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 FY27, with net operating income up 11% and distribution per unit rising 10%. Robust category performance, strategic leasing, and a strong acquisition pipeline support continued double-digit growth expectations.
Fiscal Year 2026
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Achieved record FY 2026 performance with double-digit consumption and NOI growth, 97% occupancy, and robust leasing spreads. Guidance for FY 2027 targets 9% DPU growth and continued portfolio expansion, supported by a strong acquisition pipeline and low leverage.
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Q3 FY 2026 saw 15% year-on-year NOI growth, record quarterly distribution, and robust double-digit consumption growth across categories. The acquisition pipeline remains strong, with significant debt headroom and continued focus on premiumization and asset turnaround.
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Q2 FY 2026 saw 16% tenant sales and 14% NOI growth, with strong performance from new acquisitions and robust consumption across categories. Distribution guidance and acquisition pipeline remain on track, supported by high occupancy, premiumization, and a strong balance sheet.
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NOI grew 12% year-over-year, with strong performance in South and tier 2 markets, while North India faced temporary disruptions. Distribution per unit rose 4%, and the portfolio remains on track for full-year guidance, supported by robust leasing, refinancing, and a strong acquisition pipeline.
Fiscal Year 2025
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NOI and consumption grew 6% year-over-year in Q3 FY 2025, with leasing occupancy at 97.6% and a 10% increase in distribution per unit. Strong demand from brands, new marketing initiatives, and government stimulus are expected to support further growth.
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Retail NOI grew 5% year-over-year in Q2 FY25, with strong October sales and robust leasing occupancy at 97.4%. The acquisition of Vega City Mall is set to close soon, and guidance remains confident for full-year targets, supported by festive season momentum.
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Retail NOI grew 8% year-over-year in Q1 FY2025, with strong leasing and 97.4% occupancy despite a 2% drop in footfalls. Distribution of INR 3.253 billion aligns with guidance, and a robust five-year growth plan targets doubling NOI through organic and inorganic expansion.