Cube Highways Trust Q1 FY25 Results, Announces Distribution Of Rs 2.00 Per Ordinary Unit For The Quarter

Cube Highways Trust (“Cube InvIT”) [BSE/NSE: CUBEINVIT], managed by Cube Highways Fund Advisors Pvt. Ltd. (the “Investment Manager”) has today announced its results for the quarter ended June 30, 2024. The total consolidated income for the period stood at ? 8,309mn, while the consolidated EBITDA for the period was Rs 5,743mn.

The Board of Directors of the Investment Manager has declared a Distribution Per Unit (“DPU”) of  Rs 2.00 to ordinary unitholders for the quarter (Q1) of FY 2024-25, amounting to a total distribution of Rs 2,668.9mn. The record date for the distribution is August 9, 2024, and the distribution payment will be made on or before August 14, 2024.

Pankaj Vasani, Group CFO of Cube InvIT, stated: “The start of FY25 has been encouraging, with our Q1 results demonstrating yet another quarter of solid business performance and consistent returns. The DPU comprises of Rs 1.04 per unit as interest, Rs 0.22 per unit as dividend, Rs 0.73 per unit as repayment of SPV loan and Rs 0.01 per unit as treasury income. We are confident in maintaining this performance in the quarters to come." 

Vinay Sekar, CEO of Cube InvIT, said, "We have been showcasing consistent growth across our road assets, and the seamless integration of the recently acquired six HAM assets into our portfolio is a validation of the synergistic capabilities of our teams.”

As of June 30, 2024, the Net Debt/ Enterprise Value stands at 38 per cent, and the portfolio valuation also increased to a total Asset under Management of Rs  287,646mn.

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; (e) International Financial Corporation, and (f) 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 ended June 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