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The quarterly and annual results for Cube Highways Trust, which concluded on March 31, 2024, have been released. Ordinary unitholders will receive a Distribution Per Unit (“DPU”) of ₹3.94 from the Investment Manager’s Board of Directors, for a total distribution amount of ₹508 crores. This distribution is made up of ₹1.79 for interest, ₹0.20 for dividends, ₹1.94 for loan repayment to the SPV, and ₹0.01 for treasury income per unit.
“With a reported total consolidated income for the year at ₹3,074 crores, consolidated EBITDA at ₹1,956 crores, and annual distribution of ₹1,302 crores, we have a solid close to the first financial year post listing,” said Pankaj Vasani, Group CFO of Cube InvIT. Traffic increased by 6.5% and toll collection increased by 11.9% in FY 24. With a 34 percent Net Debt/Enterprise Value as of March 31, 2024, there is sufficient headroom for expansion. We are optimistic that we can maintain this momentum into 2025.”
The ₹10.09 yearly announced DPU for FY24 is made up of ₹7.10 in interest, ₹0.99 in dividends, ₹1.94 in SPV loan repayment, and ₹0.06 in treasury income per unit.
“Cube InvIT’s unique portfolio of high-quality infrastructure assets is designed to deliver high near-term yields along with long-term inflation protected growth for its unitholders,” stated Vinay Sekar, CEO of Cube InvIT. With the necessary regulatory and unitholder permissions, we intend to purchase seven additional road assets, six of which are based on NHAI’s Hybrid Annuity Model, whose revenues are not reliant on traffic and therefore would increase revenue stability and yields. One of the pillars of our success has been our commitment to our people and culture. We are especially proud of the renowned distinction we have received as a `Great Place to Work,’ which is the result of our persistent commitment. Looking ahead to FY 2025, our goal is still quite clear: to be India’s
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