Nexus Select Trust Reports 7% Increase in Net Operating Income to Rs 413 Crore in Q1FY25
Nexus Select Trust, a listed REIT backed by retail real estate, reports 7% increase in net operating income to Rs 413 crore in Q1FY25, with plans to raise up to Rs 1,700 crore through issue of commercial papers and debentures.
Nexus Select TrustReitRetail Real EstateNet Operating IncomeCommercial PapersDebenturesReal EstateJul 30, 2024
In a regulatory filing, the company announced plans to raise up to Rs 1,700 crore through the issue of commercial papers and debentures. The board has approved the raising of funds by issuing listed, rated, redeemable, commercial papers, for an aggregate principal amount of up to Rs 500 crore, and also non-convertible debentures up to an aggregate principal amount of Rs 1,200 crore in one or more transactions, series or tranches.
Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, attributed the growth in retail NOI to the company's efforts to improve operational efficiencies and lease structures.
Frequently Asked Questions
What is the net operating income of Nexus Select Trust for Q1FY25?
Rs 412.7 crore
What is the growth rate of Nexus Select Trust's retail NOI in Q1FY25?
8% year-over-year
How much does Nexus Select Trust plan to raise through issuing commercial papers and debentures?
Up to Rs 1,700 crore
What is the gross leasable area of Nexus Select Trust's shopping malls?
9.9 million square feet
How many domestic and international brands are part of Nexus Select Trust's retail real estate assets?
Over 1,000
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