Nexus Select Trust Q4 Results: Net operating income rises 7% YoY to Rs 446.9 crore
Blackstone-backed Nexus Select Trust, India's first listed retail-properties led Real Estate Investment Trust (REIT), has reported Net Operating Income (
NOI
) of Rs 446.9 crore during the quarter ended March, up 7% from a year ago.
The REIT has declared
distribution
of Rs 303 crore for the quarter, taking its cumulative distribution in the financial year 2024-25 to Rs 1,265 crore.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
What are the Biggest RMD Mistakes People Make?
SmartAsset
Learn More
Undo
It has achieved
tenant sales
of Rs 2,900 crore during the fourth quarter with retail portfolio
occupancy
at 97.2%, the REIT said in its earnings release.
Play Video
Play
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
Nexus Select Trust refinanced debt worth Rs 350 crore during the quarter at a debt cost of 7.54% per annum, a saving of 16 basis points. The REIT's debt cost stood at 7.9% with 16% loan to value.
For the financial year 2025-26, it has provided guidance of 15% net operating income and 10% distribution growth including
acquisitions
of Nexus Vega City Mall and MBD Complex.
Live Events
'We witnessed strong financial and operating performance in Q4 FY25 with retail net operating income growth of 8% on-year and tenant sales growth of 6%. Categories like jewellery, beauty and personal care and electronics continue to perform strongly' said Dalip Sehgal, Executive Director and CEO, Nexus Select Trust.
According to him, with a strong balance sheet post two strategic acquisitions, the REIT remains well-positioned to pursue future inorganic growth opportunities.
The REIT has completed two strategic acquisitions in the last three months. It acquired Nexus Vega City mall in Bengaluru in February for a total enterprise value of Rs 913 crore. According to the company, the integration of this property is progressing well and witnessed positive turnaround in tenant sales growth post this acquisition.
It has also completed the acquisition of MBD Complex--consisting of an operational mall and a hotel in Ludhiana--at a total enterprise value of Rs 531 crore including consideration of Rs 490 crore.
Nexus Select Trust's portfolio comprises 19 Grade-A urban consumption centres with a gross leasable area of 10.6 million sq ft spread across 15 Indian cities. It also includes three complementary hotel assets with 450 keys and three office assets with a leasable Area of 1.3 million sq ft.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
33 minutes ago
- Time of India
No more visa fee waivers: Kuwait imposes standard KD150 charge across all sectors
Photo: Pexels In a significant overhaul of its labour market framework, Kuwait has officially ended fee exemptions for work visa transfers, introducing a standard KD150 charge for each work permit issued across a wide range of sectors. The policy change was enacted under Ministerial Resolution No. 4 of 2025, announced on Thursday, June 6, by First Deputy Prime Minister and Interior Minister Sheikh Fahd Al Youssef. The move marks a major shift in Kuwait's approach to labour regulation, aimed at tightening oversight and eliminating preferential treatment for specific industries. Key repeals and new requirements At the core of the change is the repeal of Article 2 of the 2024 resolution, which had previously allowed exemptions from work permit fees for certain sectors, depending on manpower requirements approved by the Public Authority for Manpower. With the exemption lifted, all work permits issued under previously exempted categories will now incur the KD150 fee, assessed on a case-by-case basis. Additionally, Article 5 of the 2024 resolution has been abolished, removing the requirement for the Public Authority for Manpower's Board of Directors to conduct a one-year impact assessment before implementing the fee structure. This eliminates the need for any further formal review or recommendation process. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo These adjustments also modify earlier provisions under Ministerial Resolution No. 3 of 2024, further streamlining the issuance and transfer of work permits and standardising related fees. Sectors now affected by the KD150 fee The newly standardised fee applies to a broad spectrum of public and private sector organisations, including: Government-owned companies Hospitals, clinics, and medical centres licensed by the Ministry of Health Private universities, colleges, and schools Foreign investors accredited by the Investment Promotion Authority Sports clubs and federations Public benefit associations, charities, endowments, labour unions, and cooperative societies Licensed agricultural operations, including hunting, livestock pens, sheep and camel grazing Commercial and investment properties Industrial facilities and small-scale industries Previously, these sectors were exempted from paying additional fees, contingent on staffing needs evaluated by the Public Authority for Manpower. A broader push for labour market standardisation The new fee structure is part of Kuwait's wider effort to unify labour regulations and eliminate inconsistencies across sectors. The KD150 fee will now apply uniformly to each work permit issued or transferred, regardless of sector or employer classification. By scrapping exemptions once granted to entities like hospitals, schools, agricultural operations, and charitable organisations, the government aims to close regulatory loopholes and ensure equal treatment in how foreign labour is managed. The repeal of Article 5, previously mandating a one-year impact study, also signals a move toward faster implementation of reforms without further delay or discretionary reviews, reinforcing a shift to more centralised and uniform oversight.
Time of India
an hour ago
- Time of India
You may be contributing to State Labour Welfare Fund from your salary: What is it, and how it helps employees
Not many employees are aware, but a small portion of their salary may be contributing to the State Labour Welfare Fund . For instance, if you are working for a company in Gurugram, then your company can charge you Rs 34 per month for the contribution towards the State Labour Welfare funds. Similarly, if you are based in Hyderabad, your company can charge Rs 2 per month for contribution towards the State Labour Welfare Fund . For different states, there may be a contribution amount that varies. ET Wealth Online explains what the State Labour Welfare Fund is and how it benefits employees. What is State Labour Welfare Fund? Vaibhav Bhardwaj, Partner at Khaitan & Co - a law firm, says, "The labour welfare fund (LWF) is a statutorily set up fund that is intended to promote the welfare of workers engaged in various specified sectors such as manufacturing, hospitality, construction, textile, transport, and agriculture. How does State Labour Welfare Fund help employees? The Labour Welfare Fund is used to finance activities that promote the welfare of labour in the state. It also helps to utilize unpaid accumulations (such as wages, bonuses, gratuities, etc.) lying with the employer in the best interests of labour. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Hombre (68) entabla relación con cuidadora - Meses después, ella entra en el sótano y le denuncia Crowdy Fan Undo Puneet Gupta, Tax Partner at EY India says, "The Labour Welfare Fund is utilised to cover the expenses of labour by providing various facilities." Some of these facilities provided to employees, as per Gupta, are: (a) Community and social education centres, including reading rooms and libraries; (b) Community necessities; (c) Games and sports; Live Events (d) Excursions, tours, and holiday homes; (e) Entertainment and other forms of recreation; (f) Home industries and subsidiary occupations for women and unemployed persons; (g) Corporate activities of a social nature; (i) Such other objects as would, in the opinion of the state government, improve the standard of living and ameliorate the social conditions of labour. According to Aarti Raote, Partner at Deloitte India, says, "The objective of the State Labour Welfare Fund is to provide financial assistance, improve working conditions and provide medical facilities for the workers. It is supposed to be financial aid." Bhardwaj says, "The amount collected through the LWF is used to provide financial aid, social security, improved working conditions, and higher standards of living for workers. The benefits offered via LWF include educational support, medical care, housing, and recreational facilities for workers and their dependents. The impact of the LWF is significant, especially for low-income workers. By providing vocational training to workers and educational support to their children, the LWF enables skill development, which can allow workers to access better employment opportunities and better educational opportunities for their families in the future. Additionally, by providing workers and their families with medical facilities, housing facilities, access to nutrition, etc, the LWF provides for their long-term well-being and enhances their socio-economic status. The financial assistance available through the LWF also helps ensure workers have a safety net during emergencies, contributing to their financial security." How are contributions to Labour Welfare Fund made? Gupta from EY India, says, "It comprises contributions from employers, employees, and the Government/State Government (in a few states). Unpaid accumulations (such as wages, bonuses, and gratuities) held by the employer are also deposited into the fund. Currently, there is a total of 16 states where state-specific labour welfare laws are applicable, including two Union Territories." "It is governed by the state-specific Labour Welfare Fund Acts and the rules framed thereunder, which inter alia often mandate employers and employees to make periodic contributions to the LWF. However, do note that contribution requirements, applicability, and benefits vary from state to state. In fact, some states such as Rajasthan, Uttarakhand, Jharkhand, etc, do not have a statutorily set up LWF," says Bhardwaj. He adds, "The contribution is determined on a state-specific basis, depending mostly on economic factors (for instance, the cost of implementing welfare schemes, inflation, cost of living adjustments, etc). The State Labour Welfare Boards, at times, pass amendments revising the contribution rates to ensure that the LWF is maintained sustainably and it achieves its purpose. It is common for contributions to be required both on the part of the employer and the employee. In some cases, the State government makes a separate contribution as well." Raote says, "The contribution is made by the employer and the employee. Since this is a state legislation, the contribution may differ from State to State. Some states have not incorporated this legislation, so it's not applied uniformly across India."
Mint
an hour ago
- Mint
Bajaj Finance board fixes record date for 1:2 stock split, 4:1 bonus share issue. Check details here
Bajaj Finance, on June 6, announced the record date for for 1:2 stock split and 4:1 bonus share issue. The NBFC stock closed 5 per cent higher on Friday at ₹ 9,372 apiece. According to the exchange filing, Bajaj Finance has set Monday, June 16 as the record date to determine eligible shareholders for both stock split and bonus share issue. 'We wish to inform you that the Company has fixed Monday, 16 June 2025 as the 'Record Date' for the purpose of determining the members, eligible for the sub-division of existing equity shares and issue of bonus equity shares of the Company,' the company said in the filing. In an another exchange filing dated April 29, the company announced that the board has approved the stock split in the ratio 2:1, which means each existing share with a face value of ₹ 2 will be divided into two fully paid-up equity shares with a face value of ₹ 1 each. 'Sub-division of 1 (one) equity share of face value of Rs. 2 each fully paid-up into 2 (two) equity shares of face value of Re. 1 each fully paid-up,' the company said in the filing. The Bajaj Group company also announced a bonus share issue in a 4:1 ratio. This means eligible shareholders will get 4 bonus equity shares of face value Re 1 each for every 1 fully paid-up equity share they hold, also of face value Re 1. ' Issue of bonus equity shares in the ratio of 4:1 i.e., 4 (Four) bonus equity shares of face value Re. 1 (Rupee One) each for every 1 (one) equity share of face value Re. 1 (Rupee One) each fully paid up,' it added. The company had also announced a final dividend of ₹ 44 per share (2200 per cent) of face value of ₹ 2 each for the financial year 2024-25, with May 30 set as the record date. For the March quarter, the company reported a 19 per cent year-on-year (YoY) surge in its consolidated net profit to ₹ 4,545.6 crore. Net interest income (NII) was slightly below projections, coming in at ₹ 9,807.1 crore compared to the expected ₹ 9,880.9 crore. The company's Assets Under Management (AUM) grew by 26 per cent YoY, reaching ₹ 4.17 lakh crore as of 31 March 2025. An addition of ₹ 18,700 crore during the quarter highlights consistent credit demand. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
