What’s new

• First audited results since March 2026 listing cover the period from incorporation to March 2026.
• Standalone profit of ₹1,030.74 lakhs came entirely from interest on loans to a subsidiary.
• Consolidated loss of ₹38.58 lakhs as setup costs exceeded the interest income.

Why it matters

This is a financial pro forma for a trust whose core assets are not yet operational. The standalone profit is an accounting artefact from internal treasury flows, not operational cash. The zero distribution is expected; the investment case begins to be tested from April 2026.

What we’re watching

• First toll revenue once the appointed date passes on April 1.
• The timeline for the first distribution to unit holders.
• Path to consolidated profitability as the toll assets go live.

The full read

Raajmarg Infra Investment Trust's first financials are a placeholder. The standalone profit of ₹1,030.74 lakhs is interest on internal loans. Consolidated, costs exceeded that income, leaving a ₹38.58 lakhs net loss. The NAV per unit is ₹100.72. No distribution was declared. These numbers are backward-looking. They tell you nothing about the trust's core business because that business, toll roads, does not start until April 1, 2026. The results are a clean slate. The real story starts next month.

Primary source: BSE · NSE