Nexus Select Trust Q2FY25 results: Net operating income rises 5%

The REIT also declared a distribution of Rs 304.1 crore, or Rs 2.01 per unit, to its unitholders

Nexus Select Trust, India’s first listed retail real estate investment trust (REIT), reported an annual increase of 5 per cent in its net operating income (NOI) for the second quarter of the financial year 2025 (Q2 FY25). The REIT’s NOI stood at Rs 371.3 crore.

 

The REIT’s revenue from operations increased by about 4 per cent year-on-year (Y-o-Y) to Rs 554.4 crore. However, its profit for the period declined by 56.2 per cent, to Rs 110.24 crore.

 

The REIT’s earnings before interest, tax, depreciation, and amortisation (Ebitda) for the quarter was Rs 397.2 crore.

 

Further, the REIT declared a distribution of Rs 304.1 crore, or Rs 2.01 per unit, to its unitholders. As per the Securities and Exchange Board of India (Sebi), REITs are mandated to distribute at least 90 per cent of their taxable income.

 

Dalip Sehgal, executive director and chief executive officer at Nexus Select Trust, said, “We witnessed resilient financial performance in Q2 FY25 with retail net operating income growth of 5 per cent Y-o-Y in a moderate consumption environment. On the back of this performance, we are delighted to announce our fifth distribution of Rs 3,041 million, in line with FY25 projections. With a strong start to Q3 FY25, where we witnessed 18 per cent consumption growth in October 2024, we expect robust performance in the second half of FY25. We have also recorded our highest-ever one-day sales on October 27, leading up to Diwali.”

 

Additionally, the REIT achieved tenant sales of Rs 3,000 crore in Q2 FY25, with sales momentum improving significantly in October.