Nexus Select Trust Q3 FY26 Results and Distribution Announcement

Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed retail REIT, has announced its financial performance for the quarter ended December 31, 2025 (Q3 FY26), reporting higher tenant sales, improved operating income and its largest quarterly distribution since listing.

Business highlights – Q3 FY26

Consumption trends: The portfolio recorded its highest-ever quarterly tenant sales of around INR 41 billion, representing a year-on-year increase of 16%, supported by growth across categories such as Beauty & Personal Care, Fashion, Jewellery and Entertainment.
Financial performance: Retail Net Operating Income (NOI) increased 15% year-on-year to INR 4.5 billion.
Distributions: A total distribution of INR 3,586 million (INR 2.367 per unit) was declared, marking the highest quarterly payout since listing and remaining aligned with FY26 guidance.
Leasing strength: Portfolio occupancy stood at 97% for the 11th consecutive quarter since listing.
Debt management: During the quarter, the trust raised a 10-year sustainability-linked bond of INR 7 billion, including a floating-rate tranche of INR 2 billion. The issuance, anchored by the International Finance Corporation (IFC), is expected to result in annual savings of approximately INR 60 million. Following this, the overall cost of debt declined by about 30 basis points to 7.2%.
Balance sheet position: Leverage remained moderate at 18% loan-to-value (LTV), supported by a AAA/Stable credit rating.
Portfolio expansion: The trust completed the acquisition of 60,000 square feet of prime retail space within the Nexus Elante complex, suitable for high-value categories including luxury fashion.
Sustainability recognition: Nexus Select Trust was named “Regional Sector Leader – Retail Asia” by GRESB.

Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said,
“Building on the strong momentum across our portfolio, we delivered another quarter of robust operational and financial performance in Q3 FY26, with tenant sales growing by 16% and retail net operating income increasing by 15%. Reflecting this performance, we are pleased to announce a distribution of INR 3,586 million, equivalent to INR 2.367 per unit, marking our highest quarterly distribution since listing. We remain firmly on track to achieve our FY26 NOI and distribution guidance.

During the quarter, we completed the strategic acquisition of approximately 60,000 square feet of prime retail space across the Ground and First floors at Nexus Elante, further enhancing the mall’s retail positioning. This acquisition enables the activation of a prominent high-street frontage through the monetisation of an underutilised courtyard area, while improving customer circulation and dwell time. We intend to selectively replicate this acquisition-led expansion strategy across our portfolio where similar opportunities exist.

Our recently acquired assets—Nexus Vega City and Nexus MBD Neopolis—continued to demonstrate strong momentum, delivering approximately 15% growth in tenant sales alongside positive footfall trends during Q3 FY26. In line with our strategy to double the portfolio by 2030, we have built a robust acquisition pipeline of 11 assets across India, with four assets currently under due-diligence. Supported by a strong balance sheet, low leverage, and close to USD 1 billion of debt headroom, we are well positioned to execute the next phase of our inorganic growth strategy.”

The Board of Directors of Nexus Select Mall Management Private Limited, the manager to Nexus Select Trust, has fixed February 05, 2026 as the record date for the Q3 FY26 distribution. The payout will be made on or before February 12, 2026.

Investor information

Nexus Select Trust has released its Q3 FY26 earnings presentation and related performance materials, which are available in the Investors section of its website at www.nexusselecttrust.com.

The trust will also host a conference call on Monday, February 02, 2026 at 17:30 IST to discuss the quarterly results. A replay of the call will be made available on the Investors section of the company’s website.