Tag: Nexus Select Trust

Mumbai, October 25, 2024.The first pure-play Retail Real Estate Investment Trust (REIT) in India, Nexus Select Trust on Wednesday said that it has successfully raised non-convertible debentures (NCDs) of 1000 crs coupon bearing at ~7.70%. These NCDs were raised in two Tranches of Rs. 600 crs and Rs. 400 crores and is non-amortizing with bullet repayment on maturity. The issue witnessed strong interest from both new and old investors evidencing a robust investor confidence in REIT’S ability to fuel inorganic growth through debt capital.The Blackstone backed REIT’S current Loan to value Ratio (LTV) is only ~14% which gives them a big headroom for growth using debt capital , Nexus Selest Trust intends to use debt capital for acquiring new malls and for general corporate purpose. The N...

Mumbai, July 2024. Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed Retail REIT, reported results today for the first quarter ended June 30, 2024.Business Highlights·  Achieved Retail Net Operating Income of INR 3,719 million (8% YoY growth) in Q1 FY25; in-line with FY25 projections·  Declared distribution of INR 3,253 million or INR 2.147 per unit for Q1 FY25; in-line with FY25 projections. On track to achieve FY25 guidance·  Achieved tenant sales of ~INR 30 billion; witnessed sequential improvement in tenant sales and footfall growth in June·  Strong balance sheet with low LTV of 14%, attractive debt cost at 8.1%, AAA / Stable rating and no near- term large debt maturity·  Signed two term sheets for acquisition of 0.8 million square fee...