Cube Highways Trust (Cube InvIT) on Wednesday (November 15) declared a distribution per unit (DPU) of ₹2.00 to ordinary unitholders for the second quarter of FY2023–24.

The company's total consolidated income for the half-year stood at ₹1,515.166 crore, while the consolidated EBITDA for the period was ₹918.249 crore.

The InvIT had issued 129,03,46,112 ordinary units, and consequently, a total amount of ₹258.06 crore will be distributed to the ordinary unitholders.

Pankaj Vasani, Group CFO of Cube InvIT, said the DPU comprises ₹1.98 per ordinary unit as interest and ₹0.02 per unit as treasury income. The record date for the distribution is November 16, 2023, and the distribution payment will be made on or before November 28, 2023."

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As of September 30, 2023, the portfolio valuation also increased to a total asset under management (AUM) of ₹24,444 crore.

Vinay Sekar, CEO of Cube InvIT, said the company reported robust traffic and operational performance for the half year, and consequently, the NAV of ordinary units, including achievable reclassified Subordinate Units—a distinctive and unique capital structure of Cube InvIT—has increased by 15.5% to ₹115.51/unit."

Cube Highways Trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These road assets are located across 11 states in India.

The 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.

It is backed by a diversified investor base, including I Squared Capital, a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, Abu Dhabi's sovereign investor Mubadala Investment Company, and Japan Highways International BV.

(Edited by : Ajay Vaishnav)