Financial Results - REITs or InvITs



General information about REITs or InvITs

Scrip Code 543899
NSE Symbol CUBEINVIT
MSEI Symbol NOTLISTED
ISIN INE0NR623014
Name of Entity CUBE HIGHWAYS TRUST
Class of security - REITs or INVITs InvITs
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 30-10-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 25-10-2025
Description of presentation currency INR
Level of rounding Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment The Trust’s activities comprise of investing in infrastructure assets primarily in the SPVs operating in the road sector to generate cash flows for distribution to unitholders. Based on the guiding principles given in Ind AS - 108 “Operating Segments”, this activity falls within a single operating segment. Further, the entire operations of the Trust are only in India.
Start date and time of board meeting 30-10-2025   19:30:00
End date and time of board meeting 30-10-2025   21:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
NDCF applicability SPVs & Trust
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
(a) Revenue from operations 62,247.80 1,30,238.60
(b) Other income
1 Net gain on sale of mutual funds 447.40 521.00
2 Net gain/(loss) on investments measured at fair value through profit and loss (11.90) 15.50
Total other income 435.50 536.50
Total income 62,683.30 1,30,775.10
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 0.00 0.00
(e) Finance costs 35,336.40 67,001.90
(f) Depreciation, depletion and amortisation expense 0.00 0.00
(g) Other Expenses
1 Legal & professional fees 630.00 830.00
2 Investment Management fees 1,120.00 2,050.00
3 Trustee fees 0.00 0.00
4 Custodian fees 30.00 40.00
5 Insurance expense 20.00 40.00
6 Audit fees 80.00 130.00
7 Valuation expense 30.00 50.00
8 Loss on remeasurement of Contingent Consideration 0.00 240.00
9 Miscellaneous expenses 40.00 80.00
Total other expenses 1,950.00 3,460.00
Total expenses 37,286.40 70,461.90
3 Total profit/(loss) before exceptional items and tax 25,396.90 60,313.20
4 Exceptional items 0.00 0.00
5 Total profit/(loss) before tax 25,396.90 60,313.20
6 Tax expense
7 Current tax 190.40 220.90
8 Deferred tax (4.90) 3.40
9 Total tax expenses 185.50 224.30
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 25,211.40 60,088.90
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 25,211.40 60,088.90
17 Other comprehensive income net of taxes 0.00 0.00
18 Total Comprehensive Income for the period 25,211.40 60,088.90
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of unit capital
Paid-up unit capital 13,440.70 13,440.70
22 Earnings per unit
i Earnings per unit capital for continuing operations
Basic earnings (loss) per unit from continuing operations 1.88 4.47
Diluted earnings (loss) per unit from continuing operations 1.88 4.47
ii Earnings per unit capital for discontinued operations
Basic earnings (loss) per unit from discontinued operations 0 0
Diluted earnings (loss) per unit from discontinued operations 0 0
iii Earnings per unit capital (for continuing and discontinued operations)
Basic earnings (loss) per unit from continuing and discontinued operations 1.88 4.47
Diluted earnings (loss) per unit from continuing and discontinued operations 1.88 4.47
23 Disclosure of notes on financial results Textual Information(1) Textual Information(2)


Disclosure of notes on financial results

Textual Information(1) Note for other expense The total of Other Expenses amounting to 195.32 million has been rounded to the nearest rupee for each line item, resulting in a total of 195 million.


Disclosure of notes on financial results

Textual Information(2) Note for other expense The total of Other Expenses amounting to 346.56 million has been rounded to the nearest rupee for each line item, resulting in a total of 346.00 million.


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 11.50
Capital work-in-progress 0.00
Investment property 0.00
Goodwill 0.00
Other intangible assets 0.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 12,94,266.00
Trade receivables, non-current 0.00
Loans, non-current 16,69,627.80
Other non-current financial assets 25.00
Total non-current financial assets 29,63,918.80
Deferred tax assets (net) 0.00
Other non-current assets 0.00
Total non-current assets 29,63,930.30
2 Current assets
Inventories 0.00
Current financial asset
Current investments 3,918.70
Trade receivables, current 0.00
Cash and cash equivalents 0.00
Bank balance other than cash and cash equivalents 0.00
Loans, current 97,502.70
Other current financial assets 53,209.90
Total current financial assets 1,54,631.30
Current tax assets (net) 8.80
Other current assets 1,388.00
Total current assets 1,56,028.10
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 31,19,958.40
Unit Capital and liabilities
1 Unit Capital
Unit Capital attributable to owners of parent
Unit capital 13,43,960.30
Other equity (14,890.90)
Total equity attributable to owners of parent 13,29,069.40
Non controlling interest
Total Unit Capital 13,29,069.40
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 17,29,134.90
Lease liabilities, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 0.00
Total non-current financial liabilities 17,29,134.90
Provisions, non-current 0.00
Deferred tax liabilities (net) 6.60
Deferred government grants, Non-current 0.00
Other non-current liabilities 0.00
Total non-current liabilities 17,29,141.50
Current liabilities
Current financial liabilities
Borrowings, current 47,503.80
Lease liabilities, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 67.80
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,318.80
Total Trade payable 1,386.60
Other current financial liabilities 12,789.20
Total current financial liabilities 61,679.60
Other current liabilities 64.60
Provisions, current 0.00
Current tax liabilities (Net) 3.30
Deferred government grants, Current 0.00
Total current liabilities 61,747.50
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 17,90,889.00
Total equity and Liabilities 31,19,958.40
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets
Net Segment Asset
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities
Net Segment Liabilities
Disclosure of notes on segments Textual Information(1) Textual Information(2)


Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 0.00 0.00
Disclosure of notes on other comprehensive income Text Block(1) Text Block(2)


Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Standalone
Part I
1 Statement of cash flows
Cash flows from used in operating activities
Profit before tax 60,313.20
2 Adjustments for reconcile profit (loss)
Adjustments for finance costs 67,001.90
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current 0.00
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (106.60)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 0.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 218.20
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (354.20)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 0.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 0.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current (48.80)
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 1,20,586.20
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (521.00)
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 237.60
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (54,159.10)
Net cash flows from (used in) operations 6,154.10
Dividends received (9,652.40)
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 219.30
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (3,717.60)
3 Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 1,01,128.80
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 0.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 4,17,490.60
Cash receipts from repayment of advances and loans made to other parties 2,56,964.80
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 9,652.40
Interest received 1,27,955.40
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 521.00
Net cash flows from (used in) investing activities (1,23,525.80)
4 Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing unit 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares/units 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 5,50,128.70
Repayments of borrowings 2,69,510.40
Payments of lease liabilities 0.00
Dividends paid 83,643.90
Interest paid 67,459.60
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 1,29,514.80
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 2,271.40
5 Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 2,271.40
Cash and cash equivalents cash flow statement at beginning of period 1,652.90
Cash and cash equivalents cash flow statement at end of period 3,924.30



Other inflows (outflows) of cash(operating activities)


Other inflows (outflows) of cash(Investing Activities)


Other inflows (outflows) of cash (Financing Activities)


Disclosure of notes on cash flow statement, indirect Cash and cash equivalents cash flow statement at the end of period shows the difference of 0.56 due to rounding off.


Statement of Net Distributable Cash Flows (NDCF) - SPVs

Amount in (Lakhs)

A Name of Project NA
B Date of start of reporting period 01-07-2025
C Date of end of reporting period 30-09-2025
Sr. Particulars Amount
Cash flow from operating activities as per Cash Flow Statement of HoldCo/ SPV 0.00
1 Add: Cash Flows received from SPV's which represent distributions of NDCF computed as per relevant framework
f Sum of other Cash flows not included above
Details of other Cash flows not included above
0
Total (1)
2 Add: Treasury income / income from investing activities
a Interest income received from FD 0.00
b Tax refund 0.00
c Any other income in the nature of interest 0.00
d Profit on sale of Mutual funds 0.00
e Profit on sale of Investments 0.00
f Profit on sale of Assets 0.00
g Dividend Income 0.00
h Sum of other income not included above 0.00
Details of other income not included above
Total (2) 0.00
3 Add: Proceeds from sale of real estate/ infrastructure investments, real estate/ infrastructure assets or shares of SPVs or Investment Entity adjusted for the following:
a Applicable capital gains and other taxes 0.00
b Related debts settled or due to be settled from sale proceeds 0.00
c Directly attributable transaction costs 0.00
d Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations/ Regulation 18(7) of InvIT Regulations or any other relevant provisions of the REIT/ InvIT Regulations 0.00
e Sum of other sale proceeds not included above 0.00
Details of other sale proceeds not included above
Total (3) 0.00
4 Add: Proceeds from sale of real estate/ infrastructure investments, real estate/ infrastructure assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to reinvest as per Regulation 18(16)(d) of REIT Regulations/ Regulation 18(7) of InvIT Regulations or any other relevant provisions of the REIT/InvIT Regulations, if such proceeds are not intended to be invested subsequently 0.00
5 Less: Finance cost on Borrowings, excluding amortisation of any transaction costs as per Profit and Loss Account and any shareholder debt / loan from Trust 0.00
6 Less: Debt repayment (to include principal repayments as per scheduled EMI�s except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust) 0.00
7 Less: Any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with:
a Loan agreement entered with banks/ financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt 0.00
b Terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos 0.00
c Terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos 0.00
d Agreement pursuant to which the he SPV/ HoldCo/ Trust operates or owns the real estate/ infrastructure asset, or generates revenue or cashflows from such asset 0.00
e Statutory, judicial, regulatory, or governmental stipulations 0.00
f Agreement entered for PPP projects 0.00
g Agreement entered for non-PPP projects 0.00
Total (7) 0.00
8 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years 0.00
Net Distributable Cash Flow for HoldCo/SPV ' s 0.00
Notes:


Statement of Net Distributable Cash Flows (NDCF) - Trust

Amount in (Lakhs)

A Name of Project Cube Highways Trust
B Date of start of reporting period 01-07-2025
C Date of end of reporting period 30-09-2025
Sr. Particulars Amount
Cashflows from operating activities of the Trust (2,350.40)
1 Add: Cash Flows received from SPV's / Investment entities which represent distributions of NDCF computed as per relevant framework
1 Cash flows received from SPV’s/ Investment entities which represent distributions of NDCF computed as per relevant framework 96,492.10
f Sum of other Cash flows not included above
Details of other Cash flows not included above
Cash flows received from SPV’s/ Investment entities which represent distributions of NDCF computed as per relevant framework
Total (1) 96,492.10
2 Add: Treasury income / income from investing activities of the Trust
a Interest income received from FD 0.00
b Tax refund 0.00
c Any other income in the nature of interest 0.00
d Profit on sale of Mutual funds 0.00
e Profit on sale of Investments 0.00
f Profit on sale of Assets 0.00
g Dividend Income 0.00
h Sum of other income not included above 459.30
Details of other income not included above
Total (2) 459.30
3 Add: Proceeds from sale of real estate/ infrastructure investments, real estate/ infrastructure assets or shares of SPVs or Investment Entity adjusted for the following:
a Applicable capital gains and other taxes 0.00
b Related debts settled or due to be settled from sale proceeds 0.00
c Directly attributable transaction costs 0.00
d Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations/ Regulation 18(7) of InvIT Regulations or any other relevant provisions of the REIT/ InvIT Regulations 0.00
e Sum of other sale proceeds not included above 0.00
Details of other sale proceeds not included above
Total (3) 0.00
4 Add: Proceeds from sale of real estate/ infrastructure investments, real estate/ infrastructure assets or sale of shares of SPVs or Investment Entity not distributed pursuant to an earlier plan to reinvest as per Regulation 18(16)(d) of REIT Regulations/ Regulation 18(7) of InvIT Regulations or any other relevant provisions of the REIT/InvIT Regulations, if such proceeds are not intended to be invested subsequently 0.00
5 Less: Finance cost on Borrowings, excluding amortisation of any transaction costs as per Profit and Loss Account and any shareholder debt / loan from Trust 36,485.30
6 Less: Debt repayment (to include principal repayments as per scheduled EMI's except if refinanced through new debt including overdraft facilities and to exclude any debt repayments / debt refinanced through new debt, in any form or equity raise as well as repayment of any shareholder debt / loan from Trust) 15,920.30
7 Less: Any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with:
a Loan agreement entered with banks/ financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt 1,261.60
b Terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos 0.00
c Terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any of its SPVs/ HoldCos 0.00
d Agreement pursuant to which the he SPV/ HoldCo/ Trust operates or owns the real estate/ infrastructure asset, or generates revenue or cashflows from such asset 0.00
e Statutory, judicial, regulatory, or governmental stipulations 0.00
f Agreement entered for PPP projects 0.00
g Agreement entered for non-PPP projects 0.00
Total (7) 1,261.60
8 Less: any capital expenditure on existing assets owned / leased by the SPV or Holdco, to the extent not funded by debt / equity or from reserves created in the earlier years 0.00
Net Distributable Cash Flow at Trust level 40,933.80
Notes:


Statement of Net Assets at Fair Value (NAV)

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone
Sr. Particulars Book Value Fair Value
A Total Assets 31,19,958.40 37,12,970.00
B Total Liabilities 17,90,888.90 17,90,890.00
C Net Assets (A - B) 13,29,069.50 19,22,080.00
D Less: Non-Controlling Interest 0.00 0.00
E Net Assets attributable to unitholders (C-D) 13,29,069.50 19,22,080.00
F No. of Units 1344 1344
G NAV per unit (E/F) 98.89 143.01
Disclosure of notes on net assets at fair value Text Block(1) Text Block(2)


Text Block(1) Fair Value of Total Assets and Total Liabilities and total units is rounded off to nearest rupee.


Text Block(2) Fair Value of Total Assets and Total Liabilities and total units is rounded off to nearest rupee.




Statement of Total Returns at Fair Value

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone
Particulars Amount
1 Total Comprehensive Income (As per the Statement of Profit and loss) 60,083.30
Add/Less: Other Changes in Fair Value not recognized in Total Comprehensive Income
1 Difference in fair value and book value of total assets based on the valuation done by independent valuer appointed by the Trust 1,59,906.10
Total Other Changes in Fair Value not recognized in Total Comprehensive Income 1,59,906.10
Total Return 2,19,989.40
Disclosure of notes on total returns at fair value


Statement of Net Borrowings Ratio

Amount in (Lakhs)

Sr. Particulars Amount
A Borrowings [Refer Notes 1 & 2] 17,99,234.40
B Deferred Payments [Refer Notes 1 & 3] 5,682.50
C Cash and Cash Equivalents [Refer Notes 1 & 3] 75,012.80
D Aggregate Borrowings and Deferred Payments net of Cash and Cash Equivalents (A+B-C) 17,29,904.10
E Value of REIT/InVIT assets [Refer Notes 3 & 4] 36,51,991.80
F Net Borrowings Ratio (D/E) 0.47
Disclosure of notes on net borrowings ratio


Disclosure of notes on net borrowings ratio Borrowing yes; but not disclosed here since these disclosures are required on the basis of consolidated financial statements ; hence given in consolidated template. All borrowing numbers mentioned in details of funds raised are IND AS numbers


Statement of Changes in Unitholders Equity

Amount in (Lakhs)

Particulars 3 months/ 6 months ended(dd-mm-yyyy) Year to date figures for current period ended(dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Balance at the beginning of the current reporting period 13,34,338.90 13,34,338.90
2 Changes in Unit Capital due to prior period errors 0.00 0.00
3 Restated balance at the beginning of the current reporting period 0.00 0.00
4 Changes in Unit Capital due to prior period errors 9,621.40 9,621.40
5 Balance at the end of the current reporting period 13,43,960.30 13,43,960.30
Disclosure of notes on changes in unit capital Textual Information(1) Textual Information(2)


Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone

B(i). Other Equity

Share application money pending allotment Equity component of compound financial instruments Reserves and Surplus Debt instruments through Other Comprehensive Income Equity Instruments through Other Comprehensive Income Effective portion of Cash Flow Hedges Revaluation Surplus Exchange differences on translating the financial statements of a foreign operation Other items of Other Comprehensive Income (specify nature) Money received against share warrants Total
Capital Total Reserve Securities Premium Other Reserves (specify nature) Retained Earnings
1 Balance at the beginning of the current reporting period 0.00 0.00 75,897.80 0.00 0.00 (22,388.20) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 53,509.60
2 Changes in accounting policy or prior period errors 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3 Restated balance at the beginning of the current reporting period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4 Total Comprehensive Income for the current year 0.00 0.00 0.00 0.00 0.00 25,208.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25,208.20
5 Dividends 0.00 0.00 0.00 0.00 0.00 (17,876.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (17,876.40)
6 Transfer to retained earnings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
7 Any other change 0.00 0.00 27,878.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27,878.60
8 Balance at the end of the current reporting period 0.00 0.00 1,03,776.40 0.00 0.00 (15,056.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,720.00
9 Details of any other change (If figures reported in No. 7) Subordinate units extinguishment during the period


Amount in (Lakhs)

Particulars "Year to date figures for current period ended (dd-mm-yyyy)"
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Standalone

B(ii). Other Equity

Share application money pending allotment Equity component of compound financial instruments Reserves and Surplus Debt instruments through Other Comprehensive Income Equity Instruments through Other Comprehensive Income Effective portion of Cash Flow Hedges Revaluation Surplus Exchange differences on translating the financial statements of a foreign operation Other items of Other Comprehensive Income (specify nature) Money received against share warrants Total
Capital Total Reserve Securities Premium Other Reserves (specify nature) Retained Earnings
1 Balance at the beginning of the current reporting period 0.00 0.00 75,897.80 0.00 0.00 (26,704.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 49,193.40
2 Changes in accounting policy or prior period errors 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3 Restated balance at the beginning of the current reporting period 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4 Total Comprehensive Income for the current year 0.00 0.00 0.00 0.00 0.00 60,083.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 60,083.30
5 Dividends 0.00 0.00 0.00 0.00 0.00 (48,435.30) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (48,435.30)
6 Transfer to retained earnings 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
7 Any other change 0.00 0.00 27,878.60 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27,878.60
8 Balance at the end of the current reporting period 0.00 0.00 1,03,776.40 0.00 0.00 (15,056.40) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88,720.00
9 Details of any other change (If figures reported in No. 7) Subordinate units extinguishment during the period


Details of Funds raised through Debt - Consolidated basis

Amount in (Lakhs)

Sr no. Types of Borrowings Opening Outstanding Raised During the period Repaid during the period Closing Outstanding
1 Borrowings from Domestic - Banks/ Financial Institutions (including term loans) 11,90,355.40 2,20,000.00 1,34,166.10 12,76,189.30
2 Non-Convertible Debentures (NCDs) 3,06,171.90 1,97,200.00 2,922.40 5,00,449.50
3 Non-Convertible Preference Shares (NCRPs) 0.00 0.00 0.00 0.00
4 ECBs 0.00 0.00 0.00 0.00
Whether fund raised through debt consolidated other than above? Yes
Commercial Papers 0.00 1,32,928.70 1,32,928.70 0.00


Details of Borrowing / Debt (Raised during the period)

Debt securities (NCDs) Loans / ECB Preference Capital (NCRPS)
Sr no. InvIT / HoldCo / SPVs ISIN Amount raised Coupon Rate Interest payment frequency Secured/unsecured Tenure (in months) Assets on which charge is created, if any Name of the lender Amount Assets on which charge is created, if any Tenure (in months) Name of the lender Amount Assets on which charge is created, if any Tenure (in months)
1 InviT INE0NR607058 55,200.00 7.25 quarterly Secured P36M InvIT Assets Axis Bank HDFC NABFID 1,70,000.00 InvIT Assets P19M NOT APPLICABLE 0.00 NA P0M
2 InviT INE0NR607066 60,000.00 7.30 quarterly Secured P84M InvIT Assets State Bank of india 50,000.00 InvIT Assets P19M NOT APPLICABLE 0.00 NA P0M
3 InviT INE0NR607074 42,000.00 6.93 quarterly Secured P42M InvIT Assets NA 0.00 NA P0M NOT APPLICABLE 0.00 NA P0M
4 InviT INE0NR607082 40,000.00 7.30 quarterly Secured P120M InvIT Assets NA 0.00 NA P0M NOT APPLICABLE 0.00 NA P0M
5 InviT INE0NR614013 1,32,928.70 6.25 quarterly Unsecured P3M NA NA 0.00 NA P0M NOT APPLICABLE 0.00 NA P0M


Disclosures of Ratios

Amount in (Lakhs)

Whether the REITS/INVITS have any outstanding borrowings? No


Details of Capital raised during the period

Amount in (Lakhs)

Sr no. Nature of issue (Right Issue/ Preferential Issue/ Institutional Placement) Date of Board Approval Date of Unitholders Approval Date of Issue Issue Size (Number of Units) Issue Size Issue Price per Unit Date of Allotment of Securities Details of Listing of Securites



Text Block
Details Of Capital Raised During The Period Explanatory



Details of Assets acquired during the reporting period

Amount in (Lakhs)

Sr.No. Nature of the Asset Date of Meeting of Board of the Manager / IM / Unitholders Approval Type of transaction (Outright purchase / Joint Venture / Joint Development / Area Share / Others) Date on which the Asset was acquired Total consideration Name of the Parties from whom the Asset was acquired Whether it is a Related Party Transaction Valuation of the Asset Acquired Remarks
1 SPV 30-01-2025 Outright Purchase 12-06-2025 41,451.30 Niif No 1,18,440.00 Consideration is as per financials and valuation as per June 30, 2025
2 SPV 30-01-2025 Outright Purchase 12-06-2025 60,551.00 Niif No 2,03,960.00 Consideration is as per financials and valuation as per June 30, 2025



Text Block
Details Of Assets Acquired During The Reporting Period Explanatory



Details of Assets disposed off during the reporting period

Amount in (Lakhs)

Sr.No. Nature of the Asset Date of Meeting of Board of the Manager / IM / Unitholders Approval Type of transaction (Outright sale / Joint Venture / Joint Development / Area Share / Others) Date on which the Asset was disposed off Total consideration Name of the Parties to whom the Asset was disposed off Whether it is a Related Party Transaction Valuation of the Asset Acquired Remark Note



Text Block
Details Of Assets DisposedOff During The Reporting Period Explanatory






Details of Distributions made during each quarter of the Financial Year

A Date of start of reporting period 01-07-2025
B Date of end of reporting period 30-09-2025
B Details of Distribution made during the period, if applicable: (Yes/No) Yes
Sr. Particulars
1 Record Date 02-06-2025
2 Date of Board Meeting in which the distribution declared 28-05-2025
3 Total amount of distribution declared Total amount (in Rs. Lakhs) Total Amount Per Unit (in Rs.)
4 Out of the total amount of distribution declared, the amount in the form of interest, less taxes, if any 26,15,51,87,900.00 1.96
5 Out of the total amount of distribution declared, the amount in the form of dividend 4,27,02,34,760.00 0.32
6 Out of the total amount of distribution declared, including amount in the form of amortization of SPV level debt 19,48,29,46,090.00 1.46
7 Out of the total amount of distribution declared, the amount in form of other income 13,34,44,840.00 0.01
8 Due date of the payment of distribution 09-06-2025
9 Date by which payment of distribution is completed 09-06-2025

Details of Distributions made during each quarter of the Financial Year

A Date of start of reporting period 01-07-2025
B Date of end of reporting period 30-09-2025
B Details of Distribution made during the period, if applicable: (Yes/No) Yes
Sr. Particulars
1 Record Date 04-08-2025
2 Date of Board Meeting in which the distribution declared 30-07-2025
3 Total amount of distribution declared Total amount (in Rs. Lakhs) Total Amount Per Unit (in Rs.)
4 Out of the total amount of distribution declared, the amount in the form of interest, less taxes, if any 17,87,61,27,834.60 1.33
5 Out of the total amount of distribution declared, the amount in the form of dividend 0.00 0
6 Out of the total amount of distribution declared, including amount in the form of amortization of SPV level debt 15,72,56,16,215.40 1.17
7 Out of the total amount of distribution declared, the amount in form of other income 0.00 0
8 Due date of the payment of distribution 11-08-2025
9 Date by which payment of distribution is completed 08-08-2025



Capital Structure including Borrowing and Deferred Payments - SPVs/Holdcos

Amount in (Lakhs)

1 Date of start of reporting period 01-07-2025
2 Date of end of reporting period 30-09-2025
A For HoldCos and Directly held SPVs Amount
Name of Holdcos/SVPs CUBE HIGHWAYS TRUST
Category Holdcos
A Shareholders Funds
1 Capital
(1) held by InvITs / REITs directly or indirectly 0.00
(2) held by Other shareholders 13,43,960.30
Name of other shareholder % of Holiding
1 Cube Highways and Infrastructure-III Pte Ltd. 20.81 2,79,632.10
2 BCI IRR India Holdings INC. 18.54 2,49,221.00
3 Cube Mobility Investment Pte. Ltd. 12.84 1,72,583.30
4 Cube Highways and Infrastructure II Pte Ltd. 7.75 1,04,120.40
5 Others 40.06 5,38,403.50
Total Capital 13,43,960.30
2 Other Equity 0.00
3 Reserve & Surplus (14,890.80)
4 Instruments entirely equity in nature 0.00
Total Shareholders Funds 13,29,069.50
B Borrowings
1 Long Term Borrowings 17,29,134.90
2 Current Maturities of Long Term Borrowings 47,503.80
3 Short term borrowings 0.00
4 Deferred Payment Liability 0.00
5 Interest Accrued and due 0.00
6 Interest Accrued but not due 1,637.50
7 Loans from REITs / InvITs or any other inter SPV Borrowings 0.00
Total Net Debt 17,78,276.20
C Total Capitalisation 31,07,345.70
Disclosure of notes for HoldCos and Directly held SPVs Notes :




(B)For SVPs held through HoldCos

Amount in (Lakhs)

1 Date of start of reporting period 01-07-2025
2 Date of end of reporting period 30-09-2025
A For HoldCos and Directly held SPVs Amount
Name of Holdcos not applicable
Name of SVPs 0
A Shareholders Funds
1 Capital
(1) held by InvITs / REITs directly or indirectly 0.00
(2) held by Other shareholders 0.00
Name of other shareholder % of Holiding
1 Not applicable 0.00 0.00
2 Not applicbble 0.00 0.00
3 not applicable 0.00 0.00
4 not applicable 0.00 0.00
5 not applicable 0.00 0.00
Total Capital 0.00
2 Other Equity 0.00
3 Reserve & Surplus 0.00
4 Instruments entirely equity in nature 0.00
Total Shareholders Funds 0.00
B Borrowings
1 Long Term Borrowings 0.00
2 Current Maturities of Long Term Borrowings 0.00
3 Short term borrowings 0.00
4 Deferred Payment Liability 0.00
5 Interest Accrued and due 0.00
6 Interest Accrued but not due 0.00
7 Loans from REITs / InvITs or any other inter SPV Borrowings 0.00
Total Net Debt 0.00
C Total Capitalisation 0.00
Disclosure of notes for SVPs held through HoldCos Notes :