India · Delayed Price · Currency is INR Nexus Select Trust Earnings Call Transcripts
Fiscal Year 2027
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Tenant sales grew 17% year-on-year in Q1 FY 2027, with NOI up 11% and distribution per unit rising 10%. Premiumization, strategic leasing, and robust acquisition pipeline support continued double-digit growth expectations for the year.
Fiscal Year 2026
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Achieved record FY 2026 results with double-digit consumption and NOI growth, 97% occupancy, and robust category performance. Maintained low leverage, expanded acquisition pipeline, and set conservative FY 2027 guidance amid global uncertainties.
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Q3 FY 2026 saw 15% year-over-year NOI growth, record distributions, and robust leasing demand. Jewellery and fashion segments led category growth, while proactive debt management and acquisitions strengthened the balance sheet. Strong consumption momentum and a healthy acquisition pipeline support positive outlook.
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Q2 FY 2026 saw 16% tenant sales and 14% NOI growth, with robust consumption across categories and strong leasing momentum. Distribution guidance and acquisition targets remain on track, supported by a healthy balance sheet and positive macro trends.
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NOI grew 12% year-over-year, with strong performance in South and tier 2 markets, and robust leasing occupancy at 97.2%. Distribution per unit rose 4%, and the acquisition pipeline remains strong, with further benefits from repo rate cuts expected next quarter.
Fiscal Year 2025
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NOI and consumption grew 6% year-over-year in Q3 FY 2025, with DPU up 10%. Leasing occupancy reached 97.6%, and robust demand from brands continues. Acquisitions are progressing, and government stimulus is expected to further boost consumption.
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Retail NOI grew 5% year-on-year in Q2 FY25, with tenant sales up 2% and strong October momentum (18% sales growth). Occupancy reached 97.4%, and guidance for full-year NOI and NDCF remains intact, with acquisitions and ESG initiatives progressing.
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Retail NOI grew 8% year-over-year in Q1 FY2025, supported by strong re-leasing spreads and non-rental income, despite a 2% drop in footfalls and soft consumption growth. Occupancy reached 97.4%, and the five-year plan targets doubling NOI through organic and inorganic growth.