Cube Highways Trust Units · NSE:CUBEINVIT
Cube Highways Trust Units — Q1 FY2025 Earnings Presentation
35 slides from Cube Highways Trust Units's earnings presentation, August 2024
Slide 1: Q1 FY 2025 - Investor Presentation Cube Highways Trust
Q1 FY 2025 - INVESTOR PRESENTATION CUBE HIGHWAYS TRUST August 2024
Slide 2: Disclaimer
Disclaimer This presentation is prepared and issued by Cube Highways Fund Advisors Pvt. Ltd. ("CHFAPL") (the “Investment Manager”) on behalf of and in its capacity as the Investment Manager of Cube Highways Trust (“InvIT”) for general information purposes only without regards to specific objectives,
Slide 3: Agenda
Agenda 04 Q1 FY 2025 Updates 10 Corporate Governance & Management Team 15 Annexures 3
Slide 4: Q1 FY 2025 Updates
§@ CUBENIGHWAYS Q1 FY 2025 Updates
Slide 5: Portfolio Snapshot
Portfolio Snapshot As on 30th June 2024 except stated otherwise 25 79% : 21% ASSETS(1) TOLL REV. : ANNUITY REV. (1) 3 (based on FY 24A for 25 SPVs) 15 14 1,940 8,407 17 1 2 16 7 KILOMETERS LANE KILOMETERS 12 13 18 20.3 27 Assets 1. JMTPL, 2. MBEL, AVERAGE RESIDUAL TOLL PLAZAS 3. WUPTPL, 4. NAMEL, CO
Slide 6: Executive Summary
Executive Summary As on 30th June 2024 except stated otherwise: Traffic Growth Toll Revenue Growth Electronic Toll Collection 4.4% YoY 6.2% YoY 96% Distribution Rating DSCR per unit (Q1 FY25) AAA 1.8X 3 INR 2 per CRISIL, ICRA and Indian Ratings and Research Ordinary Unit AUM NAV Growth (since Distri
Slide 7: Revenue & Traffic Performance Snapshot
Revenue & Traffic Performance Snapshot As on 30th June 2024 except stated otherwise Q1 FY 25 vs Q1 FY 24 Asset-wise daily average revenue collection (Q1 FY25 v/s Q1 FY24)... Revenue: 6.2 %1 increase Average Daily Collection (INR Mn)2 1.8% Q1 FY25 74.37 Average daily 19.3% Q1 FY24 70.05 revenue 11.8%
Slide 8: Strong Balance Sheet and Financing
Strong Balance Sheet and Financing Key Metrics As on 30th June 2024 Our Marquee Lenders 8.21% INR 2 (Q1 FY25) 85.9% 38% 1.8x 4.6x Average cost Distribution per Floating rate Net Debt/ AUM 1 DSCR2 Debt/ EBITDA3 of Debt Ordinary unit borrowing (for borrowings at trust level) (at consolidated level) Re
Slide 9: Dividend Distribution - Snapshot
Dividend Distribution - Snapshot (in INR millions) Notes: *The Trust completed the acquisition of 51% equity holding in 6 HAM assets on June 04, 2024. The Trust will be acquiring remaining 49% equity as per the terms of the respective SPA's. Considering the rights available to the Trust under the SP
Slide 10: Corporate Governance & Management Team
Corporate Governance & Management Team 10
Slide 11: Board of Directors
Board of Directors As on 31st July 2024: UPENDRA K SINHA | Independent Director HELLY BHARAT AJMERA | Non-Executive Director • He has served as the chairman of SEBI, UTI Asset Management • She is Director & Head of BCI’s India Investments since January 2023. Company Limited, Association of Mutual Fu
Slide 12: Governance Committees
Governance Committees Audit Nomination & Stakeholders Risk Management Operations Investment Committee Remuneration Committee Relationship Committee Committee Committee Committee Composition Composition Composition Composition Composition Composition Consists of 3 Independent Consists of 3 Independen
Slide 13: Investment in a Team of Specialists
Investment in a Team of Specialists Investment Manager (IM) Team Vinay C Sekar Pankaj Vasani Mridul Gupta Abhijit S Sathe Nilesh Shukla Saurabh Bansal Deepan Shah Saurabh Kumar Chief Executive Officer Group Chief Financial Compliance Officer and SVP – Finance and VP – Finance and VP – Capital Raisin
Slide 14: Investment in a Team of Specialists
Investment in a Team of Specialists Project Manager (PM) Team Dr. Harikishan Bovin Kumar Dr. Bhagwan Raju Rahul Shankar Dr. Mukul Shastry MVS Reddy Dr. Ashok Sharma Ankit Jain Anuj Maitrey Koppula Reddy Chief Executive Officer Chief Operating Chief HR Officer General Counsel Chief Information Chief
Slide 15: Annexures
Annexures Portfolio Details InvIT Structure InvIT Vision & Mission Unit Holders Information Valuation Summary Key Differentiators ESG and Sustainability Strategy 15
Slide 16: Cube InvIT - Asset Portfolio (1/2)
Cube InvIT - Asset Portfolio (1/2) Project JMTPL MBEL WUPTL NDEPL FRHL WVEPL DATRPL TOT32 GAEPL APEL No. of SPVs 1 1 1 1 1 1 1 9 1 1 State Rajasthan Rajasthan Uttar Pradesh Karnataka West Bengal Kerala Uttar Pradesh, Jharkhand, Uttar Pradesh Andhra Haryana Uttar Pradesh, Pradesh, Bihar, Telangana Ta
Slide 17: Cube InvIT - Asset Portfolio (2/2)
Cube InvIT - Asset Portfolio (2/2) Geographic Stretch BWHPL MSHPL MHPL KTIPL KSIPL KSPPL NAMEL No. of asset 1 1 1 1 1 1 1 States Covered Maharashtra Maharashtra Telangana Andhra Pradesh Tamil Nadu Telangana Andhra Pradesh, Telangana Project Length (km) 52.0 kms 55.8 kms 48.96 kms 61.128 kms 38.7 kms
Slide 18: Portfolio's Traffic Composition
Portfolio’s Traffic Composition Vehicle wise share calculated based on total number of tollable vehicles in Q1 FY 25 Traffic Synopsis 3A Truck OSV 2% 0% Q1 Average Daily Traffic Commercial Vehicles: 29% 32,023 PCUs* LCV Bus 4% 6% 2A Truck Passenger vehicles: 71% 7% Electronic Toll on the basis of to
Slide 19: Cube Highways InvIT Structure
Cube Highways InvIT Structure 1 CH-I and CH-III are Sponsors CH-I = Cube Highways and Infrastructure Pte. Ltd., CH-II =Cube Highways and Infrastructure II Pte. Ltd, CH-III = Cube Highways and Infrastructure III Pte. Ltd., CH-IV = Cube Highways and Infrastructure IV Pte. Ltd., CH-ID = Cube Highways a
Slide 20: Cube Vision & Mission
Cube Vision & Mission VISION MISSIONS We are driven by following Missions We aspire to become the most admired organization, To invest in and operate offering a diversified and exceptional, sustainable, sustainable portfolio reliable, safe, and inclusive comprising high quality infrastructure assets
Slide 21: Marquee Investors
Marquee Investors Ordinary Unitholding Pattern As on 30th June 2024 0.47% Foreign Portfolio Investors 1.16% Alternative Investment 0.46% Fund Provident/pension funds 1.94% Insurance Companies 0.22% Individuals 4.71% Non-Institution - Body Corporate 0.03% Non-Resident Indians 6.97% Mutual Funds 24.52
Slide 22: Valuation Summary
Valuation Summary As of 30th June, 2024 for 24 Assets (excludes NAMEL): (INR Mn) Total Particulars Description Enterprise Value 2,87,646 Revenue Assumptions Revenue growth rate of 9.2% for the overall concession life based on Traffic Total Debt 1,29,655 report from Steer (SDG – traffic consultant) A
Slide 23: Key Differentiators
CUBEIGHWAYS Key Differentiators
Slide 24: Irreplicable Portfolio built over the years
Irreplicable Portfolio built over the years Our Expertise Traffic Corridors Presence in nearly all of India’s most attractive and high growth traffic corridors, tracking future growth trends Traffic and toll Asset Technological Project planning Last mile Planning management management innovation and
Slide 25: Thoughtfully Constructed Portfolio
Thoughtfully Constructed Portfolio Geographic Contiguous Traffic Share Diversified No Premium Rich Operating Long Residual Diversification Assets Diversification Commodity Obligation History of Assets Concession Life Boasting a varied collection Our assets are contiguous or Significant share of Expo
Slide 26: Strong Corporate Finance Capabilities
Strong Corporate Finance Capabilities AAA Credit Diversified Expertise Driven Global Transparent Raised funds at Investor Rating Funding Financial Investors Financial Practices Competitive Confidence Management Financing rate Achieved AAA rating from Leverage a diversified Experienced financial We c
Slide 27: Technical Leadership
Technical Leadership Last-mile Construction Technology-Driven Testing Innovative Material Lifecycle Cost Management Excellence Utilization ⁻ Advanced testing techniques: Non- ⁻ Award winning surface mixes ⁻ Strategic Focus: A lifecycle focused ⁻ FRHL and DATRPL: Completed approach to strategic maint
Slide 28: Technology Driven Road Asset Management Systems
Technology Driven Road Asset Management Systems Road-Aid HiRate Build-Aid Data logging, workflow management and A first-of its kind application, developed fully in-house, that Quality control and progress tracking for highway oversight through digitizing highway operations objectively rates and asse
Slide 29: Awards and Achievements
Awards and Achievements ET Now Infra Focus Award 2023 - Most Admired Infrastructure Company Great Place to Cube Highways Work World Record of Felicitated with National Laying 112 lane kms special award M&A Deal of the Highways of Bituminous Year 2023 National Highways Excellence Concrete in 100 Exce
Slide 30: ESG and Sustainability Strategy
ESG and Sustainability Strategy 30
Slide 31: ESG Highlights FY 2024
ESG Highlights FY 2024 25% total women 14 female employees ~127 female toll strength in IM and promoted (IM, PM and collectors ENERGY* EMISSIONS* PM SPV) 17,405 MWh of total 19% of Scope 1+2 emissions energy consumed1 (Scope 1: 2329 tonnes CO eq; Scope 142.9 MWh of captive 2: 11,695 tonnes CO eq) 2
Slide 32: Cube InvIT's Sustainability Strategy
Cube InvIT’s Sustainability Strategy Key Pillars Environmental Responsibility Social Responsibility Governance Key Initiatives ⁻ Efforts on Resource Management efficiency ⁻ Create and nurture safe workplace for ⁻ Adopt and Implement Environment & Social ⁻ Sustainable O&M practices employees and cont
Slide 33: Abbreviations
CUBEIIGHWAYS Abbreviations
Slide 34: Abbreviations
Abbreviations Abbreviations Definition Abbreviations Definition 2A Truck 2 Axle Truck LCV Light Commercial Vehicle 3A Truck 3 Axle Truck LRTPL Lucknow-Raebareli Tollway Private Limited ADIA Abu Dhabi Investment Authority MAV Multi-Axle Vehicle AIIB Asian Infrastructure and Investment Bank MBEL Mahua
Slide 35: Thank you
Thank you Cube Highways Trust Correspondence Address: Unit No. 1901, 19th Floor, Tower-B, World Trade Tower, Plot No. C-1, Sector-16, Noida, U.P-201301, Tel: +91-120-4868300 Email: [email protected] 35
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