AUDITED HISTORICAL METRICS
Performance & Asset Evolution
Multi-year operational and financial trajectory
HAM Highway Lane-Kilometers
Axis (Y): Lane-Kms
Pure-Play Sovereign Annuity: 4,270 lane-kms of 100% operational HAM highway concessions across 8 states with inflation-indexed semi-annual annuity payments from NHAI.
AUDITED FINANCIAL DISCLOSURES
Comprehensive Historical Metrics Matrix
Year-over-year operational, valuation and cash flow KPIs
| Metric | FY24 (Listing) | FY25 | FY26 | 7-Yr Trend / CAGR |
|---|---|---|---|---|
| Highway Lane-Kilometers (Lane-Kms) | 2,850 | 3,620 | 4,270 | +49.8% |
| Audited NAV per Unit (₹) | ₹108.50 | ₹112.40 | ₹116.81 | +7.7% |
| Annual Distribution per Unit (DPU ₹) | ₹11.50 (Annualized) | ₹14.20 | ₹13.50 | ₹27.70 Cumulative |
| Annual Operating Revenue (₹ Cr) | ₹620 | ₹840 | ₹1,139 | +83.7% |
| Gross Asset Value (GAV ₹ Cr) | ₹6,500 | ₹7,850 | ₹9,448 | +45.4% |
| Avg Residual Concession Life (Years) | 12.1 | 11.7 | 11.34 | 11.34 Yrs |
| Major Maintenance (MM) Reserve (₹ Cr) | ₹120 | ₹165 | ₹210 | Fully Funded |
| Loan to Value (LTV %) | 41.5% | 42.8% | 43.5% | 43.5% LTV |
SPONSOR & INSTITUTIONAL GOVERNANCE
Unitholding Pattern
Audited unitholder structure as of June 30, 2026
Sponsor: GR Infraprojects / Indus Infra Management Platform
Sponsor & Promoters15.0%Indus Infra / GR Infraprojects Platform
Foreign Inst. (FII)48.5%Global PE & Sovereign Funds
Domestic Inst. (DII)24.2%Mutual Funds & Insurers
Public & Retail12.3%HNIs & Retail Investors
Sponsor15%
Category Breakdown
Sponsor & Promoter Group15.0%
Foreign Institutional (FII)48.5%
Domestic Institutional (DII)24.2%
Public & Retail Investors12.3%
PHYSICAL ASSET DIRECTORY
Portfolio Assets Breakdown
Key properties, toll corridors, sub-stations & revenue drivers
| Asset / Property Name | Asset Type | Status | Residual Life | GAV Share |
|---|---|---|---|---|
GR Phagwara Expressways Punjab (NH-44) | HAM Annuity | Operational | 15.0 Yrs Concession | 9.5% |
Porbandar - Dwarka Expressway Gujarat (NH-51) | HAM Annuity | Operational | 15.2 Yrs Concession | 11.2% |
Dwarka - Khambhalia Highway Gujarat (NH-51) | HAM Annuity | Operational | 14.8 Yrs Concession | 6.8% |
Akkalkot - Solapur Highway Maharashtra (NH-150E) | HAM Annuity | Operational | 14.5 Yrs Concession | 7.4% |
Sangli - Solapur Package I Maharashtra (NH-166) | HAM Annuity | Operational | 14.0 Yrs Concession | 6.2% |
Sangli - Solapur Package II Maharashtra (NH-166) | HAM Annuity | Operational | 14.0 Yrs Concession | 6.5% |
Rewa - Sidhi Highway Madhya Pradesh (NH-75E) | HAM Annuity | Operational | 14.2 Yrs Concession | 6.9% |
Varanasi - Sangam Highway Uttar Pradesh & Bihar (NH-19 / NH-2) | HAM Annuity | Operational | 15.0 Yrs Concession | 9.8% |
Gundugolanu - Devarapalli Highway Andhra Pradesh (NH-16) | HAM Annuity | Operational | 15.5 Yrs Concession | 7.5% |
Bellary Byepass & Tollway Karnataka (NH-67) | HAM Annuity | Operational | 14.8 Yrs Concession | 5.8% |
Aligarh - Kanpur Package III Uttar Pradesh (NH-91) | HAM Annuity | Operational | 14.5 Yrs Concession | 6.1% |
Munger - Bhagalpur Highway Bihar (NH-80) | HAM Annuity | Operational | 15.0 Yrs Concession | 5.4% |
Thiruvananthapuram Bypass Kerala (NH-66) | HAM Annuity | Operational | 15.2 Yrs Concession | 4.8% |
Madurai - Paramakudi Highway Tamil Nadu (NH-49) | HAM Annuity | Operational | 14.6 Yrs Concession | 6.0% |
Khammam - Devarapalle Package I Telangana & AP (NH-365BB) | HAM Annuity | Operational | 15.8 Yrs Concession | 5.9% |
Khammam - Devarapalle Package II Telangana & AP (NH-365BB) | HAM Annuity | Operational | 15.8 Yrs Concession | 5.6% |