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Nexus Select Trust Q2 net operating income rises 8 pc to Rs 504 cr

By Economic Times Markets · Published by Everything Blog

In short

Nexus Select Trust maintained resilient portfolio performance in the second quarter, enabling an 8 percent increase in its total distribution per unit to Rs 2.367. Tenant consumption rose notably during the period despite major festival dates falling largely into the third quarter. Alongside strong payout metrics, the firm announced a strategic development transaction in Guwahati to mark its initial foray into Northeast India.

Key points

Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pu…: Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pushing into the subsequent quarter.
Strategic expansion into Northeast India was initiated via an agreement to develop a Grad…: Strategic expansion into Northeast India was initiated via an agreement to develop a Grade-A mall and hotel in Guwahati.
Portfolio stability is reinforced by complementary non-retail assets comprising three hot…: Portfolio stability is reinforced by complementary non-retail assets comprising three hotels and three office properties.

Sources checked by our analysis pipeline: 1

The company declared distribution of Rs 359 crore in the second quarter of this fiscal, according to a regulatory filing.

"We have delivered a robust 13 per cent year-on-year consumption growth during the quarter despite the festive season shifting largely to Q3 this year," Dalip Sehgal, Executive Director and CEO of Nexus Select Trust, said.

The performance reflects the resilience of the company's portfolio and the strength of operational execution in a challenging environment, he added.

Sehgal said the company has announced a distribution of Rs 359 crore, equivalent to Rs 2.367 per unit, reflecting 8 per cent growth in DPU (distribution per unit).

Cumulatively since listing, the company has distributed more than Rs 4,400 crore to unitholders.

"During the September quarter, we announced our strategic entry into Northeast India through a landmark transaction to develop a Grade-A mall and hotel in Guwahati," Sehgal said.

Nexus Select Trust portfolio comprises 19 Grade-A shopping malls with a Gross Leasable Area of 10.7 million square feet spread across 15 cities in India, three complementary hotel assets (450 keys) and three office assets…

AI Analysis

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Positive

In short

Key Points

Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pu…: Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pushing into the subsequent quarter.
Strategic expansion into Northeast India was initiated via an agreement to develop a Grad…: Strategic expansion into Northeast India was initiated via an agreement to develop a Grade-A mall and hotel in Guwahati.
Portfolio stability is reinforced by complementary non-retail assets comprising three hot…: Portfolio stability is reinforced by complementary non-retail assets comprising three hotels and three office properties.

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AI Analysis

Tone

Positive

In short

Key Points

Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pu…: Tenant retail consumption expanded by 13 percent year-on-year despite holiday spending pushing into the subsequent quarter.
Strategic expansion into Northeast India was initiated via an agreement to develop a Grad…: Strategic expansion into Northeast India was initiated via an agreement to develop a Grade-A mall and hotel in Guwahati.
Portfolio stability is reinforced by complementary non-retail assets comprising three hot…: Portfolio stability is reinforced by complementary non-retail assets comprising three hotels and three office properties.

Topics

Business

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Nexus Select Trust Q2 net operating income rises 8 pc to Rs 504 cr

In short

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