National Highways Infra Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

National Highways Infra Trust (NHIT) is an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). Registered with SEBI in October 2020, the Trust is designed to monetize operational road assets through a long-term concession model, currently holding a portfolio of operational toll roads across multiple Indian states.

Key Points

Key Facts

• Founded Year: 2020 (Registered with SEBI on October 28, 2020).
• Headquarters: New Delhi, India.
• Sponsor: National Highways Authority of India (NHAI).
• Stock Listing: National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
• Investment Manager: National Highways Infra Investment Managers Private Limited (NHIIMPL).
• Trustee: IDBI Trustee Services Limited.

Operations and Resources

• Asset Portfolio: As of March 2025, NHIT manages a diversified portfolio of 15 operating toll roads covering approximately 1,525 km.
• Geographical Spread: Assets are distributed across 9 states: Assam, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, Uttar Pradesh, and West Bengal.
• Concession Structure: The Trust operates through Special Purpose Vehicles (SPVs) like NHIT Western Projects Private Limited (NWPPL) and NHIT Eastern Projects Private Limited (NEPPL), holding concessions ranging from 20 to 30 years.

Ownership and Market Significance

• Ownership: NHAI (the Sponsor) holds an 11.07% unitholding as of March 2025, with the remaining 88.93% held by various institutional and retail investors.
• Strategic Importance: NHIT serves as a primary vehicle for the Government of India’s National Monetization Pipeline (NMP) in the road sector, allowing for the recycling of capital from operational assets into new infrastructure projects.

Business Model and Revenue

• Business Model: NHIT operates on an "Acquire-Operate-Maintain-Transfer" model. It generates revenue primarily through toll collection on its project stretches. The Trust is mandated to distribute at least 90% of its net cash flows to unitholders.
• Revenue Breakdown: Revenue is primarily derived from toll collections across its various rounds of asset monetization.
  • Round 1 & 2 Assets: 08 Assets managed under NWPPL.
  • Round 3 Assets: 07 Assets managed under NEPPL.
  • Round 4 Assets: Recently monetized in March 2025 with a fundraise of ₹18,400 crore, marking the largest single transaction in the Indian road sector.
• Financial Performance (FY 2024-25):
  • Total Assets (Standalone): ₹465,543 million as of March 31, 2025.
  • Net Asset Value (NAV): ₹133.88 per unit (post-distribution) as of March 2025.
  • Enterprise Value: Approximately ₹28,000 crore (as of March 2024 data, significantly increased following Round 4).

Sustainability and Innovation

• Sustainability: The Trust focuses on Environmental, Health, and Safety (EHS) standards, publishing an annual EHS report. Strategic goals include prioritizing road user safety and community well-being.
• Technological Advancement: Implementation of FASTag for 100% electronic toll collection to reduce congestion and improve revenue leakage control.

Strategic Initiatives and Outlook

• Recent Capital Raises: In January 2025, NHIT successfully listed Zero-Coupon Bonds worth ₹1,000 crore. In March 2024, it raised ₹16,300 crore for Round 3 assets.
• Credit Rating: Maintains a AAA rating from CARE and India Ratings, reflecting a stable financial outlook and low credit risk.
• Future Growth: The Trust continues to evaluate the acquisition of additional operational stretches from NHAI to expand its portfolio and increase distribution yields for investors.

References

1. Annual Report May 2025
2. Annual Report Jul 2024