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Incorporated in March 2022, Cube Highways Trust is an Indian Infrastructure Investment Trust (InvIT) sponsored by Cube Highways and Infrastructure V Pte. Ltd., established to acquire, own, operate, and manage road and other infrastructure assets across India. The Trust operates a diversified portfolio of highway assets comprising toll and annuity-based projects, generating stable cash flows through long-term concession agreements.
As of March 31, 2026, its portfolio consisted of 27 road assets covering 8,754 lane kilometers across 12 states and one union territory, making it one of India’s leading highway infrastructure InvITs.
The Trust focuses on acquiring mature, cash-generating infrastructure assets while enhancing operational efficiency through advanced asset management, maintenance expertise, and disciplined capital allocation. Backed by the Cube Group, it benefits from strong institutional sponsorship, proven M&A capabilities, and a robust pipeline of committed and right-of-first-offer (ROFO) assets, supporting long-term portfolio expansion and value creation.
Cube Highways Trust is managed by Cube Highways Fund Advisors Private Limited, which oversees investment management, portfolio operations, and strategic growth. As of March 31, 2026, the Trust and its portfolio entities employed over 800 personnel across operations, maintenance, finance, safety, compliance, and project management functions, supported by more than 5,000 contractual staff for on-ground operations.
For the year/period ended (Rs. in Cr.)
| FY26 | FY25 | FY24 | |
|---|---|---|---|
| Total Revenue | 4238.8 | 3307.14 | 2916.13 |
| Profit After Tax | 216.71 | (35.72) | (705.91) |
| EPS | 1.61 | (0.27) | (5.47) |
| EBITDA Margin (%) | 74.20 | 68.91 | 44.53 |
| PAT Margin (%) | 5.11 | (1.08) | (24.2) |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY26 |
Net Profits(Cr.) FY26 |
|---|---|---|---|---|---|---|
| Cube Highways Trust | 20,429* | 152 | 2.12 | 95.88 | 4238.88 | 216.71 |
| Citius Transnet Investment Trust | 6,713 | 110 | – | – | – | (3.15) |
| Raajmarg Infra Investment Trust | 7,017 | 117 | 1.19 | – | – | – |
*Market cap @upper band
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO Rs. 152, the stock is valued at 95.88 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.