Road InvITs AUM to Grow 30% This Fiscal, Led by Asset Monetisation Surge: Report

Road infrastructure investment trusts (InvITs) assets under management will grow 30 per cent in the current fiscal, led by a surge in asset monetisation, rating agency Crisil said on Thursday.

It further said road sector InvITs are poised to see their assets under management (AUM) rise to Rs 3.9 lakh crore by March 2027 from Rs 3 lakh crore as of March 2026.

The growth will be fuelled by monetisation of toll road assets by the National Highways Authority of India (NHAI) and continued traction on the hybrid annuity model (HAM) asset sale by road developers, it added.

According to the rating agency, this will also be accompanied by increased asset diversification in InvIT portfolios across geography and concession types, enhancing their resilience.

Besides, a widening investor pool and controlled leverage will keep credit profiles strong, it said.

The AUM of road InvITs grew over 25 per cent annually in the past two fiscals.

The mix of InvIT AUM is currently dominated by toll road assets, which form 85 per cent.

This is on account of the strength of toll road assets, which provide an opportunity to participate in India’s economic growth through rising traffic, coupled with inflation-indexed toll rate hikes.

Crisil said the toll asset addition will largely come from investors flipping the historically acquired toll assets into InvITs and NHAI’s national monetisation pipeline 2.0.