Nexus Select Trust Sees Growth in Retail REIT

Nexus Select Trust, India's first public retail REIT, reported a 7% increase in net operating income to Rs 446.9 crore for the quarter ending March. A dividend distribution of Rs 303 crore was declared, summing up to Rs 1,265 crore for the fiscal year. The portfolio includes 19 shopping malls.

Nexus Select Trust, a leading Real Estate Investment Trust (REIT) focused on retail properties, has announced a notable financial uptick for the March-ending quarter. The REIT, India's pioneering publicly listed retail REIT, revealed a 7% rise in net operating income, now standing at Rs 446.9 crore.

In alignment with these results, Nexus disclosed plans to distribute Rs 303 crore, equivalent to Rs 2 per unit, to unitholders for the fourth quarter of the 2024-25 fiscal. This brings the annual total distribution to a significant Rs 1,265 crore.

The Trust's portfolio diversely spans 19 shopping malls across 15 cities in India, covering a gross leasable area of 10.6 million square feet, alongside three hotel properties and three office spaces, enhancing its appeal to investors.

(With inputs from agencies.)