PropShare Celestia Q2FY27 Results: Declares ₹22,242.88 per unit distribution
- Declared distribution of ₹22,242.88 per unit for Q2FY27, aggregating to ₹51.83 million
- Consolidated revenue from operations rose to ₹51.28 million in Q2FY27 from ₹37.93 million in Q1FY27
- Net Asset Value (NAV) per unit stood at ₹11,26,081.55 based on fair value as at September 30, 2026
- Public unit holding remained at 94.98%, with sponsor group retaining 5.02% stake
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PropShare Celestia, the third scheme of the Property Share Investment Trust, declared a distribution of ₹22,242.88 per unit for the quarter ended September 30, 2026. The aggregate distribution amounts to ₹51.83 million, comprising ₹6,102.49 per unit as interest payment and ₹16,140.39 per unit as repayment of debt.
The Board of Directors of PropShare Investment Manager Private Limited approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, on October 12, 2026. The filing also disclosed a Net Asset Value (NAV) of ₹11,26,081.55 per unit based on fair value as at September 30, 2026.
Financial performance
On a consolidated basis, PropShare Celestia reported revenue from operations of ₹51.28 million for Q2FY27, up from ₹37.93 million in the preceding quarter. Total income stood at ₹52.10 million. Profit before tax was ₹37.13 million, while profit after tax was ₹31.28 million. Basic earnings per unit were reported at ₹13,426.60.
The standalone financial results showed total income of ₹14.22 million and profit after tax of ₹13.76 million for the quarter.
| Metric | Q2FY27 (Consolidated) | Q1FY27 (Consolidated) |
|---|---|---|
| Revenue from operations | ₹51.28 million | ₹37.93 million |
| Total income | ₹52.10 million | ₹38.41 million |
| Profit before tax | ₹37.13 million | ₹27.06 million |
| Profit after tax | ₹31.28 million | ₹23.26 million |
| Earning per unit (Basic) | ₹13,426.60 | ₹13,358.61 |
Distribution details
The board approved the distribution of ₹51.83 million for the quarter ended September 30, 2026. This follows a previous distribution of ₹38.31 million (₹16,440.35 per unit) declared in July 2026 for the quarter ended June 30, 2026. The current distribution is composed of:
- Interest payment: ₹6,102.49 per unit
- Repayment of debt: ₹16,140.39 per unit
The scheme holds investment in Special Purpose Vehicles (SPVs) which own the underlying properties. The fair value of these investments was determined by independent external property valuers using a Discounted Cash Flow method.
Unitholding structure
The disclosure submitted to BSE Limited on October 12, 2026, reported a public unit holding of 94.98% for the quarter ended September 30, 2026. The sponsor group retained a stake of 5.02%. This filing complies with clause 4.13 of Chapter 4 of Master Circular No. SEBI/HO/DDHS-PoD2/P/CIR/2025/99, dated July 11, 2025.
The total outstanding units stood at 2,330. The sponsor and its associates held 117 units, all classified under Indian body corporate holdings. All units held by the sponsor group were mandatorily locked-in, with zero units pledged or encumbered.
Public holding accounted for 2,213 units. Within this category, non-institutional investors held the majority share at 82.70%, while institutional investors held 12.27%. Notably, no mutual funds, banks, insurance companies, or provident funds held any units in the scheme.
What the numbers show
The data reveals a distinct concentration among retail and corporate non-institutional investors. Individuals alone held 998 units, representing 42.83% of the total outstanding units. Body corporates followed closely with 838 units, or 35.97%. Together, these two categories comprised nearly 79% of the entire trust's ownership. In contrast, institutional participation was limited exclusively to alternative investment funds, which held 286 units, or 12.27% of the total. The absence of traditional institutional players like mutual funds or insurance companies highlights a reliance on high-net-worth individuals and corporate treasuries for liquidity.
Detailed breakdown
| Category | Units Held | % of Total | Mandatorily Held | Pledged/Encumbered |
|---|---|---|---|---|
| Sponsor Group (Indian) | 117 | 5.02% | 117 | 0 |
| Sponsor Group (Foreign) | 0 | 0.00% | 0 | 0 |
| Public: Institutions | 286 | 12.27% | N/A | N/A |
| Public: Non-Institutions | 1,927 | 82.70% | N/A | N/A |
| Total Outstanding | 2,330 | 100.00% | 117 | 0 |
The public holding segment further breaks down into specific investor types. Non-resident Indians held 91 units, accounting for 3.91% of the total. No NBFCs registered with RBI, clearing members, or government bodies held any units in the public category.
How will the significant portion of the distribution allocated to debt repayment impact the scheme's future leverage ratios and ability to pursue new property acquisitions?
What strategies is the Investment Manager implementing to attract traditional institutional investors like mutual funds and insurance companies to improve liquidity and diversify the current retail-heavy unitholding structure?
Given the reliance on Discounted Cash Flow valuations by external valuers, how might rising interest rates or shifts in commercial real estate demand affect the reported NAV in subsequent quarters?
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