IRB INVIT TRUST- new game in the town!

97

I did some digging through the September valuation report to figure out the DPU split by asset.

There are only 3 ways an asset can transfer cashflows to the trust:

  1. Return of capital
  2. Interest
  3. Dividend

No asset is giving out a dividend right now. I looked at the cashflows from each asset and compiled them in the following 2 tables.

How to read the table?

  • The table on top gives the actual cashflows (in Rs lakhs) for FY 19 and H1 Sep19. The cashflow is further broken down into interest and return of capital (ROC).
  • The table on the bottom gives the contribution to the total cashflow from each asset.
  • For example, for IDAA the H1 Sep19 figures say interest 7%, RoC 55% and total 20%. This means IDAA contributes 7% of the total interest paid to the trust, 55% of the total capital returned and 20% of the total cashflow.

20 PM
20 PM922×508 61.5 KB

As we can see Bharuch-Surat (IDAA) & Surat Dahisar projects contributed to 38% of the H1 Sep19 cashflows, down from 45% in FY19.

Disclosure: Invested in IRB InvIT. Less than 5% of my portfolio.