TVS Infrastructure Trust

What TVS Infrastructure Trust does

TVS Infrastructure Trust is an Indian Infrastructure Investment Trust (InvIT) established in 2025 under the TVS Group, operating as the institutional capital vehicle for the parent company's industrial and logistics real estate business, TVS Industrial & Logistics Parks (TVS ILP). The Trust owns and leases a portfolio of 18 Grade-A industrial and logistics parks spanning 14+ cities in India, with strategic emphasis on emerging Tier 2 and Tier 3 markets and reported portfolio occupancy above 98%. Its underlying technology is the Grade-A industrial and logistics park platform itself — modern warehousing and industrial facilities with multi-modal transport connectivity — rather than a software product.

The Trust generates revenue through recurring lease income from enterprise occupiers across manufacturing, e-commerce, FMCG, automotive, third-party logistics, and pharmaceutical sectors. For FY 2025-26 it reported consolidated total income of ₹18,047.93 Lakhs, EBITDA of ₹13,649.36 Lakhs, and PAT of ₹3,178.54 Lakhs, implying an EBITDA margin of approximately 76%. Capital is accessed through the Indian debt capital markets, with a January 2026 ₹830 crore (Tranche I of a ₹1,100 crore) 20-year Non-Convertible Debenture issuance at a 7.42% coupon, anchored by NaBFID and rated AAA by ICRA. The stated strategic objective is to scale the portfolio to 20 million sq ft, with a ₹250 crore Grade-A park already under development in Visakhapatnam, Andhra Pradesh, facilitated by a partnership with APIIC for land and regulatory approvals.

Name

TVS Infrastructure Trust

Legal name

TVS Infrastructure Trust

Website

https://tvsinfratrust.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

TVS Infrastructure Trust is an Indian InvIT under the TVS Group that owns and leases an 18-park portfolio of Grade-A industrial and logistics facilities across 14+ cities, serving manufacturing, e-commerce, FMCG, automotive, 3PL, and pharmaceutical tenants with 98%+ occupancy.

Ownership category

akta.pro rank

Product category

Industrial and Logistics Real Estate Infrastructure

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Real Estate Dealers (For Their Own Account) (6532), Public Warehousing & Storage (4220)

akta.pro primary industry

Infrastructure & Project Finance Facilities (BPADACAG)

akta.pro secondary industry

Infrastructure & Project Finance Private Debt (FSANADAH)

Keywords

• Industrial real estate
• Logistics parks
• Infrastructure investment trust
• Warehousing leasing
• Built-to-suit facilities

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Lease income from industrial and logistics parks: TVS Infrastructure Trust generates revenue through leasing industrial and logistics warehouse space from its portfolio of 18 parks maintaining over 98% occupancy. The Trust reported consolidated total income of ₹18,047.93 Lakhs, EBITDA of ₹13,649.36 Lakhs, and PAT of ₹3,178.54 Lakhs for FY 2025-26.

Go-to-market motion1 record

Distribution channels1 record

Core offering

TVS Infrastructure Trust owns and operates a portfolio of 18 industrial and logistics parks across more than 14 Indian cities, leasing warehousing and built-to-suit industrial space to enterprise occupiers under a privately placed Infrastructure Investment Trust (InvIT) structure. The trust generates rental and service-fee revenues from its park portfolio (FY25-26 revenue of ₹18,047.93 Lakhs, EBITDA of ₹13,649.36 Lakhs) and funds its capital structure through long-tenor debt including a ₹830 crore 20-year NCD anchored by NaBFID, leveraging the TVS Industrial & Logistics Parks platform for development and asset management.

Product overview

TVS Infrastructure Trust operates as a unified infrastructure investment trust offering industrial and logistics real estate through TVS Industrial & Logistics Parks (TVS ILP). The company's core offering is a portfolio of Grade-A logistics and warehousing facilities spanning 18 parks across 14+ cities in India, with strategic focus on Tier II and Tier III markets. Recent expansion includes a Rs 250 Crore investment in a Visakhapatnam facility with 4 lakh square feet of ready-to-move space. The Trust also raised Rs 830 crore through its NCD programme for portfolio expansion targeting 20 million sq ft.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial and Logistics Park Portfolio Aggregation of 18 owned and operated industrial and logistics parks across more than 14 Indian cities, leased to enterprise occupiers under long-term agreements; reported portfolio occupancy is above 98%, and the portfolio generated FY25-26 revenue of ₹18,047.93 Lakhs and EBITDA of ₹13,649.36 Lakhs.
• Built-to-Suit Industrial and Warehousing Space Customisable industrial and warehousing space developed for enterprise occupiers with specific operational, location, or scale requirements; delivered as a lease-based product under the TVS Infrastructure Trust platform, leveraging TVS ILP's pan-India land bank and development capabilities.
• InvIT Investment Vehicle and Unit Offering Privately placed Infrastructure Investment Trust (InvIT) vehicle through which institutional investors gain exposure to a portfolio of 18 Indian industrial and logistics parks, with the trust's capital structure complemented by long-tenor debt such as the ₹830 crore 20-year NCD anchored by NaBFID.

Quantifiable outcome

• Over 98% occupancy rate maintained across 18-park portfolio
• +2 more outcomes

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• APIIC (Andhra Pradesh Industrial Infrastructure Corporation Ltd.)coreStrategic or Co-development PartnerAPIIC facilitated land acquisition and expedited regulatory approvals for TVS ILP's Grade-A Industrial and Logistics Park in Visakhapatnam, Andhra Pradesh. The land allocation through APIIC enabled the Rs 250 Crores investment in strategic location near Vizag Airport, Railway Station, and Port.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Mahindra Logistics: Indian 3PL and supply-chain operator under the Mahindra Group with adjacent warehousing capability. Comparable end-tenant relationships and Indian logistics ecosystem, but operates as a 3PL rather than as a real-estate owner.
• Allcargo Logistics: India-headquartered integrated logistics and warehousing provider with growing industrial real estate exposure. Comparable in serving 3PL and enterprise logistics demand, though primarily a logistics operator rather than REIT/InvIT.

Broad incumbents

• Brookfield India Real Estate Trust: Listed Indian REIT operating a larger, more diversified portfolio of office, retail, and select industrial assets. Comparable as a real-estate investment vehicle raising institutional capital in India, but with a broader asset mix.
• IRB InvIT Fund: Indian infrastructure investment trust focused on toll-road assets under a pass-through vehicle structure. Comparable InvIT framework, regulatory structure, and bond-market investor base despite a different infrastructure sub-sector.
• Mindspace Business Parks REIT: Listed Indian REIT with Grade A office parks across Mumbai, Hyderabad, and Pune. Comparable InvIT/REIT structure and institutional capital model, though primarily office-focused rather than industrial.

Direct peers

• NDR InvIT: India's first listed warehousing InvIT, providing the closest structural and asset-class peer to TVS Infrastructure Trust. Both operate pooled infrastructure vehicles holding warehousing portfolios leased to enterprise tenants across India.
• IndoSpace (IndoSpace Capital Asia): India's largest developer of Grade A industrial and logistics real estate with a multi-million sq ft portfolio across the country. Direct competitor in the same Grade A logistics parks product category TVS Infrastructure Trust operates in.
• Embassy Industrial Parks: One of India's largest Grade A industrial and logistics park developers with a portfolio comparable in scale and tenant profile to TVS Infrastructure Trust. Operates a similar asset-light, lease-driven model targeting institutional capital.
• Horizon Industrial Parks: India-focused industrial real estate developer backed by Blackstone and other institutional capital. Competes directly for Grade A logistics tenants and development pipeline in similar Indian micro-markets.
• ESR Group (ESR India): Asia-Pacific focused logistics and data centre real estate platform with significant India operations. Competes head-to-head for institutional-grade industrial park tenants and development opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tvs-invit

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TVS Infrastructure Trust