Nexus Select Trust Q1 NOI rises 11% as mall consumption climbs 17%
Nexus Select Trust reported Q1 NOI of Rs 510 crore, supported by Rs 3,850 crore in retail consumption and leasing spreads above 20%. The mall REIT is advancing its Diamond Plaza acquisition and evaluating more assets as it targets doubling its portfolio by 2030.
Nexus Select Trust reported 11% Q1 NOI growth and 17% higher mall consumption, driven by leasing and retail demand. It added brands, agreed to acquire Kolkata’s Diamond Plaza, and is evaluating further assets to double its portfolio by 2030.
Why this matters
The Q1 gains follow Nexus Select Trust's plan to pursue eight retail acquisitions in eastern India and its Rs 1,000 crore AAA-rated NCD issuance to refinance mall debt, reinforcing its portfolio-doubling strategy.
Retail-company is accelerating, up 229600% QoQ.