IRB InvIT Fund may acquire multiple assets in next six months
IRB InvIT Fund on Tuesday said the company may acquire multiple assets in the next six months.
IRB InvIT Fund, an infrastructure investment trust (InvIT) promoted by road developer IRB Infrastructure, on Tuesday said the company may acquire multiple assets in the next six months.
For the third quarter, the fund recommended distribution of Rs 3.10 per unit, while the management had earlier guided for FY19 distribution to come at Rs 12.3 per unit.
In an interview to CNBC-TV18, Tushar Kawedia, chief financial officer, said, "The impact on revenue growth was due to routine maintenance of Surat-Dahisar stretch, which is the highest contributor to the revenues. However, Q4 would see revenue growth."
"Meanwhile, Jaipur-Deoli project was affected due to sand mining ban in the state last year around mid-November, which impacted Q3 numbers. The ban is expected to continue for another quarter, said Kawedia, "Post that, the expected traffic growth of 5-5.5 percent on inflation of 2.5 percent would be achievable for that project."
Kawedia said the fund expects traffic growth of 5-5.5 percent in FY20, "Presently InvIT has the potential of acquiring 2-3 assets with 100 percent debt in range of Rs 4,000-4,500 crore."
First Published: Jan 22, 2019 1:59 PM IST
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