Nexus Select Trust Q2 net operating income rises 8 pc to Rs 504 cr

The company declared distribution of Rs 359 crore in the second quarter of this fiscal, according to a regulatory filing.

"We have delivered a robust 13 per cent year-on-year consumption growth during the quarter despite the festive season shifting largely to Q3 this year," Dalip Sehgal, Executive Director and CEO of Nexus Select Trust, said.

The performance reflects the resilience of the company's portfolio and the strength of operational execution in a challenging environment, he added.

Sehgal said the company has announced a distribution of Rs 359 crore, equivalent to Rs 2.367 per unit, reflecting 8 per cent growth in DPU (distribution per unit).

Cumulatively since listing, the company has distributed more than Rs 4,400 crore to unitholders.

"During the September quarter, we announced our strategic entry into Northeast India through a landmark transaction to develop a Grade-A mall and hotel in Guwahati," Sehgal said.

Nexus Select Trust portfolio comprises 19 Grade-A shopping malls with a Gross Leasable Area of 10.7 million square feet spread across 15 cities in India, three complementary hotel assets (450 keys) and three office assets with a Gross Leasable Area of 1.3 million square feet.

The malls have a tenant base of 1,100 domestic and international brands spanning across 3,200+ stores.