Nexus Select Trust, India’s first publicly listed retail-focused real estate investment trust, reported an 8 per cent year-on-year rise in net operating income to ₹504 crore for the second quarter of financial year 2026-27, citing strong consumption and leasing momentum across its portfolio.
The trust announced the results in a statement on Tuesday. It also declared a distribution of ₹359 crore, or ₹2.367 per unit, representing an 8 per cent increase from the same quarter a year earlier. The payout marks the 13th consecutive quarter in which Nexus Select Trust has distributed 100 per cent of its distributable amount to unitholders.
Dalip Sehgal, executive director and chief executive officer of Nexus Select Trust, said the performance was achieved even though a significant part of the festive season had shifted into the third quarter. He attributed the result to the resilience of the portfolio and the trust’s operational execution.
The trust’s assets include 19 malls with a combined gross leasable area of 10.7 million square feet across 15 cities. Its portfolio also comprises three hotels with a total of 450 keys and three office assets with 1.3 million square feet of gross leasable area.
The results provide a snapshot of the scale at which organised retail real estate is operating across Indian cities. The portfolio combines shopping centres with hospitality and office assets, allowing the trust to participate in multiple forms of urban commercial activity rather than relying only on one property segment. The company, however, did not provide additional city-level operating figures in the statement.
During the quarter, Nexus Select Trust announced its entry into India’s Northeast through a transaction to develop a Grade-A mall and hotel in Guwahati. The company described the project as its first step towards establishing a presence in consumption markets across eastern and northeastern India, with Guwahati serving as its entry point into the region.
The Guwahati transaction expands the trust’s stated geographic strategy beyond its existing 15-city mall portfolio. It also places a large-format retail and hospitality development within a city that the company identified as a potential gateway to the Northeast. Details of the project’s investment size, construction schedule, planned opening and expected leasing were not provided in the statement.
Siddharth Nawal, managing director and CEO-designate of Nexus Select Trust, said the trust was positioned to pursue its ambition of doubling its portfolio by 2030. He cited the company’s balance sheet, low leverage and nearly $1 billion in available debt headroom as factors supporting potential inorganic growth opportunities.
The company’s latest results therefore combine operating growth in its existing assets with a new expansion plan in Guwahati. The next milestones will depend on the development and execution of the announced mall and hotel project, alongside the trust’s continuing leasing performance and distribution record.
