Nexus Select Trust's Q3FY26 net operating income rises 15% to ₹450 cr

Nexus Select Trust’s net operating income (NOI) for the third quarter of the financial year 2026 (Q3 FY26) increased 15 per cent year-on-year (YoY) to Rs 450 crore amid high occupancies and contribution from its recently acquired assets.

 

The Mumbai-based real estate investment trust (Reit) reported a leased occupancy of 97 per cent across its assets for Q3 FY26. Its recently acquired assets, Nexus Vega City and Nexus MBD Neopolis, continued to demonstrate strong momentum, delivering around 15 per cent growth in tenant sales alongside positive footfall trends during Q3 FY26, apart from rental income contributions.

 

The Reit also achieved its highest-ever quarterly tenant sales of Rs 4,100 crore, up 16 per cent YoY, driven by robust growth in consumption across categories, including beauty and personal care, fashion, jewellery and entertainment.

 

Nexus has also declared a distribution of Rs 358.6 crore (Rs 2.367 per unit), up 8 per cent YoY, marking its highest quarterly distribution since listing. Nexus has given a 10 per cent growth guidance for distribution in FY26, to Rs 9.1–9.2 per unit. The Reit has guided its NOI in FY26 to grow by 15 per cent. The NOI stood at Rs 1,711 crore in FY25.

 

Dalip Sehgal, executive director and chief executive officer at Nexus Select Trust, said: “We remain firmly on track to achieve our FY26 NOI and distribution guidance. During the quarter, we completed the strategic acquisition of around 60,000 square feet of prime retail space across the Ground and First floors at Nexus Elante, further enhancing the mall’s retail positioning. We intend to selectively replicate this acquisition-led expansion strategy across our portfolio where similar opportunities exist.”

 

Nexus aims to double its portfolio by 2030. The Reit currently has 19 malls in its portfolio. “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 $1 billion of debt headroom, we are well positioned to execute the next phase of our inorganic growth strategy,” Sehgal added.