Nexus Select Trust (NXST) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management reaffirmed full-year DPU guidance of INR 9.8 to INR 10, stating current interest rate hikes were already factored into its annual plan.
- Forward purchase development projects in Guwahati and Dombivli are targeting a 12-13% yield on cost, with the Runwal project tracking a year ahead of schedule.
- Significant rental uplift is expected from FY28 lease renewals, as long-term anchor leases accounting for 30% of expiring area are up for mark-to-market adjustments.
Performance Overview
- The company reported a 14% year-over-year increase in trading density and a 15% growth in consumption on a like-for-like basis.
- The portfolio is highly leased at 96-97% occupancy, with active discussions underway for renewals and space repurposing for expiries in FY28 and FY29.
- Strategic acquisitions remain a key focus, with the Diamond Mall acquisition in Kolkata expected to close soon and two other assets under diligence.
- The company is actively pursuing development and densification opportunities, including projects in Guwahati and Dombivli, and evaluating further possibilities in northern and western regions.
- Net Operating Income (NOI) grew by 8% on an organic basis, with management noting that the actual growth is higher when accounting for areas under redevelopment.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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