Mumbai, Aug 13: IndiGrid, India’s first and largest publicly listed power sector infrastructure investment trust (InvIT), today announced its financial results for the quarter ended June 30, 2026, along with key business updates.
Financial Update:
Operational revenue for the quarter stood at ₹930 crore, representing a 18.9% year-on-year increase, driven primarily by the the addition of new projects in the portfolio during the last fiscal – through acquisitions as well as commissioning of under-construction projects. This growth translated into EBITDA of ₹860 crore, a margin of 89.1% and year-on-year growth of 23.6%.
Reported revenue includes service concession revenue from BOOT (Build-Own-Operate-Transfer) under-construction assets as per the accounting standards. Accordingly, reported revenue for the quarter stood at ₹1,087 crore, a growth of 29.4%, and reported EBITDA was at ₹906 crore, a margin of 80.7% and growth of 28.7%.
Net Distributable Cash Flow (NDCF) for the quarter was ₹370 crore, reflecting a year-on-year growth of 29.4% on the back of asset additions over the last one year. As of June 30, 2026, IndiGrid had Assets Under Management (AUM) of ₹34,041 crore, with a Net Debt to AUM ratio of 58.5%. The collections profile across both segments remained healthy, with collections of 95% and 38 receivable days for transmission assets, and 100% and 34 receivable days for solar assets.
EnerGrid Update:
During the quarter, EnerGrid won and received the LOIs for two Inter-State Transmission projects. These include the Shongtong–Tidong Transmission Scheme, comprising ~450 ckm of transmission lines and a 400/220 kV, 630 MVA substation, and the Transmission System for evacuation of power from Sunni Dam HEP and Luhri Stage-I HEP, comprising ~104 ckm of transmission lines and 1,050 MVA of substation capacity. Both projects were awarded through the TBCB mechanism, are to be developed on BOOT-basis, and will entail a cumulative capex of ~INR 5,800 crore.
DPU Update:
For the quarter, the Board of the Investment Manager approved a Distribution Per Unit (DPU) guidance of ₹4.12 – in-line with the full year guidance of ₹16.48.
The record date for the distribution is August 17, 2026, and the distribution shall be paid as ₹2.6909 per unit as interest, ₹0.0224 per unit as (taxable) dividend, and ₹1.4067 per unit as capital repayment, in accordance with Section 223 of the Income Tax Act, 2025.
Commenting on the quarter, Harsh Shah, Managing Director of IndiGrid, said, “We delivered a strong financial performance during the quarter, supported by the resilient nature of our portfolio and disciplined asset management. We also continued to build visibility for future growth, with EnerGrid winning two new inter-state transmission projects and taking its identified project pipeline to over ~₹13,500 crore, providing a clear pathway for deployment of its committed investor capital.
India’s peak power demand again crossed 270 GW in July, reinforcing the need to continuously strengthen the country’s power infrastructure. As demand grows and the generation mix evolves, investments in transmission, energy storage and grid flexibility will be critical to building a resilient and sustainable energy system. Through IndiGrid and EnerGrid, we remain focused on contributing meaningfully to this transformation while creating sustainable long-term value for our stakeholders,”