Raajmarg Infra Investment Trust declares ₹2.43 Q2 payout

Raajmarg Infra Investment Trust declared a distribution of ₹2.43 per unit for Q2FY27, with a total payout of ₹1,458 crore, following its first full quarter of operations after listing in March 2026. The record date is November 9, 2026, and payments are due within five working days thereafter.

What did Raajmarg Infra Investment Trust approve for Q2FY27?

Raajmarg Infra Investment Trust approved a ₹2.43 per-unit distribution for the quarter ended September 30, 2026. The Board of Directors of its investment manager, Raajmarg Infra Investment Managers Private Limited, approved the unaudited standalone and consolidated results on November 4, 2026.

The ₹1,458 crore payout is the trust's first distribution covering a full operational quarter after its March 2026 listing. The trust said the distribution is primarily composed of interest income. Its board also considered the valuation report and net asset value, or NAV, as of September 30 while reviewing the quarterly financial position.

The declaration follows an October 30 notice that said the board would review the Q2FY27 and half-year financial results, the valuation report, NAV and a potential distribution. The November 4 decision completed that stated agenda.

When will Raajmarg Infra Investment Trust unitholders receive the distribution?

Raajmarg Infra Investment Trust has fixed November 9, 2026 as the record date for determining eligible unitholders. The payment is scheduled to be made within five working days after the record date, subject to the operational process stated in the announcement.

The trust had 60 crore outstanding units at its first annual meeting in July 2026. The declared distribution of ₹2.43 per unit corresponds to the reported aggregate payout of ₹1,458 crore. For income-focused unitholders, the record date determines entitlement to this specific quarterly payment.

The announcement comes after the trust reported no investor complaints during the quarter ended September 30, 2026. Separately, Axis Bank nominee director Anil Agarwal ceased to hold office effective September 13, 2026, according to a September disclosure.

What do Raajmarg Infra Investment Trust's half-year financials show?

Raajmarg Infra Investment Trust reported consolidated revenue from operations of ₹4,784.92 crore for the half year ended September 30, 2026, supported by toll collections from its underlying road assets. Consolidated profit after tax for the period was ₹13.21 crore, while the standalone entity reported profit after tax of ₹40.43 crore.

At the trust level, net distributable cash flow, or NDCF, was ₹28.98 crore for H1FY27. This calculation includes surplus cash available with the trust and distributions received from its subsidiary, Raajmarg 1 Projects Private Limited. NDCF and the quarterly distribution are reported under different measures and periods in the disclosure.

The trust's NAV per unit, based on an independent valuer's fair valuation, stood at ₹110.12 as of September 30, compared with ₹100.72 on March 31, 2026. NAV is a valuation measure of the trust's underlying assets and should be read separately from the quarterly distribution amount.

How did Raajmarg Infra Investment Trust's operations progress after listing?

Raajmarg Infra Investment Trust's financial disclosures show operating activity building after the listing and project commissioning phase. A separately reported Q1FY27 comparison showed revenue of ₹232 crore against nil revenue in the preceding March 2026 quarter, alongside an operating profit of ₹89 crore and net profit of ₹57 crore.

That Q1 comparison reported an operating profit margin of 38.1% and earnings per unit of ₹0.95, compared with a loss per unit of ₹0.07 in the preceding quarter. These figures reflected the start of revenue recognition from the trust's road assets, though the half-year results now provide the broader reported operating picture.

The trust is sponsored by the National Highways Authority of India. In a separate development, the authority gave in-principle approval for 10 road sections covering 910.76 km for potential acquisition by the trust. The disclosure does not state a final acquisition timeline or transaction value for those sections.

What do the leverage and valuation measures mean for unitholders?

Raajmarg Infra Investment Trust reported a net borrowings ratio of 33.58%, down from 36.48% in the previous partial period. The disclosure attributed the reduction to scheduled repayments and cash accumulation, indicating lower borrowings relative to the applicable base measure during the ramp-up phase.

Its interest service coverage ratio was 1.50 times in H1FY27, compared with 1.72 times in the previous partial period. This ratio tracks the ability to service interest obligations from the relevant earnings or cash-flow measure and remains a key metric for investors assessing infrastructure trust debt obligations.

For investors, the key reported facts are the ₹2.43 per-unit distribution, the ₹110.12 NAV and the revenue contribution from toll assets. There is no market-price reaction following the November 4 announcement in the supplied disclosures, so the immediate trading impact cannot be established from the available information.

Conclusion

Raajmarg Infra Investment Trust's Q2FY27 declaration establishes a ₹2.43 per-unit payout worth ₹1,458 crore in its first full operational quarter after listing. The half-year disclosure also reported ₹4,784.92 crore of toll-led revenue, ₹13.21 crore of consolidated profit after tax, a ₹110.12 NAV per unit and a lower net borrowings ratio.

The next disclosed event for unitholders is the November 9, 2026 record date, followed by distribution payment within five working days. Investors will also watch for any subsequent decision on the 10 NHAI-approved road sections proposed for potential acquisition and for further updates on cash flow, leverage and toll operations.