NEW DELHI: Nexus Select Trust has reported a quarter-on-quarter growth of 36.97 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 1,463.58 million in Q4 FY24 as against Rs 1,068.55 million it recorded in Q3 FY24, the company said in a BSE filing.
The company’s net consolidated total income stood at 5,607.02 million in Q4 FY24, a quarter-on-quarter dip of 4.71 per cent from Rs 5,884.02 million it recorded in Q3 FY24.
Dalip Sehgal, executive director and chief executive officer of the company said, “We are delighted to announce our third distribution of Rs 3,168 million translating to Rs 2.09 per unit outperforming our guidance. During the year, we leased 1.1 million sq ft achieving our highest ever occupancy of 97.6%. Our tenant sales grew by 13% year-on-year ahead of the market growth. Our net operating income grew by 16% year-on-year.”
The board of directors of Nexus Select Mall Management (NSMMPL), manager to Nexus Select Trust declared distributions of Rs 3167.87 million / Rs 2.091 per unit for the quarter ended March 31, 2024. The distribution comprises Rs 760.53 million / Rs 0.502 per unit in the form of interest (less applicable taxes, if any), Rs 1,625.60 million / Rs 1.073 per unit in the form of dividend, Rs 15.15 million / Rs 0.010, per unit in the form of other income and Rs 766.59 million / Rs 0.506 per unit in the form of repayment of SPV level debt.
The board declared net asset value of Rs 144.61 per unit for the Nexus Select Trust as at March 31, 2024.
The company reported quarterly tenant sales of Rs 28 billion, nine per cent year-on-year growth, leased 0.26 million sq ft across 181 deals during Q4 FY24 achieving occupancy of 97.6%, improvement by ~130 bps over March 2023.
It achieved net operating income of Rs 4,166 million, 13% year-on-year growth in Q4 FY24, refinanced Rs 9,500 million at ~8.1% resulting in annual savings of ~ Rs 40 million.
