Cube Highways Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Cube Highways Trust has informed the exchanges about an investor conference call scheduled for February 6, 2026, to discuss Q3 FY26 (quarter ended December 31, 2025) results, along with an investor presentation. Key Q3 FY26 numbers: revenue from operations rose 25% YoY to INR 30,767 Mn for the 9-month period; portfolio traffic grew 9.4% YoY and toll revenue grew 12.1% YoY. Assets Under Management stood at INR 360.93 Bn (up 24% YoY), with AAA credit rating, Net Debt/AUM of 46.86%, and DSCR of 1.8x. The Trust declared a Q3 distribution of INR 4.10 per unit, taking cumulative FYTD26 distribution to INR 10.2 per unit and total cumulative distribution since listing to INR 31.29 per unit. The investor presentation also discloses several forward-looking proposals: (1) conversion of the Trust from a privately listed InvIT to a publicly listed InvIT; (2) change of Sponsor from CH-I and CH-III to Cube Highways and Infrastructure V Pte. Ltd. (CH-V); and (3) proposed acquisition of 4 road assets (BFHL, WMTPL, DTPL from CH-V and CNTL from CH-II) through an equity swap, with combined transaction enterprise value of about INR 68,609 Mn at a 5.9% discount to valuation, which would grow the portfolio from 27 to 31 assets and AUM to about INR 438 Bn.
Short-term: Q3 results are largely positive with healthy traffic, revenue and distribution growth. Medium-term: the proposed Public InvIT conversion could improve liquidity and unitholder base (currently ~415 unitholders), while the proposed acquisition would expand the portfolio and AUM by roughly 20%. All forward-looking proposals (conversion, sponsor change, asset acquisition) require 75% unitholder approval and regulatory clearances, so they remain subject to execution risk.