Nexus Select Trust Hits FY26 Targets with 9% DPU Growth and Strong 19% Consumption Surge
Mumbai, May 13, 2026: Nexus Select Trust, India’s inaugural listed Retail REIT, has reported a robust financial performance for the fiscal year ending March 31, 2026, successfully meeting its dividend guidance. The Trust announced a fourth-quarter distribution of Rs 3,463 million, translated to Rs 2.286 per unit. This achievement brings the full-year Distribution Per Unit (DPU) to Rs 9.1, representing a 9% year-on-year growth and marking the 11th consecutive quarter of a 100% distribution payout since the entity’s listing, Nexus Select Trust said in a press release.
The Trust’s operational metrics showed significant momentum in the final quarter, with tenant consumption jumping 19% year-on-year. This surge was primarily fueled by high-performing categories such as Fashion, Beauty & Personal Care, Jewellery, Electronics, and Entertainment. Correspondingly, the Retail Net Operating Income (NOI) saw an 11% increase, reaching Rs 4.4 billion for the quarter. Portfolio occupancy remained steady at a healthy 97%, supported by successful re-leasing efforts covering 0.24 million square feet during the period.
Strategic expansion remained a core focus for the Trust throughout the fiscal year. Following the successful integration of the Vega City and MBD Complex assets—which saw a 15% rise in tenant sales—Nexus Select Trust has announced the acquisition of the 244,000-square-foot Diamond Plaza mall in Kolkata. This move strengthens the Trust’s footprint in East India and aligns with its broader ambition to double its portfolio by 2030. The management also highlighted a recent agreement with Runwal Enterprises for a 0.7 million-square-foot development in the Mumbai Metropolitan Region and the acquisition of prime space within the Nexus Elante Complex.
Financial stability continues to underpin the Trust’s growth strategy, characterized by a low Loan-to-Value (LTV) ratio of 18% and a competitive debt cost of 7.3%. Maintaining an AAA/Stable credit rating, the Trust reports approximately USD 1 billion in debt headroom for future acquisitions. Looking ahead to the next fiscal year, the Board has issued a DPU guidance of Rs 9.8 to 10 per unit, signaling an anticipated 9% growth for FY27. The record date for the most recent distribution has been set for May 15, 2026, with payments expected by May 22.
Dalip Sehgal, Executive Director and CEO at Nexus Select Trust, expressed confidence in the platform’s trajectory. “We delivered another strong quarter of operational and financial performance, with tenant sales growing by 19% and retail net operating income rising by 11%. On the back of this performance, we are pleased to announce a distribution of INR 3,463 million, equivalent to Rs 2.286 per unit, marking the 11th consecutive quarter of 100% payout. With this distribution, we have cumulatively distributed ~Rs 37 billion / Rs 24.5 per unit and delivered total return of above 75% to unitholders since listing. We are targeting DPU growth of 9% for FY27,” Sehgal stated.
Highlighting the future pipeline, Sehgal added: “During the year, we have successfully integrated Vega City and MBD Complex, with both assets delivering strong performance – evidenced by tenant sales growth of 15% and footfall growth of 9% in FY26. During the last six months, we strategically acquired ~60,000 square feet of prime retail space in Nexus Elante Complex and signed an agreement with Runwal Enterprises for development of 0.7M sf under-construction Grade-A mall in MMR. Aligned with our strategy to double the portfolio by 2030, we recently announced the acquisition of Diamond Plaza mall in Kolkata, with closing expected in the first half of FY27. We have built a robust acquisition pipeline of 8 retail assets across India, two of them are currently under due-diligence. With a strong balance sheet, low leverage, and nearly USD 1 billion of debt headroom, we are well positioned to pursue future inorganic growth opportunities.”
