Prime Office REIT₹35,900 cr
3. Vertis Infrastructure Trust₹17,400 cr
4. Maple Infrastructure Trust₹9,980 cr
5. Indus Infra Trust₹8,150 cr
6. RaajMarg Infra Investment Trust₹7,190 cr
7. Citius Transnet Investment Trust₹6,860 cr
8. Nxt-Infra Trust₹5,270 cr
9. Capital Infra Trust₹3,930 cr
10. Roadstar Infra Investment Trust₹2,780 cr
11. TVS Infrastructure Trust₹2,390 cr
12. Anantam Highways Trust₹2,210 cr

11 InvIT and REIT companies in the Infra/Real Estate Investment Trust industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 11 are listed below, largest first. The largest is Knowledge Realty Trust (₹48,468 crore) and the smallest with a market value is Anantam Highways Trust.

Download all 11 InvIT and REIT companies (CSV)

The line below covers up to 2.7 years. Over the last two years (104 weeks) this sector is 10% ahead of NIFTY 500. Earnings across its companies fell 8% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 11 weeks running.

5 of the 11 companies with a long enough price record pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 11 weeks running; 6 of the 10 companies in the industry index above their 200-day average (1 more than four weeks earlier); 5 of those 11 pass the momentum test (3 fewer than four weeks earlier); earnings rising at 1 of the 4 that report earnings.

Participation is shrinking, 8 → 5 of 11 over four weeks, after being ahead of NIFTY 500. Earnings-led fade, only 1 of 4 members have higher trailing twelve-month earnings than a year ago, so the fade has the earnings behind it.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of 11 of its 12 companies (the 1 with too short a price record are ranked in the scorecard but cannot sit in this line). The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Infra/Real Estate Investment Trust has done better than the NIFTY 500 by 18.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 9.6%. Vertis Infrastructure Trust is the strongest against the sector itself at +0.8%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 6.7 as of 30 October 2026 (broadening, falling).

Infra/Real Estate Investment Trust has done better than the NIFTY 500 by 18.6% over 52 weeks and by 9.6% over 13 weeks. 2 of 12 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (7 have no relative-strength reading yet), and 1 of the 3 with a long enough price history is ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Anantam Highways Trust has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 54.2% evidence confidence.

Ranked last: too little evidence (9 companies)

Under 60% of the evidence behind these scores is available, so they rank after every company above, whatever the score.

TVS Infrastructure Trust has the strongest one-year price move in Infra/Real Estate Investment Trust at +15.7%. Capital Infra Trust leads on relative strength against the NIFTY, at +12.3%. 4 of 12 companies we track are ahead of the index on that measure (7 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Infra/Real Estate Investment Trust itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

1 of 14 Infra/Real Estate Investment Trust companies held a results call for July to September 2026. Anantam Highways Trust guided: Maintain quarterly distribution at ₹2.75 per unit as base with gradual increase over time going forward.

From the results calls for July to September 2026.

Spending on plants is not a useful measure for a lender, so it is left out.

Big funds = foreign and Indian institutions, change in their share of ownership across 12 Infra/Real Estate Investment Trust companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Infra/Real Estate Investment Trust figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 18 Apr 2026, so the words are older than the numbers. 1 theme is live here.

The InvIT sector remains a highly attractive yield play with visible growth triggers. Managements are successfully executing dual strategies: aggressively acquiring ROFO assets to extend terminal value and refinancing debt to protect margins. Despite regulatory friction regarding asset transfer approvals and leverage caps, the sector's trajectory is firmly bullish.

The Infra/Real Estate Investment Trust (InvIT) sector is demonstrating visible momentum, characterized by aggressive AUM expansion and planned debt refinancing. With a STRONG demand environment reported by ANANTAM and INDUSINVIT, and IMPROVING conditions for TVSINVIT, the trusts are leveraging their tax-efficient structures to maximize Net Distributable Cash Flows (NDCF).

How old this read is: OLD: this read comes from our Infra/Real Estate Investment Trust sector brief dated 18 Apr 2026, about 7 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Infra/Real Estate Investment Trust sector brief, 18 Apr 2026 · company earnings-call transcripts.

Vertis Infrastructure Trust has the highest Income among the 12 Infra/Real Estate Investment Trust companies compared here, at ₹4,126 crore. Maple Infrastructure Trust is next at ₹2,032 crore. Maple Infrastructure Trust has the highest Income growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Vertis Infrastructure Trust is the largest at ₹4,126 crore, 103.1% ahead of Maple Infrastructure Trust. Maple Infrastructure Trust's growth is capped at 100% on the scoring scale; the full change over the last 12 months is 131.2% from a ₹2,032 crore base, with 10 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Vertis Infrastructure Trust is the size to compare against; Maple Infrastructure Trust is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Vertis Infrastructure Trust's growth falls below Maple Infrastructure Trust's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

Income · company comparison

Income · largest

Income growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Knowledge Realty Trust has the highest Net profit among the 12 Infra/Real Estate Investment Trust companies compared here, at ₹2,867 crore. Vertis Infrastructure Trust is next at ₹871 crore. Vertis Infrastructure Trust has the highest Profit growth at 51.5%, so level and change sit with different companies. 9 of 12 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Knowledge Realty Trust earns the most, ₹2,867 crore of profit over the last 12 months, 229.2% above Vertis Infrastructure Trust. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Knowledge Realty Trust sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

No company in this Infra/Real Estate Investment Trust comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, Vertis Infrastructure Trust is highest at ₹11,574 crore, across 12 of 12 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

What this means: The current leader sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

Funding base · company comparison

Deposits · largest deposit bases

Not enough comparable data.

Borrowings · largest borrowings

All-company data · latest reported quarter

Deposits is left out: no company here reports it on a comparable basis.

Deposit scale can lower funding risk, while rising wholesale borrowings can change cost and liquidity. Asset quality and margins decide whether the funding base creates value.

Anantam Highways Trust has the highest ROA among the 12 Infra/Real Estate Investment Trust companies compared here, at 9.4%. Capital Infra Trust is next at 4.3%. The same company also has the highest ROA change, at +3.1 percentage points. 7 of 12 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Anantam Highways Trust leads both roa at 9.4% and roa change at +3.1 percentage points.

What this means: Anantam Highways Trust sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

No quarter-by-quarter ROA chart yet: these companies have too few comparable reported quarters. The latest figures are in the table below.

Withheld from this chart: Knowledge Realty Trust (KRT): its two data sources disagree by up to 50% on reported income across 4 comparable periods, so its derived ratios are withheld; Indus Infra Trust (INDUSINVIT): its two data sources disagree by up to 202% on reported income across 1 comparable period, so its derived ratios are withheld; Capital Infra Trust (CAPINVIT): its two data sources disagree by up to 105% on reported income across 1 comparable period, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROA · highest

ROA change · fastest improvers

All-company data · latest reported quarter

Anantam Highways Trust has the highest ROE among the 12 Infra/Real Estate Investment Trust companies compared here, at 16.8%. Knowledge Realty Trust is next at 10.6%. The same company also has the highest ROE change, at +17.2 percentage points. 11 of 12 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Anantam Highways Trust leads both roe at 16.8% and roe change at +17.2 percentage points.

What this means: Anantam Highways Trust sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.

No quarter-by-quarter ROE chart yet: these companies have too few comparable reported quarters. The latest figures are in the table below.

Withheld from this chart: Knowledge Realty Trust (KRT): its two data sources disagree by up to 50% on reported income across 4 comparable periods, so its derived ratios are withheld; Indus Infra Trust (INDUSINVIT): its two data sources disagree by up to 202% on reported income across 1 comparable period, so its derived ratios are withheld; Capital Infra Trust (CAPINVIT): its two data sources disagree by up to 105% on reported income across 1 comparable period, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROE · highest

ROE change · fastest improvers

All-company data · latest reported quarter

No company in this Infra/Real Estate Investment Trust comparison reports gross NPA on a comparable basis, so there is nothing to rank here, 0 of 12 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Sep 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

Withheld from this chart: Knowledge Realty Trust (KRT): its two data sources disagree by up to 50% on reported income across 4 comparable periods, so its derived ratios are withheld; Indus Infra Trust (INDUSINVIT): its two data sources disagree by up to 202% on reported income across 1 comparable period, so its derived ratios are withheld; Capital Infra Trust (CAPINVIT): its two data sources disagree by up to 105% on reported income across 1 comparable period, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

Anantam Highways Trust has the lowest P/BV ÷ ROE among the 12 Infra/Real Estate Investment Trust companies compared here, at 0.06×. Knowledge Realty Trust is next at 0.1×. Roadstar Infra Investment Trust has the lowest P/BV at 0.71×, so level and change sit with different companies. 7 of 12 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Anantam Highways Trust has the lowest comparable P/BV ÷ ROE at 0.06×, 40% below Knowledge Realty Trust. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. A lower figure is better only if loan quality and returns stay strong; a low price against book value while bad loans are rising is not a good sign by itself.

Valuation · company comparison

P/BV ÷ ROE · lowest return-adjusted price

P/BV · lowest P/BV

All-company data · latest reported quarter

Infra/Real Estate Investment Trust companies show up on 5 of our India lists. The most are on the momentum stocks list (6 companies).

This Infra/Real Estate Investment Trust comparison names 8 specific ways its own evidence can mislead, all listed below. All 12 companies here report on comparable dates, so no rank carries a stale marker. 4 use at least one figure from a second source we could not check. 3 have second-source figures left out because the two sources disagree.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROE can come from heavy borrowing. It is best read beside ROA and loan quality.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
• 4 companies draw at least one figure from a second data source that does not cover enough of the same periods to check against the main one; they are marked unverified wherever those figures appear.
• 3 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

This comparison is built from the reported filings of 12 Infra/Real Estate Investment Trust companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

4 of 12 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

3 of 12 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Knowledge Realty Trust (KRT): its two data sources disagree by up to 50% on reported income across 4 comparable periods, so its derived ratios are withheld; Indus Infra Trust (INDUSINVIT): its two data sources disagree by up to 202% on reported income across 1 comparable period, so its derived ratios are withheld; Capital Infra Trust (CAPINVIT): its two data sources disagree by up to 105% on reported income across 1 comparable period, so its derived ratios are withheld.

These 23 answers restate the Infra/Real Estate Investment Trust comparison above in question form. Every one is computed from the same 12 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.