NDR InvIT Grows AUM by 13.3%, Posts Strong FY25 Results
NDR InvIT Trust, India's pioneering perpetual Warehousing and Industrial Parks InvIT listed on the NSE, has announced strong financial and operational results for Q4 and full fiscal year FY25, highlighting sustained growth and stability in India's logistics infrastructure sector.
The Trust's Assets Under Management (AUM) expanded by 13.32%, reaching approximately 19.22 million sq. ft. by 31 March 2025. This growth was bolstered by geographic expansion from 13 to 15 cities, underlining NDR InvIT's national footprint and market reach.
Operational performance also improved significantly, with warehouse occupancy rising from 95% to 98% and average rentals increasing from INR 17 to INR 18.33/sq. ft./month over the year. The Trust's portfolio now includes 37 industrial parks and over 60 warehouses, with a diversified tenant mix—its top 10 clients contribute only about 33% of rental income, reducing dependency risks. Importantly, only 11.26% of leases are due for renewal in H2 FY26, offering stable revenue visibility.
Financially, the Trust posted a Q4 FY25 revenue of INR 945.38 mn and FY25 revenue of INR 3,241.10 mn. Operating EBITDA came in at INR 823.05 mn for Q4 and INR 2,816.99 mn for FY25. Profit after tax (PAT) stood at INR 331.31 mn in Q4 and INR 1,367.30 mn for the year.
For Q4 FY25, the Trust declared a distribution of INR 712.82 mn—a 5.79% increase over the previous quarter—equating to INR 1.80 per unit, split into INR 0.72 as interest and INR 1.08 as return of capital. The Net Asset Value (NAV) per unit stood at INR 135.52, with a low loan-to-value (LTV) of 15.8%, reflecting sound financial discipline.
Sandeep Jain, CFO of NDR InvIT Trust, commented, 'FY25 was a milestone year with high occupancy, expanding footprint, and increasing returns. We continue to strengthen India's warehousing backbone while delivering consistent value to our stakeholders.'
The record date for the Q4 distribution is set on or before 4 June 2025.
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