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Business Standard
13-05-2025
- Business
- Business Standard
Nexus Select Trust's Q4 net operating income grows 7% to ₹447 crore
Nexus Select Trust, India's only retail real estate investment trust (REIT), reported a 7 per cent increase in its net operating income (NOI) to ₹446.9 crore for the fourth quarter of the financial year 2025 (Q4FY25). The REIT also declared a distribution of ₹303 crore, or ₹2 per unit, for Q4FY25. For the full year, it cumulatively distributed approximately ₹1,265 crore. As per Securities and Exchange Board of India (Sebi) guidelines, REITs are mandated to distribute at least 90 per cent of their taxable income. In Q4FY25, the REIT achieved tenant sales of ₹2,900 crore, up 6 per cent year-on-year (YoY). Its retail portfolio occupancy stood at 97.2 per cent. During the quarter, the REIT refinanced ₹350 crore at a debt cost of 7.54 per cent per annum. Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said: 'We witnessed strong financial and operating performance in Q4FY25 with retail net operating income growth of 8 per cent YoY and tenant sales growth of 6 per cent YoY. Categories like jewellery, beauty and personal care, and electronics continue to perform strongly. 'On the back of this performance, we are pleased to announce the distribution of ₹303 crore / ₹2 per unit, marking the seventh consecutive quarter of 100 per cent payout. With this distribution, we have cumulatively distributed ₹2,340 crore / ₹15.425 per unit and delivered a total return of over 44 per cent to our unitholders since listing.' Further, the REIT recorded leasing of 0.27 million square feet (msf) in Q4FY25. It also acquired Nexus Vega City during the quarter. The Reit's NOI in FY25 stood at Rs 1,711 crore, while the leasing remained at 1.1 msf. The REIT has more than 10 assets in the acquisition pipeline, across eight Indian states. Additionally, the REIT has guided for a 10 per cent growth in distribution for FY26 and expects retail leasing occupancy to remain around 97 per cent.
Economic Times
13-05-2025
- Business
- Economic Times
Nexus Select Trust Q4 Results: Net operating income rises 7% YoY to Rs 446.9 crore
Nexus Select Trust posted a 7% YoY rise in Q4 NOI to Rs 446.9 crore, with 97.2% occupancy and Rs 2,900 crore in tenant sales. Strategic acquisitions boost outlook for FY26 growth in income and distributions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 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 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 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 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.'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 to him, with a strong balance sheet post two strategic acquisitions, the REIT remains well-positioned to pursue future inorganic growth 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 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 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.
Time of India
13-05-2025
- Business
- Time of India
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.
Time of India
13-05-2025
- Business
- Time of India
Nexus Select Trust fuels expansion with two new acquisitions, reports steady NOI and tenant sales growth
New Delhi: Nexus Select Trust , India's first listed retail real estate investment trust (REIT) , reported a steady performance for the fourth quarter and full year ended March 31, 2025, while accelerating its growth strategy through two strategic acquisitions. The company recorded a net operating income ( NOI ) of Rs 4,469 crore in Q4 FY25, registering a 7 per cent year-on-year growth, and announced a distribution of Rs 2 per unit for the quarter, totaling Rs 12,650 million (Rs 8.35 per unit) for the full year. Tenant sales reached Rs 29 billion, up 6 per cent YoY, as key consumption categories like jewellery, beauty, personal care, and electronics continued to perform strongly. The retail portfolio occupancy stood at 97.2 per cent, with trading occupancy improving by 100 basis points year-on-year to 96.6 per cent. Nexus Select Trust completed two strategic acquisitions in the past three months - Nexus Vega City in South India, which has shown a positive turnaround in tenant sales post-acquisition; MBD Complex in Ludhiana, North India, acquired on May 7, 2025, marking the REIT's entry into a new consumption market. Both acquisitions are expected to be accretive to NOI and distribution per unit (DPU), reinforcing the trust's focus on acquiring high-quality retail assets to expand its footprint. 'We are pleased to have successfully completed two strategic acquisitions. The MBD Complex in Ludhiana opens up a new retail market for us, and Nexus Vega City has already begun showing improvement in tenant sales,' said Dalip Sehgal , Executive Director and CEO, Nexus Select Trust. The trust also refinanced Rs 3,500 million of debt at 7.54 per cent per annum, a savings of 16 basis points. Its overall debt cost stands at 7.9 per cent, with a strong AAA/Stable credit rating and a conservative loan-to-value ratio (LTV) of 16 per cent. FY26 Guidance Nexus Select Trust has guided for a 15 per cent growth in NOI and 10 per cent increase in distributions for FY26, including contributions from its newly acquired assets. The record date for the Q4 FY25 distribution is May 16, 2025, and the distribution is scheduled to be paid on or before May 23, 2025. The trust has now declared seven consecutive quarters of 100 per cent payout, cumulatively distributing Rs 23.4 billion (Rs 15.425 per unit) and delivering a total return of over 44 per cent to unitholders since listing.
Time of India
07-05-2025
- Business
- Time of India
Nexus Select Trust acquires Ludhiana mall, hotel for Rs 490 crore
Listed Real Estate Investment Trust (REIT) Nexus Select Trust has completed the acquisition of MBD Complex , which consists of an operational mall and a hotel in Ludhiana at a total enterprise value of Rs 531 crore including consideration of Rs 490 transaction comprising a 0.3 million sq ft urban consumption centre and a 96-key Radisson Hotel marks the REIT's second post-listing asset and reinforces its inorganic growth enterprise value includes a purchase consideration, associated stamp duty of Rs 10 crore, closing costs and a provision for planned capital expenditure--covering hotel renovations, mall upgrades, etc, the REIT said in a regulatory filing.'With a strong presence already established in Chandigarh and Amritsar, this addition strengthens our portfolio and deepens our roots in a strong consumption-driven market…this acquisition aligns perfectly with our long-term vision to build a resilient, pan-India platform anchored in growth, sustainability, and consumer delight,' said Dalip Sehgal, Executive Director and CEO Nexus Select acquisition is completely financed by maiden issuance of sustainability-linked bonds , he said while adding the property is acquired at a significant discount to independent valuation, the deal is both net asset value and distribution per unit accretive that will help deliver immediate value to Mall's current occupancy rate is around 95%, anchored by a well-diversified tenant base with key international and domestic asset has been acquired at 14% discount to independent valuation and is expected to deliver a stabilized retail net operating income of Rs 37 crore and Rs 12.5 crore hotel operating profit in 2025-26.
