Capital Infra Trust AUM Surges 42% to ₹66,114 Mn; Declares FY26 DPU of ₹11.6
New Delhi, May 21, 2026: Capital Infra Trust announced a robust financial performance for the fourth quarter and full fiscal year ended March 31, 2026. Driven by strategic portfolio expansion, the infrastructure investment trust (InvIT) reported a 42% year-on-year surge in Assets Under Management (AUM), reaching ₹66,114 million compared to ₹46,683 million in March 2025, the company said in a press release.
The trust’s portfolio now features 12 operational Hybrid Annuity Model (HAM) assets boasting an average residual life of 13.2 years. Bolstered by these assets, Capital Infra Trust received total annuities of ₹13,858 million for FY26, with Q4 alone accounting for ₹4,071 million. Reflecting value accretion from disciplined capital allocation, the Net Asset Value (NAV) strengthened to ₹74.7 per unit.
Financially, the trust witnessed explosive growth in the final quarter, fueled by asset acquisitions completed in December 2025. Total income for Q4FY26 skyrocketed 90% quarter-on-quarter to ₹3,449.7 million, bringing the full-year revenue to ₹9,201.8 million. Net profit for the fourth quarter jumped to ₹1,950.4 million from ₹107.6 million in Q3, culminating in a full-year net profit of ₹2,105.1 million.
Proactive debt management further optimized the trust’s capital structure. Capital Infra Trust raised ₹17,500 million in fresh term debt during Q4 at a competitive interest rate of 6.85% per annum to refinance high-cost debt. This diversification reduced the trust’s effective interest rate from 7.8% in December 2025 to 7.3% in March 2026, while leaving the Net Debt-to-AUM ratio at a comfortable 40.9%.
For unitholders, the trust declared a Q4FY26 distribution of ₹2.4 per unit, bringing the total FY26 distribution to ₹11.6 per unit. This translates to an aggregate payout of ₹4,360 million and a lucrative cash yield of 13.1%, based on the unit price from March 31, 2025.
Commenting on the performance, Hare Krishna, CEO of Capital Infra Trust, said:
“Capital Infra Trust delivered a strong performance in FY26, supported by disciplined execution of our annuity-led strategy and contribution from recently acquired assets. We scaled AUM by 42% to ₹66,114 Mn, strengthened NAV to ₹74.7 per unit, and delivered distributions of ₹11.6 per unit, translating to a cash yield of 13.1%. We also enhanced our balance sheet through proactive refinancing at competitive rates, which has improved cost efficiency and strengthened our ability to scale.
Our strategy remains focused on operational, NHAI-backed HAM assets that provide predictable cash flows and resilience against market volatility. Backed by annuity-linked revenues and disciplined financial management, the model supports stable and sustainable distributions for unitholders.
Looking ahead, we see strong visibility for acquisition-led growth through our sponsor-backed ROFO pipeline, which has expanded during the year. With ~5-8 assets targeted for acquisition in FY27, subject to customary approvals and closing conditions, we have a clear pathway to scale AUM towards ~₹100,000 Mn. This growth trajectory, combined with disciplined underwriting and capital allocation, supports our FY27 DPU guidance of ₹9.00–₹9.25 per unit and our commitment to delivering predictable, long-term returns.
”Looking forward, the trust has issued its financial guidance for FY27, targeting a distribution per unit (DPU) of ₹9.00 to ₹9.25. Based on the unit price as of March 31, 2026, management expects to sustain a strong cash yield between 13% and 13.5% for the upcoming fiscal year.4
