IndiGrid revenue jumps 29% to Rs 206 cr

India Grid Trust (IndiGrid) Monday reported a near 29 percent rise in revenue at Rs 206.1 crore for the June quarter, mainly driven on the back of acquisitions of transmission assets. InvIT is promoted by Sterlite Power Grid Ventures.

The board of Sterlite Investment Managers, acting as investment manager of the trust, has approved a distribution of Rs 3 per unit for the quarter, it said in a statement. "With yet another strong operational and financial performance, we are on track to meet our FY20 distribution guidance of Rs 12 per unit," chief executive Harsh Shah said.

He said the growth plans of the trust have been reaffirmed by the successful closure of the Rs 2,514-crore preferential issue which had participation from several global marquee investors, including KKR and GIC. "On the back of equity capital raise and framework agreement with Sterlite Power, IndiGrid is on track to grow its AUM to Rs 17,000 crore over next two years," Shah added.

Following the recent asset acquisitions--NRSS XXIX Transmission and Odisha Generation Phase II Transmission-- its AUM has increased from Rs 5,220 crore to Rs 10,667 crore. IndiGrid now owns a portfolio of eight power transmission assets with a total network of 18 transmission lines, spannig over 4,900 circuit kms and 7,735 MVA of substations across 11 states..