InvIT Stocks and Companies in India

The largest InvIT stocks in India by market value are Altius Telecom Infrastructure Trust (₹51,882 crore), National Highways Infra Trust (₹32,733 crore) and Cube Highways Trust (₹20,419 crore), at prices of 4 Nov 2026.

• Altius Telecom Infrastructure Trust: ₹170.25 | market value ₹51,882 crore | P/BV 4.5
• National Highways Infra Trust: ₹169 | market value ₹32,733 crore | P/BV 1.4
• Cube Highways Trust: ₹151.92 | market value ₹20,419 crore | P/BV 2.3
• IndiGrid Infrastructure Trust: ₹169.69 | market value ₹19,312 crore | P/BV 2.7
• Powergrid Infrastructure Investment Trust: ₹104.92 | market value ₹9,548 crore | P/BV 1.3
• NDR INVIT Trust: ₹151.25 | market value ₹6,928 crore | P/BV 1.6
• IRB InvIT Fund: ₹59.69 | market value ₹6,095 crore | P/BV 0.9
• Shrem InvIT: ₹101.60 (close of 3 Nov 2026) | market value ₹6,207 crore | P/BV 1.0
• Sustainable Energy Infra Trust: ₹121.10 | market value ₹3,924 crore | P/BV 1.2

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 9 listed Indian Infrastructure Investment Trusts companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Infrastructure Investment Trusts 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. Altius Telecom Infrastructure Trust₹53,000 cr
2. National Highways Infra Trust₹32,600 cr
3. Cube Highways Trust₹20,300 cr
4. IndiGrid Infrastructure Trust₹19,200 cr
5. Powergrid Infrastructure Investment Trust₹9,420 cr
6. NDR INVIT Trust₹6,780 cr
7. IRB InvIT Fund₹6,310 cr
8. Shrem InvIT₹6,180 cr
9. Sustainable Energy Infra Trust₹3,970 cr

9 InvIT companies in the Infrastructure Investment Trusts industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 9 are listed below, largest first. The largest is Altius Telecom Infrastructure Trust (₹53,025 crore) and the smallest with a market value is Sustainable Energy Infra Trust.

Download all 9 InvIT companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 24% ahead of NIFTY 500. Earnings across its companies fell 2% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 9 weeks running.

Price up, without the fundamentals confirming. 5 of 9 companies 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 9 weeks running; 6 of the 9 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 5 of those 9 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 5 of the 9 that report earnings.

Participation is shrinking, 7 → 5 of 9 over four weeks, after being ahead of NIFTY 500. Earnings mixed, 5 of 9 members have higher trailing twelve-month earnings than a year ago.

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 its 9 companies. 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.

Infrastructure Investment Trusts has done better than the NIFTY 500 by 15.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 7.8%. Powergrid Infrastructure Investment Trust is the strongest against the sector itself at +5%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 7.9 as of 30 October 2026 (narrowing, rising).

Infrastructure Investment Trusts has done better than the NIFTY 500 by 15.7% over 52 weeks and by 7.8% over 13 weeks. 4 of 9 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (2 have no relative-strength reading yet), and 2 of the 4 with a long enough price history are 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.

Altius Telecom Infrastructure Trust has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 57.9% evidence confidence.

Powergrid Infrastructure Investment Trust scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

Ranked last: too little evidence (4 companies)

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

NDR INVIT Trust has the strongest one-year price move in Infrastructure Investment Trusts at +21.3%. It also leads on relative strength against the NIFTY, at +18.7%. 7 of 9 companies we track are ahead of the index on that measure (2 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 Infrastructure Investment Trusts 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

An early recovery near the top of a long sideways range, with improving relative performance but an unconfirmed breakout and uneven cash benefits. In the week of 5 October 2026, 100% of 8 Infrastructure Investment Trusts companies were beating the Nifty 500, against 85.7% on 25 May 2026.

From our industry review of 10 October 2026.

Adding assets and building electricity infrastructure are the clearest changes, supported by IndiGrid and IRB InvIT. Higher revenue is not reliably becoming higher cash payouts: IndiGrid guides modest payout growth, IRB guides a small reduction, and Powergrid needs acquisitions to protect future payouts. The opportunity is lasting, but the benefit to shareholders remains uneven.

From our industry review of 10 October 2026.

1 of 9 Infrastructure Investment Trusts companies held a results call for July to September 2026. IRB InvIT Fund guided: H2FY23 DPU ₹3.45 per unit including January to March 2023 ₹1.65, ₹6.7 annualized after rate hikes.

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 9 Infrastructure Investment Trusts companies, in percentage points.

Ownership and spending as of 10 October 2026.

2 chains of cause and effect link Infrastructure Investment Trusts to other industries right now. Future loan-loss rules can tighten the supply of finance. For Infrastructure Investment Trusts: Tighter financing could add difficulty to unfinished projects and asset purchases.

From our cross-industry review of 10 October 2026.

The next things that show whether the Infrastructure Investment Trusts story is on course. First: A sustained price move above the long range, supported by continued outperformance of NIFTY 500.

• July to September 2026 available cash and payouts at IndiGrid, including whether reserve use continues.
• Powergrid consortium approval and a named acquisition with financing terms and a cash contribution timetable.
• Confirmation that IRB's proposed Q2 acquisition closed and will contribute cash from Q3.

What would change the story

The existing payout warnings and IndiGrid's reserve use identify what the next results must disprove.

From our industry review of 10 October 2026.

Altius Telecom Infrastructure Trust has the highest Income among the 9 Infrastructure Investment Trusts companies compared here, at ₹24,160 crore. IndiGrid Infrastructure Trust is next at ₹5,016 crore. IRB InvIT Fund has the highest Income growth at 76.4%, so level and change sit with different companies. 9 of 9 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Altius Telecom Infrastructure Trust is the largest at ₹24,160 crore, 381.7% ahead of IndiGrid Infrastructure Trust. IRB InvIT Fund's growth is 76.4% from a ₹1,984 crore base, with 15 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Altius Telecom Infrastructure Trust is the size to compare against; IRB InvIT Fund 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: Altius Telecom Infrastructure Trust's growth falls below IRB InvIT Fund'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.

Altius Telecom Infrastructure Trust has the highest Net profit among the 9 Infrastructure Investment Trusts companies compared here, at ₹1,255 crore. Powergrid Infrastructure Investment Trust is next at ₹906 crore. Cube Highways Trust has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Altius Telecom Infrastructure Trust earns the most, ₹1,255 crore of profit over the last 12 months, 38.5% above Powergrid Infrastructure Investment Trust. Cube Highways Trust shows at least 100% on the scoring scale (690.8% in full) growth from a profit base of ₹245 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Altius Telecom Infrastructure 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 Infrastructure Investment Trusts comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, Altius Telecom Infrastructure Trust is highest at ₹52,667 crore, across 9 of 9 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.

IndiGrid Infrastructure Trust has the highest ROA among the 9 Infrastructure Investment Trusts companies compared here, at 4.6%. Altius Telecom Infrastructure Trust is next at 4.5%. Powergrid Infrastructure Investment Trust has the highest ROA change at −6.5 percentage points, so level and change sit with different companies. 3 of 9 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: IndiGrid Infrastructure Trust leads roa at 4.6%; Powergrid Infrastructure Investment Trust leads roa change at −6.5 percentage points.

What this means: IndiGrid Infrastructure 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.

Return on assets · company comparison

Withheld from this chart: IndiGrid Infrastructure Trust (INDIGRID): its two data sources disagree by up to 86% on reported income across 15 comparable periods, 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

Shrem InvIT has the highest ROE among the 9 Infrastructure Investment Trusts companies compared here, at 13.3%. Powergrid Infrastructure Investment Trust is next at 11.9%. Powergrid Infrastructure Investment Trust has the highest ROE change at −9 percentage points, so level and change sit with different companies. 9 of 9 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Shrem InvIT leads roe at 13.3%; Powergrid Infrastructure Investment Trust leads roe change at −9 percentage points.

What this means: Shrem InvIT 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.

Return on equity · company comparison

Withheld from this chart: IndiGrid Infrastructure Trust (INDIGRID): its two data sources disagree by up to 86% on reported income across 15 comparable periods, 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 Infrastructure Investment Trusts comparison reports gross NPA on a comparable basis, so there is nothing to rank here, 0 of 9 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: IndiGrid Infrastructure Trust (INDIGRID): its two data sources disagree by up to 86% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

Shrem InvIT has the lowest P/BV ÷ ROE among the 9 Infrastructure Investment Trusts companies compared here, at 0.08×. Powergrid Infrastructure Investment Trust is next at 0.1×. IRB InvIT Fund has the lowest P/BV at 0.95×, so level and change sit with different companies. 9 of 9 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Shrem InvIT has the lowest comparable P/BV ÷ ROE at 0.08×, 20% below Powergrid Infrastructure Investment 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

Infrastructure Investment Trusts companies show up on 4 of our India lists. The most are on the momentum stocks list (5 companies).

This Infrastructure Investment Trusts comparison names 8 specific ways its own evidence can mislead, all listed below. All 9 companies here report on comparable dates, so no rank carries a stale marker. 1 uses at least one figure from a second source we could not check. 1 has 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.
• 1 company draws at least one figure from a second data source that does not cover enough of the same periods to check against the main one; it is marked unverified wherever that figure appears.
• 1 company is 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 9 Infrastructure Investment Trusts 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.

1 of 9 companies draws 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.

1 of 9 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: IndiGrid Infrastructure Trust (INDIGRID): its two data sources disagree by up to 86% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 23 answers restate the Infrastructure Investment Trusts comparison above in question form. Every one is computed from the same 9 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.