StockWatch
·
Road Assets–Toll, Annuity, Hybrid-Annuity
Regulatory9 Jul 2026, 11:20 pm

Cube Highways Trust: WPI Linking Factor for Toll Revision Reverts to 1.641

AI Summary

Cube Highways Trust has announced a material update regarding the calculation of user fees (tolls) for its Special Purpose Vehicles (SPVs). Following a previous revision by the National Highways Authority of India (NHAI) to a linking factor of 1.561, a subsequent order by the Delhi High Court had kept this revision in abeyance. NHAI has now issued a new policy circular, superseding the earlier one, to reinstate the original linking factor of 1.641. This factor, linking the WPI series of 2004-05 to 2011-12, will continue to be used for revising user fees under all existing contracts, including those of Cube Highways' SPVs, as per a Ministry of Road Transport & Highways (MoRTH) office memorandum dated June 29, 2026. This decision is effective immediately and will apply to all future NH projects until further notice.

Key Highlights

  • NHAI reverts WPI linking factor for toll revision to 1.641.
  • Previous revision to 1.561 is superseded by new policy circular.
  • Original factor applies to all existing and future NH concession agreements.
  • Update impacts user fee computation for Cube Highways' SPVs.
  • MoRTH memorandum dated June 29, 2026, directs the change.