In a major boost to India’s asset monetisation drive, the National Investment and Infrastructure Fund (NIIF) has transferred two operational road projects worth ₹41.9 billion to Cube Highways Trust (Cube InvIT). The deal marks one of the largest such transactions in 2025, supporting the government’s strategy to recycle assets and fund new infrastructure without increasing fiscal pressure.
The transferred assets—both annuity-based road projects—are fully operational and generate steady revenue streams through fixed government payouts, making them ideal for long-term institutional investors. The projects were previously housed under Athaang Infrastructure, a platform fully owned by NIIF, and have now been formally handed over to Cube InvIT, which is managed by Cube Highways Fund Advisors.
According to officials familiar with the deal, the road projects span critical corridors and are strategically located to serve high-traffic zones, making them attractive from both a commercial and policy standpoint. Industry experts noted that annuity-based projects offer predictable cash flows with minimal demand risk, which makes them well-suited for Infrastructure Investment Trusts (InvITs) that seek stable, long-duration returns.
In a key step under the National Monetisation Pipeline, NIIF’s ₹41.9 billion road asset transfer to Cube InvIT underscores India’s shift toward structured asset recycling. With roads expected to contribute ₹1.6 trillion by FY2025, the deal reflects the maturity of India’s infrastructure financing through InvITs. Cube InvIT, backed by global sovereign and pension funds, is strategically expanding its government-backed road portfolio across the country.
Analysts see this transaction as a catalyst for similar activity across sectors like power, water, and airports. By monetising mature assets, government-linked funds such as NIIF can reduce fiscal stress and redirect capital into new projects. The InvIT model offers transparency, institutional-grade governance, and long-term capital inflows, helping accelerate infrastructure goals under PM Gati Shakti while enhancing investor confidence in India’s infrastructure economy.
This landmark deal reinforces both NIIF’s commitment to value creation and Cube InvIT’s growing leadership in India’s annuity-based transport assets. It paves the way for more efficient, sustainable infrastructure development by balancing government oversight with private sector execution and capital efficiency.
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NIIF Transfers ₹41.9B Roads to Cube InvIT
