Nexus Select Trust Reports 15% Rise in Q3FY26 Net Operating Income to ₹450 Crore
Nexus Select Trust’s net operating income (NOI) for the third quarter of the financial year 2026 (Q3 FY26) increased by 15 per cent year-on-year (YoY) to ₹450 crore. This growth is attributed to high occupancies and contributions from its recently acquired assets.
The Mumbai-based real estate investment trust (Reit) reported a leased occupancy of 97 per cent across its assets for Q3 FY26. Its recently acquired assets, Nexus Vega City and Nexus MBD Neopolis, continued to demonstrate strong momentum. These assets delivered around 15 per cent growth in tenant sales alongside positive footfall trends during Q3 FY26, apart from contributing to rental income.
The Reit also achieved its highest-ever quarterly tenant sales of ₹4,100 crore, up 16 per cent YoY. This growth was driven by robust consumption across various categories, including beauty and personal care, fashion, jewellery, and entertainment.
Nexus has declared a distribution of ₹358.6 crore (₹2.367 per unit), up 8 per cent YoY, marking its highest quarterly distribution since listing. The Reit has provided a 10 per cent growth guidance for distribution in FY26, projecting it to reach ₹9.1–9.2 per unit. The NOI stood at ₹1,711 crore in FY25.
Dalip Sehgal, Executive Director and CEO at Nexus Select Trust, commented, “We remain firmly on track to achieve our FY26 NOI and distribution guidance. During the quarter, we completed the strategic acquisition of around 60,000 square feet of prime retail space across the Ground and First floors at Nexus Elante, further enhancing the mall’s retail positioning. We intend to selectively replicate this acquisition-led expansion strategy across our portfolio where similar opportunities exist.”
Nexus aims to double its portfolio by 2030. The Reit currently has 19 malls in its portfolio. “We have 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 added.
Nexus Select Trust is a leading real estate investment trust based in Mumbai, India. The company focuses on acquiring, developing, and managing high-quality retail properties across major cities in India. With a strong portfolio and a strategic approach to growth, Nexus Select Trust is well-positioned to capitalize on the growing real estate market in India.
