Capital Infra Trust Reports Strong Q4 and FY26; AUM Climbs 42% YoY to ₹66,114 Mn

Capital Infra Trust Reports Strong Q4 and FY26; AUM Climbs 42% YoY to ₹66,114 Mn​

Capital Infra Trust (InvIT), a leading infrastructure investment trust, announced its financial results for the fourth quarter and full year ended March 31, 2026. The Trust reported significant growth, with its Assets Under Management (AUM) increasing by 42% year-over-year.

The Trust's performance in FY26 highlighted execution in scaling its asset base and strengthening its balance sheet, resulting in a sustainable distribution profile backed by operating Hybrid Annuity Model (HAM) assets.

Operational and Financial Highlights​

Portfolio Growth and Assets:
The AUM grew by 42% year-over-year, reaching ₹66,114 Mn, up from ₹46,683 Mn in March 2025. The Trust's portfolio currently comprises 12 operational HAM assets, which have an average residual life of 13.2 years.

In terms of cash flows, the Trust received annuities amounting to ₹13,858 Mn in FY26, with ₹4,071 Mn received specifically in Q4FY26. Furthermore, the Net Asset Value (NAV) strengthened to ₹74.7 per unit, reflecting value accretion from disciplined capital allocation.

Capital Structure and Debt:
As of March 2026, the Net Debt/AUM stood at 40.9%, providing headroom for potential future acquisitions. During Q4FY26, the Trust raised ₹17,500 Mn in fresh term debt at a competitive rate of 6.85% per annum, signaling an intention to continue refinancing high-cost debt. The borrowing profile was diversified through a mix of fixed and floating rate loans, with the effective interest rate declining from 7.8% in December 2025 to 7.3% in March 2026.

Distribution and Yield:
For Q4FY26, the Trust declared a distribution of ₹2.4 per unit, totaling ₹1,179.7 Mn. Over the full fiscal year (FY26), the Trust distributed ₹11.6 per unit, which amounted to ₹4,360 Mn in aggregate. The Cash Yield for FY26 was 13.1%, calculated based on the unit price of Rs. 88.51 as of March 31, 2025.

Consolidated Financial Performance Review​

The Trust reported strong growth across its consolidated financials for the year. Total income for FY26 stood at ₹9,201.8 Mn, driven by portfolio expansion following acquisitions made in December 2025.

The financial results for the quarter and the full year are detailed below:


Additionally, EBITDA for Q4FY26 was ₹2,818.0 Mn, up significantly from ₹478.4 Mn in Q3FY26. Net profit in Q4FY26 was ₹1,950.4 Mn compared to ₹107.6 Mn in Q3FY26.

Management Outlook​

Hare Krishna, CEO of Capital Infra Trust, stated that the strong performance in FY26 was supported by the disciplined execution of the annuity-led strategy and the contribution of recently acquired assets.

The management noted that the strategy remains focused on operational, NHAI-backed HAM assets, which are expected to provide predictable cash flows.

Looking ahead, the company anticipates continued growth through its sponsor-backed pipeline. The Trust has targeted acquiring approximately 5 to 8 assets in FY27, with a clear path to scale its AUM towards ₹100,000 Mn.

For FY27, the Trust provided the following guidance:

• DPU: ₹9.0 to ₹9.25 per unit
• Cash Yield: Approximately 13% to 13.5% (based on unit price as of March 31, 2026)

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Capital Infra Trust is an infrastructure investment trust sponsored by Gawar Construction Limited.

CAPINVIT Stock Price Movement​

Shares of Capital Infra Trust are rallying to ₹71.5 as of 10:44 AM, pushing the stock up 2.16% in live trading with a gain of ₹1.51. The title is seeing heavy volume today, with 238,036 shares traded in the market so far.