Nexus Select Trust's Q4 net operating income grows 7% to ₹447 crore

Nexus Select Trust posts strong Q4 with 7% NOI growth and 97.2% occupancy; declares ₹2/unit payout and expects 10% distribution growth in FY26

Nexus Select Trust, India’s only retail real estate investment trust (REIT), reported a 7 per cent increase in its net operating income (NOI) to ₹446.9 crore for the fourth quarter of the financial year 2025 (Q4FY25).

 

The REIT also declared a distribution of ₹303 crore, or ₹2 per unit, for Q4FY25. For the full year, it cumulatively distributed approximately ₹1,265 crore.

 

As per Securities and Exchange Board of India (Sebi) guidelines, REITs are mandated to distribute at least 90 per cent of their taxable income.

 

In Q4FY25, the REIT achieved tenant sales of ₹2,900 crore, up 6 per cent year-on-year (YoY). Its retail portfolio occupancy stood at 97.2 per cent.

 

During the quarter, the REIT refinanced ₹350 crore at a debt cost of 7.54 per cent per annum.

 

Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said: “We witnessed strong financial and operating performance in Q4FY25 with retail net operating income growth of 8 per cent YoY and tenant sales growth of 6 per cent YoY. Categories like jewellery, beauty and personal care, and electronics continue to perform strongly.

 

“On the back of this performance, we are pleased to announce the distribution of ₹303 crore / ₹2 per unit, marking the seventh consecutive quarter of 100 per cent payout. With this distribution, we have cumulatively distributed ₹2,340 crore / ₹15.425 per unit and delivered a total return of over 44 per cent to our unitholders since listing.”

 

Further, the REIT recorded leasing of 0.27 million square feet (msf) in Q4FY25. It also acquired Nexus Vega City during the quarter. 

The Reit's NOI in FY25 stood at Rs 1,711 crore, while the leasing remained at 1.1 msf. 

 

The REIT has more than 10 assets in the acquisition pipeline, across eight Indian states.

 

Additionally, the REIT has guided for a 10 per cent growth in distribution for FY26 and expects retail leasing occupancy to remain around 97 per cent.