Nexus Select Trust posts FY26 revenue of INR 25.7 Bn, 97% occupancy across 19 malls

India's retail mall REIT reported FY26 metrics spanning 19 consumption centres across 15 cities, 10.7 Msf at 97% occupancy. Tenant sales hit INR 143 Bn with 137 Mn+ footfalls, NOI of INR 19.3 Bn, GAV of INR 306 Bn and a conservative 18% LTV across 1,100 brands and 3,200+ stores.

— FiledSun, 28 Jun, 2026, 17:05 IST·First seen Sun, 28 Jun, 2026, 17:04 IST·Source Nexus Select Trust · official

What happened

Nexus Select Trust, India's retail mall REIT, reported FY26 metrics: 19 consumption centres across 15 cities, 10.7 Msf at 97% occupancy, INR 143 Bn tenant

Key facts

  • 19 consumption centres
  • 15 cities
  • 10.7 Msf retail portfolio
  • 97% occupancy
  • 1,100 brands
  • 3,200+ stores
  • tenant sales INR 143 Bn
  • 137 Mn+ footfalls
  • NOI INR 19.3 Bn
  • revenue INR 25.7 Bn
  • GAV INR 306 Bn
  • LTV 18%
  • 1.3 Msf office
  • 450 hotel keys
  • 15 MW solar

Why this matters

A 1,100-brand, 3,200+ store platform spanning 15 cities offers a scaled consolidation base for acquiring additional consumption centres or anchoring new brand partnerships.

What to watch

  • Same-store NOI growth deceleration below mid-single digits
  • Footfall-to-conversion ratio softening in discretionary categories
  • Interest rate moves affecting REIT cap rates and refinancing costs
  • Anchor tenant exits or vacancy creep below 95% occupancy
  • New mall completions or supply additions in the 15 operating cities
  • Monitor next-quarter DPU guidance and distribution payout consistency
  • Track leasing pipeline and mark-to-market re-leasing spreads at lease expiries
  • Watch for debt-funded acquisition announcements given low LTV headroom
  • Assess tenant mix shifts toward experiential/F&B versus apparel anchors

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