Cube Highways Trust Reports Strong Q3 Results and DPU

Cube Highways Trust, under the management of Cube Highways Fund Advisors Pvt. Ltd., has revealed robust financial results for the nine-month period ending December 31, 2023. The announcement includes significant figures regarding total consolidated income, EBITDA, and distribution per unit (DPU) for the third quarter of FY 2023-24.

Financial Performance

During the nine-month period, Cube Highways Trust recorded a total consolidated income of Rs 22,714.14mn. The consolidated EBITDA stood at Rs 14,430.50mn, reflecting the Trust’s continued operational excellence and consistent execution.

Distribution Per Unit (DPU)

The Board of Directors of the Investment Manager announced a Distribution Per Unit (DPU) of Rs 2.00 for ordinary unitholders for the third quarter of FY 2023-24. This amounts to a total distribution of Rs 2,580.69mn. Pankaj Vasani, Group CFO of Cube InvIT, explained that the DPU consists of Rs 1.99 per ordinary unit as interest. Additionally, Rs 0.01 per unit contributes to treasury income. The distribution’s record date is February 13, 2024, with payments scheduled on or before February 24, 2024.

Leadership Statements

Vinay Sekar, CEO of Cube InvIT, expressed confidence in the Trust’s ability to provide value to its unitholders. He cited the Trust’s strong operational foundations as the basis for this confidence. He highlighted recent accolades received at the National Highways Excellence Awards, 2022, where three of Cube Highways Trust’s SPVs were recognized for excellence and innovation in the industry.

Portfolio Valuation

As of December 31, 2023, the portfolio valuation surged, reaching a total Asset under Management of Rs 250.24bn. This increase underscores the Trust’s growth trajectory and strategic positioning within the market.

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