IndiGrid, India’s first and largest publicly listed power sector infrastructure investment trust (InvIT), has reported a 29.4% year-on-year increase in reported revenue to ₹1,087 crore for the quarter ended June 30, 2026, compared with ₹840 crore in Q1 FY26. Reported EBITDA rose 28.7% YoY to ₹906 crore, while Net Distributable Cash Flow (NDCF) increased 29.4% to ₹370 crore.
Operational revenue stood at ₹930 crore, up 18.9% YoY, primarily driven by the addition of new projects through acquisitions and the commissioning of under-construction assets during the previous fiscal year. Operational EBITDA increased 23.6% to ₹860 crore, with a margin of 89.1%. As of June 30, 2026, IndiGrid’s Assets Under Management (AUM) stood at ₹34,041 crore, while its net debt-to-AUM ratio was 58.5%.
During the quarter, IndiGrid’s subsidiary EnerGrid won Letters of Intent (LOIs) for two inter-state transmission projects under the Tariff-Based Competitive Bidding (TBCB) mechanism. The projects include the Shongtong–Tidong Transmission Scheme, comprising approximately 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 around 104 ckm of transmission lines and 1,050 MVA of substation capacity. The two projects will be developed on a BOOT basis and involve a combined estimated capital expenditure of approximately ₹5,800 crore.
IndiGrid’s identified project pipeline has increased to more than ₹13,500 crore, providing a pathway for future capital deployment. The company also maintained its Distribution Per Unit (DPU) guidance at ₹4.12 for the quarter, in line with its full-year guidance of ₹16.48.
The record date for the Q1 distribution is August 17, 2026. The distribution will comprise ₹2.6909 per unit as interest, ₹0.0224 per unit as taxable dividend and ₹1.4067 per unit as capital repayment.
Harsh Shah, Managing Director of IndiGrid, said the company’s quarterly performance was supported by the resilience of its portfolio and disciplined asset management. He added that the two new inter-state transmission projects won by EnerGrid strengthen the company’s growth visibility as India’s power demand and requirements for transmission infrastructure continue to increase.
IndiGrid said rising electricity demand and changes in the generation mix are expected to increase the need for investments in transmission, energy storage and grid flexibility, with the company focusing on expanding its infrastructure portfolio and creating long-term value for stakeholders.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
