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Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., announced a Distribution Per Unit (DPU) of Rs 3.95 for the quarter ended June 30, 2026, totaling a distribution of Rs 531 crore, and revised its full-year FY27 DPU guidance to Rs 14.50 per unit from Rs 14.00 previously, citing strong traffic performance; the company reported revenue from operations of Rs 1,127 crore, up 19.3% year-over-year, and a net asset value of Rs 149.6 per unit as of June 30, 2026.

Cube Highways Fund Advisors Private Limited, acting as the investment manager to Cube Highways Trust, reported no deviations in the use of proceeds from a private placement of Rs 6,370,000,000.00 in Senior, Secured, Rated, Listed Redeemable, Non Convertible Debentures raised on June 29, 2026, according to a filing with the BSE Limited on August 14, 2026.

Several entities, including GAEPL, KSPPL, KSIPL, and KTIPL, are facing ongoing disputes with tax authorities related to income tax, goods and services tax (GST), and legacy value-added tax (VAT) matters. A recurring point of contention involves the taxability of “utility shifting work,” which tax authorities are classifying as a “deemed sale” subject to GST, a classification disputed by the companies. Numerous cases have escalated to the GST Tribunal and High Court, with some requiring pre-deposit of disputed tax amounts before appeals can proceed; KSPPL, for example, faces a significant INR 815.02 dispute resulting in a High Court writ petition. While management maintains that these disputes are unlikely to result in material liabilities impacting overall valuation, the ongoing assessments, appeals, and potential for further scrutiny represent contingent liabilities and highlight a level of disagreement with tax authorities.

Cube Highways’ listed non-convertible debentures are adequately secured, according to a recent certificate detailing asset cover. The certificate, referencing Debt Security Trust Deeds dated between June 14, 2023, and June 19, 2026, reveals a Pari Passu Security Cover Ratio of 1.72 times, indicating the value of securing assets is 1.72 times the outstanding debt. The debentures hold a first-ranking pari passu charge on a portion of the issuer’s assets, alongside other lenders, and are also backed by exclusive charges on certain assets. The security package includes pledges of moveable assets, receivables, loans to project special purpose vehicles, bank accounts, bonds, equity shares, and immovable assets, though certain SPVs are excluded. Cube Highways does not have any unsecured listed debentures.

Cube Highways Trust will hold a meeting of the Board of Directors of the Company on 14 August 2026.