National Highways Infra Trust
BSE: NHIT · Road Assets/Toll, Annuity, Hybrid-Annuity
Snapshot
Unlock National Highways Infra Trust's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
National Highways Infra Trust (NHIT) is an infrastructure investment trust sponsored by the National Highways Authority of India (NHAI). It manages a portfolio of national highway assets through Special Purpose Vehicles under long-term concession agreements.
Business Model
The Trust generates revenue through the collection of tolls and annuity payments from its portfolio of road assets. Operations and maintenance are managed by a dedicated project manager, ensuring the long-term viability of the highway concessions.
- Enterprise Value:INR 48,371 crore
Management Commentary
The Trust operates under the strategic oversight of the NHAI, which maintains a 100% stake in the project management entity. Management focuses on the efficient maintenance and operation of highway assets to ensure consistent cash flows.
Growth Outlook
Growth is driven by the acquisition of additional national highway assets from the NHAI and the long-term nature of the existing 20-30 year concessions. The Trust benefits from the continuous expansion of India's national highway network.
Key Risks
- Regulatory Risk. Changes in government policy or highway regulations could impact the tolling framework and revenue generation.
- Traffic Volume Risk. Fluctuations in commercial and passenger traffic volumes directly affect the toll revenue collected from the highway assets.
- Operational Risk. Failure to maintain highway assets to the required standards could lead to penalties or loss of concession rights.
- Interest Rate Risk. As an infrastructure trust, NHIT is sensitive to interest rate fluctuations which impact the cost of debt and asset valuations.
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Peers · Road Assets/Toll, Annuity, Hybrid-Annuity
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
National Highways Infra TrustNHIT | ₹36,569 Cr | — | — | — | 81.0% | — | — | — |
Cube HighwaysCUBEINVIT | ₹21,169 Cr | — | — | — | 74.0% | — | — | — |
IRB InvIT FundIRBINVIT | ₹8,271 Cr | 34.70 | — | 20.5% | 83.0% | 5.7% | — | — |
Indus Inf. TrustINDUSINVIT | ₹8,184 Cr | — | — | — | 71.0% | — | — | — |
Roadstar Infra Investment TrustROADSTAR | ₹2,870 Cr | — | — | — | 37.0% | — | — | — |
Anantam HighwaysANANTAM | ₹2,306 Cr | — | — | — | 86.0% | — | — | — |
As of Mar 2026
Financials
National Highways Infra Trust
BSE: NHIT · Road Assets/Toll, Annuity, Hybrid-Annuity
Snapshot
Unlock National Highways Infra Trust's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
National Highways Infra Trust (NHIT) is an infrastructure investment trust sponsored by the National Highways Authority of India (NHAI). It manages a portfolio of national highway assets through Special Purpose Vehicles under long-term concession agreements.
Business Model
The Trust generates revenue through the collection of tolls and annuity payments from its portfolio of road assets. Operations and maintenance are managed by a dedicated project manager, ensuring the long-term viability of the highway concessions.
- Enterprise Value:INR 48,371 crore
Management Commentary
The Trust operates under the strategic oversight of the NHAI, which maintains a 100% stake in the project management entity. Management focuses on the efficient maintenance and operation of highway assets to ensure consistent cash flows.
Growth Outlook
Growth is driven by the acquisition of additional national highway assets from the NHAI and the long-term nature of the existing 20-30 year concessions. The Trust benefits from the continuous expansion of India's national highway network.
Key Risks
- Regulatory Risk. Changes in government policy or highway regulations could impact the tolling framework and revenue generation.
- Traffic Volume Risk. Fluctuations in commercial and passenger traffic volumes directly affect the toll revenue collected from the highway assets.
- Operational Risk. Failure to maintain highway assets to the required standards could lead to penalties or loss of concession rights.
- Interest Rate Risk. As an infrastructure trust, NHIT is sensitive to interest rate fluctuations which impact the cost of debt and asset valuations.
Start your research today
Unlock AI insights, financials, peers and live data on National Highways Infra Trust and 5,000+ companies — free.
Peers · Road Assets/Toll, Annuity, Hybrid-Annuity
As of Mar 2026