Nexus Select Trust reports 15% on-year growth in Q3 Net Operating Income

Retail assets-led Real Estate Investment Trust (REIT) Nexus Select Trust has reported 15% on-year growth in net operating income at Rs 450 crore for the quarter ended December, while maintaining 97% occupancy.

The REIT has declared distribution of Rs 358.6 crore or Rs 2.367 per unit, marking its highest quarterly distribution since listing, on track to achieve its guidance for the current financial year, the company said in its earnings statement.

It has recorded the highest ever quarterly tenant sales of Rs 4,100 crore, up 16% from a year ago. The performance was driven by robust growth across categories including beauty & personal care, fashion, jewellery, and entertainment.


“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%. We remain firmly on track to achieve our FY26 NOI and distribution guidance,” said Dalip Sehgal, Executive Director & CEO, Nexus Select Trust.

In line with the strategy to double the portfolio by 2030, Nexus has 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 said.

During the quarter, the REIT completed acquisition of 60,000 sq ft prime retail space within Nexus Elante Complex.

It also raised a 10-year sustainability-linked bond of Rs 700 crore with a floating rate tranche of Rs 200 crore. The issuance was anchored by International Finance Corporation (IFC)- a member of the World Bank Group. Post this issuance, our overall debt cost reduced by 30 basis points to 7.2%.