Nexus Select Trust management conducted a one-on-one meeting with an institutional investor on August 06, 2026. Senior management personnel from Nexus Select Mall Management Private Limited, the Manager to Nexus Select Trust, attended the session. This engagement provides insight into the trust’s ongoing dialogue with key market participants regarding its performance and strategic direction.

The disclosure was submitted to The National Stock Exchange of India Limited and BSE Limited on August 07, 2026. Vijay Kumar Gupta, General Counsel, Company Secretary & Compliance Officer, signed the filing. The communication references script symbol NXST and Scrip Code 543913 for the equity shares.

The filing also lists specific scrip codes for the trust’s debt instruments. Non-Convertible Debentures (NCDs) are identified by codes 974909, 976118, 976119, 976657, 977372, and 977376. Commercial Papers (CPs) are referenced under code 732000.

Meeting Details

The interaction took place in a private format, allowing for detailed discussion between the trust’s leadership and the investor. Such meetings are standard practice for listed entities to maintain transparency and address specific queries from large stakeholders.

Regulatory Compliance

The disclosure aligns with regulatory requirements for reporting significant interactions with institutional investors. Nexus Select Mall Management Private Limited is registered at Embassy 247, Unit No. 501, B Wing LBS Marg, Vikhroli (West), Mumbai City MH - 400083. The company’s CIN is U70109MH2021PTC363065.

Nexus Select Trust reported an 11% year-on-year rise in net operating income (NOI) to ₹510.05 crore for the quarter ended June 30, 2026 (Q1 FY27), driven by a 17% surge in portfolio consumption to ₹3,850 crore. The India-first listed retail REIT declared a distribution per unit (DPU) of ₹2.442, a 10% increase from the ₹2.230 paid in the corresponding period last year, maintaining its near-100% payout ratio of net distributable cash flows. This performance underscores strong tenant demand and operational resilience, offering unitholders a consistent yield stream supported by accelerating retail sales across its assets.

The Board of Directors of Nexus Select Mall Management Private Limited, the Manager to the Trust, approved the unaudited consolidated financial results on August 03, 2026. The statutory auditors issued an unqualified limited review report on the accounts. The results were prepared in accordance with SEBI (Real Estate Investment Trusts) Regulations, 2014, and Indian Accounting Standard (Ind AS) 34. Newspaper advertisements disclosing these results were published in the Economic Times and Business Standard on August 04, 2026.

Operational and Financial Highlights

Consumption across the trust’s portfolio surged 17% year-on-year to ₹3,850 crore in Q1 FY27, reflecting broad-based demand across retail categories. This top-line momentum translated into higher trading density, which grew 16% YoY to ₹1,931 per square foot per month. Footfall increased by 5% YoY to approximately 36 million visitors. Ticketed attractions saw a significant boost, with sales growing 37% YoY following the introduction of over 65 curated experiences.

The trust’s revenue from operations rose to ₹680.53 crore from ₹613.58 crore in Q1 FY26. Mall rentals contributed ₹596.33 crore to this total, while hospitality segment revenue grew 33% YoY to ₹47.82 crore. Other income stood at ₹22.33 crore. The profit for the quarter was ₹156.52 crore, compared to ₹119.58 crore in the prior year period.

Leasing and Portfolio Strategy

Leasing activity remained robust, with the trust re-leasing 0.4 million square feet at healthy spreads during the quarter. Notably, 0.2 million square feet was re-leased ahead of lease expiries at spreads exceeding 20%, demonstrating strong tenant demand. The portfolio achieved a leasing occupancy of 96% and trading occupancy of 95%. The weighted average lease expiry (WALE) stands at 4.5 years.

New brand additions include first-to-portfolio stores for Lego, Kurt Geiger, and Harajuku Bakehouse, enhancing the premium positioning of the assets. In a strategic move to double its portfolio by 2030, Nexus Select Trust announced the acquisition of Diamond Plaza mall in Kolkata, expected to close in the first half of FY27. The trust has built a pipeline of eight retail assets, with two currently under due diligence.

Financial Position and Distribution Composition

The trust maintains a strong balance sheet with gross debt of ₹6,181 crore and net debt of ₹5,592 crore. The loan-to-value (LTV) ratio stands at 18%, well within regulatory limits. With nearly $1 billion in available debt headroom, the trust is positioned to pursue further inorganic growth opportunities. The interest coverage ratio is 4.4x, and the net debt-to-EBITDA multiple is 2.8x.

The declared DPU of ₹2.442 comprises ₹1.041 per unit in the form of interest, ₹0.861 per unit as dividend, ₹0.003 per unit from other income, and ₹0.537 per unit from amortisation of debt. The aggregate distribution amounts to ₹369.96 crore. The record date for the Q1 FY27 distribution is set for August 06, 2026, with payments scheduled on or before August 13, 2026.

What the Numbers Show

The divergence between consumption growth (17%) and NOI growth (11%) suggests that while top-line tenant sales are accelerating rapidly, operational efficiencies or rental escalations are contributing to income growth at a slightly moderated pace. However, the ability to achieve double-digit re-leasing spreads on proactive churn indicates that future NOI growth may accelerate as new leases come into effect, supporting the sustainability of the high distribution payout ratio.