On behalf of the Board of Directors of Investment Manager, it is my
pleasure to present the performance and highlights of Oriental InfraTrust ("the
Trust") for the financial year 2023-24.
Overview
Despite the challenging environment, Trust continued to declare
distributions every quarter and distributed total amount of INR 864.04 crores to its Unit
holders in FY 2023-24 as compared to distribution of Rs. 536.13 crores in FY 2022-23.
Looking Ahead
Trust will continuously endeavor to create value for its Unitholders by
efficiently operating and maintaining its current portfolio of six road assets, consisting
of five toll-road projects and one annuity project, located in the states of Maharashtra,
Madhya Pradesh, Uttar Pradesh and Karnataka. All these roads are NHAI concessions.
The market conditions are expected to witness change in business/
consumer demands and redefined traffic flow due to more complex road network as a result
of construction of many new roads in the country.
FY 2024-25 shall also be challenging due to low increase in toll rates
by virtue of Dec 2023 WPI increasing by only 0.86% as compared to last year. Trust shall
continue to focus on operational efficiency in addition to cost control, efficient
management of funds and ensuring sustainability of its existing business.
Trust will also be looking for additional value creation for its
Unitholders through acquisition of new road assets.
Corporate Governance
The Trust remains committed to maintain high standards of corporate
governance. It pledges to provide timely and accurate information through announcements
and investor relation activities for the benefit of all stakeholders.
Acknowledgement
I express my sincere gratitude to the Board of Directors for their
guidance to the management team. I would also like to thank all my colleagues for their
dedication and hard work. Above all, I am thankful to the Unitholders and Lenders for
their continued trust in us.
| Best Regards, |
| Jitendra Kumar |
| Chief Executive Officer |
| OIT Infrastructure Management Limited |
| (Investment Manager of the Trust) |