Nexus Select Trust’s Q2 NOI rises 8% to Rs 504 cr, consumption up 13%

Nexus Select Trust, India’s first listed retail real estate investment trust (REIT), has reported an 8% year-on-year increase in net operating income (NOI) to Rs 504 crore in the second quarter of 2026-27. Consumption at its retail assets stood at Rs 3,909 crore, up 13% from a year earlier.

The growth was recorded across categories, although the festive season shifted largely to the third quarter this year, the company said.

The REIT declared a distribution of Rs 359 crore, or Rs 2.367 per unit, an increase of 8% year-on-year. It has maintained a 100% distribution payout to unitholders for 13 consecutive quarters.


“This performance reflects the resilience of our portfolio and the strength of our operational execution in a challenging environment,” said Dalip Sehgal, Executive Director & CEO, Nexus Select Trust.

During the quarter, the company re-leased 0.5 million sq ft of space at spreads of 25%. Its loan-to-value ratio stood at 18%, while its cost of debt was 7.2%, down 30 basis points from a year earlier.

“With our ambition to double our portfolio by 2030, we have built a robust acquisition pipeline comprising six retail assets across India, with two currently under due diligence,” said Siddharth Nawal, MD & CEO-Designate, Nexus Select Trust.

According to him, backed by a strong balance sheet, low leverage and nearly $1 billion in available debt headroom, the company is well positioned to capitalise on attractive inorganic growth opportunities and continue scaling our platform.

During the quarter, Nexus Select Trust forayed into Northeast India through a transaction to develop a Grade-A mall and hotel in Guwahati. The project is part of its plan to expand into consumption markets in eastern and northeastern India.