IndiGrid Reports Steady Earnings Growth In Q2 FY27 And Commissions Key Projects
New Delhi, November 6, 2026: India Infrastructure Trust (IndiGrid) announced its financial results for the quarter ended September 30, 2026, reporting steady growth alongside the commissioning of a standalone battery energy storage system and an inter-state transmission project, according to a press release issued by the trust.
For the second quarter of FY27, IndiGrid recorded an 8.4% year-on-year increase in operational revenue to Rs 872 crore, while operational EBITDA rose 7.9% to Rs 782 crore. Net Distributable Cash Flow (NDCF) reached Rs 380 crore, representing a 4.7% year-on-year growth, while Profit After Tax (PAT) expanded by 102%. Reported revenue stood at Rs 1,315 crore, reflecting mandatory accounting inclusions for service concession revenue from projects under construction.
During the quarter, the trust commissioned Rajasthan BESS Private Limited, a 250 MW / 500 MWh standalone battery storage facility in Rajasthan, bringing its operational battery storage capacity to approximately 1 GWh. It also commissioned Ishanagar Power Transmission Limited in Madhya Pradesh, featuring a 4,000 MVA substation and 33 circuit kilometers of lines. Furthermore, IndiGrid signed agreements to acquire two transmission projects in Himachal Pradesh from EnerGrid at a combined enterprise value of up to Rs 6,650 crore upon commissioning.
The Investment Manager approved a Distribution Per Unit (DPU) of Rs 4.12 for the quarter, aligning with its full-year guidance of Rs 16.48. As of September 30, 2026, assets under management totaled Rs 33,667 crore, with a Net Debt to AUM ratio of 60.4%.
“We delivered consistent performance this quarter and met our distribution guidance,” said Harsh Shah, Managing Director of IndiGrid. “We also signed agreements to acquire two more transmission projects from EnerGrid and have since commissioned our largest battery storage project to date, located in Rajasthan, and another transmission project in Madhya Pradesh. Together, these steps add to the stability and visibility of our cash flows.”
Shah added: “India’s power demand is rising quickly, and the next phase of the energy transition depends on moving and storing clean power, not just generating it. That will need large investment in transmission and storage, backed by long-term, patient capital. InvITs are well placed to provide it. IndiGrid and EnerGrid continue to evaluate new transmission and storage projects to keep our growth pipeline strong, consistent and visible. We will pursue these opportunities, while maintaining our financial discipline, with the aim of delivering stable and growing distributions to our unitholders.”\
