Nexus Select Trust Reports Strong Q1 FY27 Results with Double-Digit Consumption and NOI Growth
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India’s first listed Retail REIT records 17% consumption growth, announces Diamond Plaza acquisition, and declares ₹2.442 per unit distribution.
Nexus Select Trust (NSE: NXST / BSE: 543913), India's first listed Retail REIT, has announced its financial results for the quarter ended 30 June 2026, reporting double-digit growth in consumption, Net Operating Income (NOI), and Distribution Per Unit (DPU).
Consumption and NOI Register Double-Digit Growth
During the first quarter of FY27, Nexus Select Trust recorded quarterly consumption of ₹3,850 crore, representing a 17% year-on-year (YoY) increase. The growth was broad-based across multiple retail categories.
Net Operating Income (NOI) increased 11% YoY to ₹510 crore, supported by higher consumption and continued leasing momentum across the portfolio.
Distribution Rises 10% Year-on-Year
The Trust declared a distribution of ₹370 crore, equivalent to ₹2.442 per unit, reflecting:
- 10% YoY growth in DPU
- 7% quarter-on-quarter (QoQ) increase
The distribution also marks the 12th consecutive quarter of 100% distribution payout to unitholders.
Since its listing, Nexus Select Trust has distributed more than ₹4,080 crore and delivered an Internal Rate of Return (IRR) of 25% to unitholders.
Leasing Activity Strengthens Portfolio
The REIT re-leased 0.4 million sq. ft. during the quarter, achieving healthy double-digit re-leasing spreads.
Additionally, the company proactively renewed and re-leased 0.2 million sq. ft. ahead of lease expiries at spreads exceeding 20%.
The portfolio also welcomed several new brands making their debut within Nexus Select Trust properties, including:
- Lego
- Kurt Geiger
- Harajuku Bakehouse
These additions are aimed at strengthening the tenant mix and enhancing customer experience.
Balance Sheet Remains Strong
Nexus Select Trust reported a strong financial position with:
- Debt cost: 7.2% (30 basis points lower YoY)
- Credit Rating: AAA/Stable
- Loan-to-Value (LTV): 18%
The Trust also highlighted nearly USD 1 billion of available debt headroom, providing financial flexibility for future acquisitions.
Expansion Strategy Continues
As part of its strategy to double its portfolio by 2030, Nexus Select Trust announced the acquisition of Diamond Plaza Mall in Kolkata, with the transaction expected to close during the first half of FY27.
The company also disclosed that it has built an acquisition pipeline of eight retail assets across India, with two assets currently under due diligence.
Management Commentary
Dalip Sehgal, Executive Director and Chief Executive Officer of Nexus Select Trust, said the Trust delivered robust consumption growth despite global uncertainties, reflecting the resilience of its retail portfolio and operational execution.
He added that strong leasing demand, portfolio enhancements through new brands, disciplined capital management, and a healthy acquisition pipeline position the REIT for continued growth while maintaining consistent returns for unitholders.
Record Date for Distribution
The Board of Directors of Nexus Select Mall Management Private Limited, the Manager to Nexus Select Trust, has fixed 6 August 2026 as the record date for the Q1 FY27 distribution.
The distribution will be paid on or before 13 August 2026.