Nexus Select Trust has filed its Annual Report for the financial year ended March 31, 2026, with the National Stock Exchange of India Limited and BSE Limited, pursuant to Regulations 23(2) and 23(5)(e) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The Annual Report was approved by the Board of Directors of Nexus Select Mall Management Private Limited, Manager to the Trust, at its meeting held on June 24, 2026, and has been uploaded on the Trust's website at www.nexusselecttrust.com .

Financial Performance Highlights

FY 2025-26 represented another year of strong operational and financial performance for the Trust. The following table summarises key consolidated financial results:

The 16% decline in profit for the year was primarily attributable to amendments to the Minimum Alternate Tax (MAT) introduced by the Finance Act, 2026, resulting in a one-time tax expense of ₹122.81 crore recognized in the consolidated statement of profit and loss.

Operational Highlights

Full-year consumption reached ₹143 billion, representing year-on-year growth of 15%, while annual footfalls exceeded 137 million across the portfolio, reflecting a 7% year-on-year growth. Leasing occupancy remained at 97%, reflecting sustained retailer confidence. Net Operating Income increased 13% to ₹19 billion, and Distribution Per Unit grew 9% to ₹9.081 per unit, maintaining the Trust's track record of 100% NDCF payout since listing.

Portfolio Overview

The Trust's portfolio comprises 19 Grade-A Urban Consumption Centres across 15 leading Indian cities, with approximately 10.7 million square feet of gross leasable retail area housing approximately 1,100 domestic and international brands across 3,200+ stores. Complementing the retail portfolio are 1.3 million square feet of office space and three co-located premium hotels comprising 450 keys.

During FY 2025-26, two assets were added to the portfolio:

Additionally, the Board approved the acquisition of approximately 60,000 sq. ft. of Gross Leasable Area adjacent to Nexus Elante Mall, Chandigarh, completed on December 5, 2025, at a total enterprise value of INR 253.7 crores.

Balance Sheet and Capital Markets

The Trust's Gross Asset Value stood at ₹305,583 million as of March 31, 2026. Total assets at fair value were ₹32,240.60 crore, total liabilities were ₹7,394.30 crore, and Net Asset Value was ₹24,846.30 crore, translating to a NAV per unit of ₹164. Gross Debt stood at ₹62 Bn with Net Debt at ₹54 Bn, and Net Debt to GAV (LTV) at 18.0%. The weighted average cost of borrowing stood at 7.3% per annum, a reduction of 60 basis points compared to the previous year.

The Trust holds CRISIL AAA (Stable) and ICRA AAA/Stable credit ratings for its non-convertible debentures, and CRISIL A1+ and IND A1+ ratings for its commercial papers. Total distributions since listing amounted to ₹37 Bn, with a unitholder base of approximately 71,000 as of March 2026.

ESG and Sustainability Highlights

During FY 2025-26, the Trust achieved a 37% reduction in Scope 1 and Scope 2 GHG emissions from its FY 2020 baseline, with renewable energy contributing approximately 49% of the total energy mix for HVAC and common areas. Total renewable energy capacity expanded to approximately 60 MW (DC). The Trust achieved CO2 reduction of 29,639 tCO2e from the baseline year FY20, and 18 out of 19 malls achieved Zero Liquid Discharge. CSR expenditure for the year stood at approximately ₹126.18 Mn, with initiatives spanning lake rejuvenation, menstrual hygiene awareness, and community development. The Trust was recognized as a Great Place to Work for the sixth consecutive year.

Business Outlook

Looking ahead to FY 2026-27, the Trust expects Net Operating Income to reach around ₹21 billion, alongside DPU growth of approximately 9%. The Trust's long-term ambition is to build a 30–35 mall platform by 2030 through disciplined and capital-efficient inorganic growth, with a target of generating over ₹35 billion of NOI at scale. The Trust continues to evaluate acquisition opportunities selectively, with emphasis on strategic fit, valuation discipline, and long-term DPU accretion.

Nexus Select Trust has allotted 2,000 units of commercial papers worth an aggregate principal amount of INR 100 Crores to strengthen its financial resources. The Borrowings Committee of Nexus Select Mall Management Private Limited, acting as the Manager to the Trust, approved the allotment on Thursday, June 25, 2026. The issuance was conducted on a private placement basis, targeting eligible investors with the papers listed on the wholesale debt market segment of BSE Limited.

The commercial papers are listed, rated, redeemable, and rupee denominated, issued in dematerialised form. They carry a discount rate of 6.80% and have a tenure of 91 days from the date of allotment, maturing on September 24, 2026. The face value of each unit is INR 5,00,000.

Key Details of the Issuance

The allotment details specify the instrument type, aggregate amount, and maturity structure. The commercial papers are structured to ensure liquidity and attractiveness to potential investors.

Vijay Kumar Gupta, General Counsel, CS and Compliance Officer, signed the regulatory disclosure confirming the outcome of the resolution passed by circulation.