Nexus Select Trust (NXST) Q2FY27 Concall Transcript - Sep-2026 Qtr
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Dalip Sehgal (Nexus Select Trust): If you look at Guwahati, there is nothing to buy and the opportunity there we saw is huge, you know, with the seven eastern states, etcetera, etcetera. It's the gateway to everything. If there's nothing to buy, we have to look at what else is available.
Dalip Sehgal (Nexus Select Trust): also remember that it is not a ground up greenfield that we've bought, it was a mall and a hotel under construction, which we have sort of done a forward buy on. Dombivli if you ask me again similar thing, which is that if you go to Dombivli today, it is similar to what Seawoods was 8 years ago when we bought it from L&T. And at that point in time, everybody said, my god, nothing will happen in this area. And look at Seawoods today, one of our best performing assets. Right. So, I think Dombivli and is roughly in that kind of a timeframe right now, and by the time the mall sort of comes up and is fully operational, I think we in the future will have an asset which is really, really, you know commercially at the top of the heap in terms of the location itself. So, to answer your question, I think again, it's a question of where the opportunity is and whether we have anything to buy, and if you have none, I think we will have to look at, you know, buying it. To to invest in a green or a brownfield if if there is nothing else. But we still you know, parallely as if as you would have seen, I think four of the six assets are still assets that are operating. So, I think the strategy of saying you know, buy an asset, the that playbook stays. So, there is nothing different over here. It's more a question of if the opportunity exists in the market where there is nothing available for in then foreseeable future to buy, then I think you have to look at what is available. That's really what it is.
Pratik Dantara (Nexus Select Trust): And, Pritesh, we kind of in this financial year, right, we're looking to close the Diamond Mall acquisition in Kolkata soon, hopefully this month. And then we have a couple of more assets which are currently under diligence, and we expect to close those transactions as well by March. So, at least in the very short term the pipeline for third party acquisitions is looking very, very strong.
Pritesh: Sure, and just one last you know just trying to understand apart from these acquisitions let grow, is there any, you know, densification opportunity within our portfolio specifically for some of the successful malls like you know Seawoods, Elante, and if you are trying to explore that you know, you can highlight that. Yeah.
Pratik Dantara (Nexus Select Trust): There is. There is There are densification opportunities available. We've already kind of announced the the boulevard area in in Nexus Elante, wherein we had acquired 60,000 square feet, so we're working towards leasing that out and then there are opportunities. I won't give out specific cities, but there are opportunities up north and in the west that they are or we are actually evaluating.
Dalip Sehgal (Nexus Select Trust): Yeah, and we did that as a matter of fact, you are aware of the fact that we did that in Ahmedabad, where then we constructed almost what, almost 1,60,000 square feet. Yeah, so I think we do keep looking at opportunities. We also keep looking at some of these laws also keep changing in states, etcetera, and if there is an opportunity, obviously, we
Pritesh: Sure. Thanks. That's it from my side. All the best. And and thank you, Dalip, sir, for your insights. It was always helpful. And welcome, Sidharth, to the team. Looking forward to the journey from here on. Yeah, thanks.
Dalip Sehgal (Nexus Select Trust): Thank you. Thanks.
Moderator: Thank you very much. A request to all the participants, please limit yourself to two questions per participant and rejoin for a follow up. Next question is from the line of Girish Choudhary from Avendus Spark. Please go ahead.
Girish Choudhary (Avendus Spark): Yeah. Hi. Thanks for the opportunity. I mean, just as a follow-up to the development opportunities where you're doing the Runwal and and the Guwahati, how should we think about the returns in terms of how should it compare versus let's say some of the assets which you buy which are already stabilized versus this kind of opportunities. And from a risk point of view how how do you insulate yourself from the development risk and also releasing risk?
Dalip Sehgal (Nexus Select Trust): Okay, Pratik, do you want to take that?
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