Half-yearly valuation: enterprise value Rs. 10,040.5 Crore, NAV Rs. 110.12 per unit
Raajmarg Infra Investment Trust has shared the half-yearly valuation report of its assets as at September 30, 2026, prepared by independent valuer RBSA Valuation Advisors LLP.
By ScoutQuest · · 2 min read
- Enterprise Valuation
- Rs. 10,040.5 Crore
- NAV per unit
- Rs. 110.12
- Net assets
- Rs. 6,607.33 Crore
What was shared
Raajmarg Infra Investment Trust has submitted the valuation report for its assets as at the half year ended September 30, 2026. The report is issued by RBSA Valuation Advisors LLP, an independent valuer registered with the Insolvency and Bankruptcy Board of India.
- Enterprise valuation of the assets: Rs. 10,040.5 Crore
- NAV per unit of the Trust: Rs. 110.12
The trust structure
Raajmarg 1 Projects Private Limited is a wholly owned subsidiary and the special purpose vehicle (SPV) of the Trust, set up to operate and maintain the road projects. Raajmarg Infra Investment Managers Private Limited acts as Investment Manager, National Highways InvIT Project Managers Private Limited as Project Manager, National Highways Authority of India (NHAI) as Sponsor, and IDBI Trusteeship Services Limited as Trustee.
The SPV has entered into concession agreements with NHAI for tolling, operation, management, maintenance and transfer of the projects. NHAI monetised five road projects through the InvIT route with effect from 1st April 2026, for a concession fee of INR ~9,583 crores.
The five projects
- Chilakaluripet-Vijayawada (NH-16), total length 69.408 Km, toll plaza at Kaza
- Chennai Bypass (NH-32 and NH-48), total length 32.600 Km, toll plaza at Vanagaram / Tiruneermalai and Surapattu
- Chennai-Tada (NH-16), total length 33.000 Km, toll plaza at Nallur
- Neelmangla-Tumakuru and Tumakuru Bypass (NH-48), total length 44.668 Km, toll plazas at Kulumepalya and Chokkenahalli
- Gorhar-Barwa Adda (NH-19, old NH-2), total length 80.522 Km, toll plaza at Kulgo
The numbers
- Total assets: Rs. 10,329.54 Crore
- Total liabilities: Rs. 3,722.21 Crore
- Net assets (total assets minus total liabilities): Rs. 6,607.33 Crore
- Number of outstanding units: 60
- NAV per unit (net assets divided by outstanding units): Rs. 110.12 per unit
How to read this
NAV per unit is the per-unit value of the Trust's net assets as at September 30, 2026, on the basis of the independent valuation. The enterprise valuation of Rs. 10,040.5 Crore is the value placed on the underlying road assets, while total assets and total liabilities show the balance sheet position used to arrive at net assets.
This is a periodic half-yearly valuation disclosure rather than a fresh transaction announcement. The numbers give investors an updated reference point for the value of the road portfolio that generates the Trust's toll revenue.
Also from Raajmarg Infra Investment Trust
Board approves appointment of Mr. Sanjiv Bhatia as Nominee Director, nominated by Axis Bank
4 Nov 2026
Half-year valuation: enterprise value Rs. 10,040.5 Crore, NAV Rs. 110.12 per unit
4 Nov 2026
Statement of Deviation / Variation shared for the September 2026 quarter, with auditor certificate on public issue proceeds
4 Nov 2026
More numbers
- Enterprise valuation of assetsRs. 10,040.5 Crore
- Total assets10,329.54
- Total liabilities3,722.21
- Net assets6,607.33
- Number of outstanding units60
- NAV per unitRs. 110.12 per unit
- Concession fee for five road projects monetised by NHAI~9,583 crores
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