On track to achieve FY18 DPU guidance of Rs 11/unit: IndiGrid

The recently listed infrastructure investment trust India Grid Trust reported second quarter numbers and the company is on track to meet its guidance.

Pratik Agarwal, CEO, India Grid Trust in an interview to CNBC-Tv18 share further details about the performance and the outlook for the company going forward.

He said this was the first full reported quarter because they listed in April.

The consolidated revenues for the company at Rs 132 crore on back of high asset availability and consolidated EBITDA was at Rs 122 crore. The net distributable cash flow was Rs 101 crore and distribution per unit (DPU) came in at Rs 2.75 per unit.

Agarwal said they were on track to deliver FY18 DPU guidance of Rs 11 per unit. He said they could do even better but are not revising the guidance as of now.

The acquisitions done so far will result in 4 percent increase in distribution, so Rs 11 per unit this year would be at least 11.44 per unit next year FY19.

He said IndiGrid did its IPO with two assets and a right of first offer (ROFO) on eight more assets belonging to sponsors. Out of this 8 assets, 3 have been qualified to be dropped into IndiGrid and hope to consummate the transaction by Q4FY18.

The funding for the three assets would be 100 percent via debt, said Agarwal.

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