Cube Highways Trust

Cube Highways Trust reported a strong Q4 FY26 with revenue from operations of 4,239 croreCurrent reported value: 4,239 crore. No comparable prior figure is available in the source record., up 28% YoYCurrent reported value: 28% YoY. No comparable prior figure is available in the source record., driven by 9.2% traffic growthCurrent 9.2% traffic growth. Reported change: +9.2pp YoY. and full-year outperformance of projected revenue by over 3%. EBITDA rose 30% YoYCurrent reported value: 30% YoY. No comparable prior figure is available in the source record. to 3,092 croreCurrent reported value: 3,092 crore. No comparable prior figure is available in the source record., supported by operational efficiencies and cost savings of 5.4% against budget. Annual distribution per unit reached a record 13.77 rupeesCurrent 13.77 rupees. Reported change: +2.77 rupees YoY., with cumulative distributions of 34.86 rupees since listing. Management guided for FY27 traffic growth of 3% and toll revenue growth of 6.4%, conservatively factoring in geopolitical risks and potential diversions from new expressways. The trust is progressing with a public InvIT IPO (5,000 crore offer for sale) and acquiring four sponsor assets (EV 7,292.5 crore) expected to be NAV-accretive. Key risks include elevated bitumen prices impacting maintenance costs and potential traffic diversion from upcoming corridors like Delhi-Dehradun Expressway.