Nexus Select Trust posts INR 25.7bn FY26 revenue, 97% retail occupancy across 19 centres

India's first listed retail REIT reported INR 143 billion+ in FY26 tenant sales and 137 million+ footfalls across its 10.7 msf portfolio spanning 15 cities. NOI reached INR 19.3 billion with a conservative 18% LTV against INR 306 billion GAV, housing ~1,100 brands in 3,200+ stores.

— FiledSun, 28 Jun, 2026, 17:04 IST·First seen Sun, 28 Jun, 2026, 17:03 IST·Source Nexus Select Trust · official

What happened

Nexus Select Trust, India's first listed retail REIT, reported FY26 metrics: 97% retail occupancy, INR 143 billion+ tenant sales, 137M+ footfalls, INR 25.7

Key facts

  • 19 consumption centres
  • 10.7 msf GLA
  • 15 cities
  • ~1,100 brands
  • 3,200+ stores
  • 97% retail occupancy
  • INR 143 billion+ FY26 tenant sales
  • 137 million+ FY26 footfalls
  • INR 19.3 billion FY26 NOI
  • INR 306 billion GAV
  • 18% LTV
  • INR 25.7 billion FY26 revenue
  • 94% office occupancy

Why this matters

With strong balance-sheet capacity (18% LTV) and a proven 10.7 msf operating platform across 15 cities, Nexus is well-positioned to consolidate India's fragmented mall landscape through accretive consumption-centre acquisitions.

What to watch

  • RBI rate decisions affecting REIT yield spreads
  • Festive/quarterly tenant sales and footfall trend prints
  • Same-store NOI growth and re-leasing spread disclosures
  • GAV revaluation and cap-rate movement at next valuation cycle
  • Competing retail REIT listings altering the supply of yield product
  • Watch for announced mall acquisitions or right-of-first-offer deals funded via the LTV headroom
  • Track quarterly DPU (distribution per unit) guidance for organic vs inorganic growth split
  • Monitor brand additions and anchor-tenant churn across the 3,200-store base
  • Assess any debt refinancing or new issuance given the conservative leverage profile

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