In a significant move that is set to strengthen the governance and operational efficiency of infrastructure investment trusts in India, Cube Highways Trust has announced the appointment of Cube Highways Asset & Project Advisory Private Limited (CHAPA(P)L) as its new Project Manager, replacing the existing manager Cube Highways and Transportation Assets Advisors Pvt. Ltd. (CHTAAPL). This strategic decision was taken by the Board of Directors of Cube Highways Fund Advisors Private Limited, acting as the Investment Manager of Cube Highways Trust, during their meeting held on February 27, 2026.

The appointment of CHAPA(P)L as the new Project Manager comes after careful consideration of the operational, regulatory, and strategic requirements of the Trust. The change is in accordance with Regulation 23 and other applicable provisions of the SEBI (Infrastructure Investment Trusts) Regulations, 2014, as well as the recent SEBI Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 dated July 11, 2025. The Board's decision aligns with the overarching objectives of the Trust to enhance project management efficiency, compliance adherence, and infrastructure asset performance.

The process also included prior consultation with Axis Trustee Services Limited, which acts as the Trustee of the Trust, ensuring that all regulatory and contractual norms are meticulously followed. Cube Highways Asset & Project Advisory Private Limited will officially take over once the new Project Implementation and Management Agreement (Fresh PIMA) is executed. The transition is also contingent on receiving necessary approvals, including from the National Highways Authority of India (NHAI), to maintain compliance with statutory obligations.

This move is expected to provide enhanced project oversight, streamlined asset management, and operational agility. The new Project Manager, being a wholly owned subsidiary of the Investment Manager, brings the advantage of closely aligned strategic objectives with the Trust, ensuring faster decision-making and dedicated focus on the growth and sustainability of the infrastructure portfolio.

The change marks an important phase in Cube Highways Trust's journey as a leading InvIT in India, focusing on optimizing returns for investors while complying fully with SEBI InvIT regulations. It is also indicative of the Trust's commitment to continuous improvement in governance, transparency, and operational efficiency, which are critical in the management of road and highway assets under the InvIT structure.

The decision by Cube Highways Fund Advisors to incorporate Cube Highways Asset & Project Advisory Private Limited as a wholly owned subsidiary highlights a forward-looking strategy aimed at consolidating expertise, streamlining processes, and reinforcing investor confidence. By integrating project management functions within a dedicated subsidiary, the Trust ensures focused management of operational projects, enhanced monitoring of performance metrics, and better alignment with investor expectations.

Investors and stakeholders of Cube Highways Trust can anticipate several advantages from this change. These include improved operational efficiency, more robust compliance with regulatory frameworks, and proactive project oversight, which together are expected to contribute positively to the overall value of the Trust. The new Project Manager's appointment is also a reflection of the Trust's proactive approach in adapting to evolving regulatory standards and infrastructure development demands in India.

Cube Highways Trust, being a prominent player in India's infrastructure investment sector, continues to leverage its expertise and strategic partnerships to maximize returns for its investors while maintaining transparency and regulatory compliance. The transition to CHAPA(P)L as Project Manager is expected to enhance the execution of existing and future projects, optimize asset performance, and strengthen stakeholder confidence.

With the official appointment expected to take effect post the completion of regulatory approvals and the signing of the Fresh Project Implementation and Management Agreement, Cube Highways Trust reaffirms its commitment to excellence in infrastructure management, adherence to SEBI InvIT regulations, and investor-centric governance practices. This strategic change also sets the stage for the Trust to further expand its portfolio, improve operational efficiencies, and deliver sustainable long-term growth for its stakeholders.

The move underscores a key trend in the InvIT sector in India, where investment managers are increasingly establishing dedicated subsidiaries to handle project and asset management, ensuring better governance, compliance, and operational alignment. For Cube Highways Trust, this step is both progressive and strategic, ensuring that project management is fully aligned with the Trust’s objectives and the expectations of its investors.

In summary, the appointment of Cube Highways Asset & Project Advisory Private Limited as Project Manager is a well-considered strategic decision aimed at enhancing operational excellence, ensuring regulatory compliance, and improving asset performance for Cube Highways Trust. The change not only strengthens the Trust's project management framework but also demonstrates its commitment to investor trust, governance transparency, and long-term growth in the Indian infrastructure investment landscape.

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