Cube Highways Trust Announces Strong Q1 FY 2024-25 Results
Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., reported robust results for the quarter ended June 30, 2024. The total consolidated income for the period was ₹8,309 million, with a consolidated EBITDA of ₹5,743 million.
The Board of Directors declared a Distribution Per Unit (DPU) of ₹2.00 to ordinary unitholders for Q1 FY 2024-25, totaling ₹2,668.9 million. The record date for the distribution is August 9, 2024, with payment scheduled 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 another quarter of solid performance and consistent returns. The DPU includes ₹1.04 per unit as interest, ₹0.22 per unit as dividend, ₹0.73 per unit as repayment of SPV loan, and ₹0.01 per unit as treasury income. We are confident in maintaining this performance in the upcoming quarters.”
Vinay Sekar, CEO of Cube InvIT, added, "We have been showcasing consistent growth across our road assets. The seamless integration of the recently acquired six HAM assets into our portfolio validates the synergistic capabilities of our teams."
As of June 30, 2024, the Net Debt/Enterprise Value stood at 38%, with the portfolio valuation increasing to a total Asset under Management of ₹287,646 million.