Nexus Select Trust has reported an 11% year-on-year rise in retail net operating income (NOI) to Rs 440 crore in the fourth quarter of 2025-26, supported by consumption growth across categories such as fashion, beauty and personal care, jewellery, electronics and entertainment.
India’s maiden listed retail REIT also achieved its 2025-26 distribution per unit (DPU) guidance of Rs 9.1, implying a 9% year-on-year growth, backed by operational and financial performance during the year.
Consumption growth momentum accelerated during the quarter with tenant sales rising 19% year-on-year. The company declared a distribution of Rs 346.3 crore, or Rs 2.286 per unit.
“We delivered another strong quarter of operational and financial performance, with tenant sales growing by 19% and retail net operating income rising by 11%. On the back of this performance, we are pleased to announce a distribution of Rs 346.3 crore, equivalent to Rs 2.286 per unit, marking the 11th consecutive quarter of 100% payout.” said Dalip Sehgal, ED & CEO, Nexus Select Trust
The REIT maintained 97% occupancy for the 12th consecutive quarter since listing and achieved healthy re-leasing spreads on 0.24 million sq ft re-leased during the quarter.
“We have built a robust acquisition pipeline of 8 retail assets across India, two of them are currently under due diligence. With a strong balance sheet, low leverage, and nearly USD 1 billion of debt headroom, we are well positioned to pursue future inorganic growth opportunities,” Sehgal said.
As part of its expansion strategy, the company announced the acquisition of the 244,000 sq ft Grade-A Diamond Plaza mall in Kolkata, strengthening its East India footprint. During the year, it also integrated Vega City and MBD Complex into its portfolio, with both assets recording tenant sales growth of 15% and footfall growth of 9% in FY26.
The REIT said it acquired around 60,000 sq ft of prime retail space in Nexus Elante Complex during the last six months and signed an agreement with Runwal Enterprises for development of a 0.7 million sq ft under-construction Grade-A mall in the Mumbai Metropolitan Region.
The company has guided for FY27 DPU in the range of Rs 9.8-10 per unit, implying a 9% growth. It also said it has built an acquisition pipeline of eight retail assets across India, with two currently under due diligence.
