Half-yearly valuation: NAV per unit 111.47 on book value, 112.20 on fair value
Anantam Highways Trust submitted its valuation report and NAV for the half year ended September 30, 2026.
By ScoutQuest · · 2 min read
- NAV per unit
- 111.47 (book value) and 112.20 (fair value)
- Net assets attributable to unitholders
- 24,244.18 book, 24,403.61 fair
- Net Debt to AUM
- 42.44% as at March 31, 2026, within the 49% limit
The Investment Manager has submitted the half-yearly valuation report and the Net Asset Value of the trust as on September 30, 2026, based on the report of Mr. S. Sundararaman, the independent valuer. The valuation date is September 30, 2026 and the report is dated October 22, 2026.
What the NAV table shows
- Total Assets: 42,860.21 on book value and 43,019.64 on fair value
- Total Liabilities: 18,616.03 on both bases
- Net Assets (A-B): 24,244.18 on book value and 24,403.61 on fair value
- Less Non-Controlling Interest: 0
- Net Assets attributable to unitholders: 24,244.18 on book value and 24,403.61 on fair value
- Number of Units: 21,75,00,000 on both bases
- NAV per unit (E/F): 111.47 on book value and 112.20 on fair value
What NAV per unit means for a unitholder
- NAV per unit is the trust's net assets attributable to unitholders, divided by the number of units outstanding.
- Book value comes from the accounts; fair value is the independent valuer's estimate of what those net assets are worth.
- Reading the two side by side shows whether the assessed worth of the portfolio is running ahead of, or behind, its accounting value, and the change in that gap over successive half-years is the number worth tracking.
What the trust owns
- 7 HAM (hybrid annuity model) road projects held through seven special purpose vehicles: Bangalore Malur Highways Limited, Dhrol Bhadra Highways Limited, Dodaballapur Hoskote Highways Limited, Viluppuram Highways Limited, Malur Bangarpet Highways Limited, Narenpur Purnea Highways Limited and Repallewada Highways Limited.
- These projects are spread across Gujarat, Tamil Nadu, Bihar, Telangana and Karnataka.
- The units are listed on the National Stock Exchange of India Limited and BSE Limited since October 16, 2025.
Who holds the units as on September 30, 2026
- Sponsor and sponsor group: 8,16,49,861 units, 37.54%
- Mutual Funds: 50,72,436 units, 2.33%
- Insurance Companies: 85,49,527 units, 3.93%
- Foreign Portfolio Investors: 1,20,000 units, 0.06%
- Alternative Investment Fund: 4,65,973 units, 0.21%
- Non-institutional investors: 12,16,42,203 units, 55.93%
- Total outstanding units: 21,75,00,000 units, 100.00%
Borrowing check mentioned in the report
- Net Debt to AUM of the trust as at March 31, 2026 was 42.44%, which the report notes does not exceed the limit of forty-nine percent.
How the valuer frames the numbers
- The valuation is an opinion on the fair enterprise value of the SPVs on a going concern basis; it is based on estimates and on forecasts and projections supplied by the Investment Manager about events that are yet to occur.
- The valuer states that actual future figures may differ from these estimates and may have a significant impact on the valuation of the SPVs.
- The valuation is not investment advice, and the valuer expresses no opinion on the suitability of entering into any financial or other transaction with the trust.
Also from Anantam Highways Trust
Investor presentation for the quarter ended September 30, 2026: distribution of Rs 2.75 per unit
24 Oct 2026
Half-yearly report for the half year ended September 30, 2026: board, committee and unitholder meeting details
23 Oct 2026
Revised notice: earnings conference call for the quarter ended September 30, 2026, with a working link
23 Oct 2026
More numbers
- NAV per unit - book value111.47
- NAV per unit - fair value112.20
- Number of units21,75,00,000
- Net assets attributable to unitholders - book value24,244.18
- Net assets attributable to unitholders - fair value24,403.61
- Total assets - fair value43,019.64
- Total liabilities18,616.03
- Net Debt to AUM as at March 31, 202642.44%
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