Nexus Select Trust Reports Record NOI and Distribution in H1 FY27
Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed retail REIT, has announced its financial results for the quarter ended September 30, 2026. The Trust delivered strong growth in consumption, income and leasing during Q2 FY27.
Strong Consumption and Financial Performance
Nexus Select Trust recorded quarterly consumption of INR 3,909 crore, up 13% year-on-year. All categories contributed to this growth. The performance came despite the festive season shifting largely to Q3 this year.
Net Operating Income (NOI) rose 8% year-on-year to INR 504 crore. Strong consumer spending and leasing activity supported this growth.
The Trust also declared a distribution of INR 359 crore, equal to INR 2.367 per unit. This represents an 8% year-on-year increase in distribution per unit (DPU). It also marks the 13th consecutive quarter of 100% distribution payout to unitholders.
Since its listing, Nexus Select Trust has distributed more than INR 4,400 crore.
Leasing Growth and Strong Balance Sheet
The Trust achieved 25% re-leasing spreads on 0.5 million sq. ft. of space during the quarter. Its balance sheet also remained strong.
The cost of debt stood at 7.2%, down 30 basis points year-on-year. The Trust also maintained an AAA/Stable credit rating and a loan-to-value (LTV) ratio of 18%.
Dalip Sehgal, Executive Director and Chief Executive Officer, Nexus Select Trust, said “I am pleased to share that we have delivered robust 13% year on year consumption growth during the quarter despite the festive season shifting largely to Q3 this year. This performance reffects the resilience of our portfolio and the strength of our operational execution in a challenging environment.
Building on this strong operational performance, we delivered 8% YoY growth in NOI in Q2 FY27 and are pleased to announce a distribution of INR 359 crores, equivalent to INR 2.367 per unit, reffecting 8% growth in DPU. Cumulatively since listing, we have distributed more than INR 4,400 crores and delivered IRR of 24%, underscoring our commitment to delivering consistent returns to our unitholders.
During the quarter, we announced our strategic entry into Northeast India through a landmark transaction to develop a Grade-A mall and hotel in Guwahati. This marks the first step in our broader strategy to establish a presence across the high-potential consumption markets of East and Northeast India, with Guwahati offering an attractive entry point into the region.”
Expansion Plans and Leadership Transition
Nexus Select Trust also announced its entry into Northeast India during the quarter. The Trust plans to develop a Grade-A mall and hotel in Guwahati. This move marks the first step in its plan to enter key consumption markets across East and Northeast India.
The Board recognised Dalip Sehgal’s role in building Nexus into a leading retail platform. It also acknowledged his contribution to the Trust’s listing and growth. Under his leadership, Nexus developed a strong operating platform, sound governance practices and a clear growth strategy.
Siddharth Nawal, Managing Director and CEO-Designate, Nexus Select Trust, outlined the next phase of expansion. He said, “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. Backed by a strong balance sheet, low leverage and nearly USD 1 billion in available debt headroom, we are well positioned to capitalise on attractive inorganic growth opportunities and continue scaling our platform. I look forward to leading Nexus through its next phase of growth, starting with the addition of consumption centres in East and North-East India.”
The Trust has identified six retail assets across India for potential acquisitions. Two of these assets are currently under due diligence. With nearly USD 1 billion in available debt headroom, it aims to use these opportunities to expand its portfolio and reach its goal of doubling its portfolio by 2030.
Distribution Date and Earnings Call
The Board of Directors of Nexus Select Mall Management Private Limited, the Manager to Nexus Select Trust, declared the Q2 FY27 distribution at its meeting on November 3, 2026.
The record date is November 6, 2026. The Trust will pay the distribution on or before November 16, 2026.
Investors can access the financial results and earnings presentation through the Investors section at www.nexusselecttrust.com. The Q2 and H1 FY27 earnings call is scheduled for November 3, 2026, at 4.30 pm IST. A replay will also be available on the website.
