CapitaLand India Trust Q1 total property income up 14% at 4.7 billion rupees
This was due to higher rental income from existing properties and income contributions from the acquisitions it made in 2024, which includes aVance II in Pune and Building Q2 in Navi Mumbai, the manager said in a Q1 business update on Thursday (Apr 24).
Net property income rose 14 per cent on the year to 3.5 billion rupees for the quarter, from 3.1 billion rupees in Q1 2024.
This was due to higher property income, partially offset by an increase in property expenses.
Portfolio occupancy stood at around 90 per cent, while its weighted average lease expiry was 3.4 years as at Mar 31.
Net gearing ratio stood at 39.7 per cent.
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Commenting on the impact of US tariffs, the manager said the tariffs have minimal direct impact on its service-sector tenants, while India's large domestic market is resilient to US demand fluctuations in the short term.
In fact, the impact of US tariffs on the Indian economy could be beneficial in the medium term, it noted.
India's large labour supply and stable politics make it an attractive relocation destination, which could benefit its contract manufacturing tenants, the manager added.
Nevertheless, it expects the global economic uncertainty to slow service industry growth, while leasing demand may be affected by a cautious approach from multinational corporations.
Units of Clint rose S$0.01 or 1.1 per cent to S$0.95 on Thursday, before the release of the results.
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Sign Up Sign Up How the mansion's story is affecting the sales process is a reflection of Astana's evolution as the capital of a newly independent nation, erected to flaunt its energy wealth and as an ode to its ruler. The second-largest former Soviet republic after Russia quickly raced ahead of its neighbours to build central Asia's richest economy, thanks to its energy exports. Nursultan Nazarbayev, who ruled the nation for almost 30 years after independence, envisioned a glimmering city rising dramatically from the Great Dala – the Kazakh steppe – in the middle of the country. In almost every way, it would serve as a contrast to the old capital, Almaty, nestled in the southern mountains near the borders with China and Kyrgyzstan. The location was chosen strategically to expand the central government's footprint in the country's north, where many of the Russian minority live and ties with Moscow are the strongest. 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