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The Quarter story
The two most recent quarterly results, compared side-by-side.
Steady distributions and network expansion drive growth, while seasonal cash flows and portfolio shifts warrant attention.
Cumulative Distribution grew from ₹34,632 Cr to ₹54,079 Cr from Q1 FY26 to Q1 FY27 — ensuring consistent investor payouts
Net Distributable Cashflow surged from ₹3,908 Cr to ₹13,692 Cr in Q3 FY26, then dropped to ₹4,976 Cr in Q1 FY27 — highlighting seasonal liquidity swings
Lane Kilometers expanded from 8,300 to 8,428 from Q1 FY26 to Q1 FY27 — strengthening the operational footprint
AUM Mix fell from 69% to 40% from Q1 FY26 to Q1 FY27 — signaling a strategic rebalancing of asset allocations
EBITDA Margin climbed from 88% to 89% from Q1 FY26 to Q1 FY27 — confirming strong cost efficiency
Residual Concession Life declined from 14.5 years to 13 years from Q1 FY26 to Q1 FY27 — reflecting natural asset aging
DSCR held steady from 3.2x to 3.0x from Q1 FY26 to Q3 FY26 — maintaining robust debt servicing capacity
Floating Rate Borrowing ticked up from 71% to 72% from Q1 FY26 to Q1 FY27 — increasing sensitivity to interest rate changes
Annuity Income grew from ₹3,130 Cr to ₹4,355 Cr from Q1 FY26 to Q1 FY27 — stabilizing core cash inflows
Toll Revenue jumped from ₹11,901 Cr to ₹18,348 Cr in Q3 FY26, then fell to ₹7,101 Cr in Q1 FY27 — showing strong seasonal cycles