Business EconomyPosted at: May 23 2024 4:32PM


Cube InvIT declares Rs 3.94 DPU for Q4

New Delhi, May 23 (UNI) Cube Highways Trust (Cube InvIT), managed by Cube Highways Fund Advisors Pvt Ltd, on Thursday said that the board of investment manager has approved a distribution per unit (DPU) of Rs 3.94 to ordinary unitholders for January-March quarter (Q4) of financial year 2023-24, amounting to a total distribution amount of Rs 508 crores.
The distribution comprises of Rs 1.79 per unit as interest, Rs 0.20 per unit as dividend, Rs 1.94 per unit as repayment of SPV loan and Rs 0.01 per unit as treasury income.
“With a reported total consolidated income for the year (FY24) at Rs 3,074 crores, consolidated EBITDA at Rs 1,956 crores and annual distribution of Rs 1,302 crores, we have a solid close to the first financial year post listing. FY24 witnessed a toll collection growth of 11.9% and a traffic growth of 6.5%," said Pankaj Vasani, Group CFO of Cube InvIT.
He further said, "Entering 2025, we feel confident in sustaining this momentum."
The investment manager declared a DPU of Rs 10.09 for the FY24 which comprises of Rs 7.10 per unit as interest, Rs 0.99 per unit as dividend, Rs 1.94 per unit as repayment of SPV loan and Rs 0.06 per unit as treasury income.
"The record date for the distribution is May 24, 2024, and the distribution payout will be made on or before June 6, 2024," Cube InvIT said.
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 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.
"Cube InvIT’s portfolio of high-quality infrastructure assets is uniquely structured to deliver high near-term yields along with long-term inflation protected growth for its unitholders. We plan to acquire seven more road assets, subject to requisite regulatory and unitholder approvals, of which six are based on NHAI’s Hybrid Annuity Model where the revenues are not contingent on traffic and hence would contribute to a higher revenue stability and yields," said Vinay Sekar, CEO of Cube InvIT.
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