Cube Highways Trust Declares Strong H1 Results, Announces Distribution of ₹ 2.00 per Ordinary Unit for the Q2 FY25

National, November 04, 2024 | Cube Highways Trust (“Cube InvIT”) [BSE/NSE: CUBEINVIT], managed by Cube Highways Fund Advisors Pvt. Ltd. (the “Investment Manager”) has announced its results for the half year ended September 30, 2024. The total consolidated income for the period stood at ₹ 16,891mn, while the consolidated EBITDA for the period was ₹ 11,643mn.

The Board of Directors of the Investment Manager has declared a Distribution Per Unit (“DPU”) of ₹ 2.00 to ordinary unitholders for the 2^nd quarter of FY 2024-25, amounting to a total distribution of ₹ 2,668.89mn. The record date for the distribution is November 4, 2024, and the distribution payment will be made on or before November 14, 2024.

Pankaj Vasani, Group CFO of Cube InvIT, stated: “We are excited to announce our sixth consecutive quarter of stellar performance and consistent returns with a continued focus on cost leadership. We are declaring a DPU (in line with the previous quarter) of ₹ 2 per unit, comprising of ₹ 1.27 per unit as interest, ₹ 0.71 per unit as repayment of SPV loan, ₹ 0.01 per unit as dividend and ₹ 0.01 per unit as treasury income.” 

H1 FY25 Revenue & EBITDA grew by 11.5% and 26.8% YoY respectively. Cube InvIT continues to maintain AAA/Stable credit ratings from CRISIL, India Ratings, and ICRA.

As of September 30, 2024, the portfolio valuation has increased to a total Asset Under Management of ₹ 291,623mn.

About Cube Highways Trust

Cube Highways Trust (“Cube InvIT”) is an irrevocable Trust set up under the Indian Trusts Act, 1882 and registered with the Securities Exchange Board of India (SEBI) as an Infrastructure Investment Trust. It is backed by a diversified investor base, including: (a) I Squared Capital; (b) a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA); (c) British Columbia Investment Management Corporation; (d) Abu Dhabi’s sovereign investor Mubadala Investment Company; and (e) Japan Highways International BV. 

Cube Highways Trust is engaged in implementing the public-private partnership (“PPP”) model in the country’s highways sector to operate and manage highway projects in association with the central and state governments.

Investors can view the outcome for the quarter and half year ended September 30, 2024 along with other relevant disclosures on the website of Cube InvIT (www.cubehighwaystrust.com), the BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com).

Media contact: corpcomm@cubehighways.com