Nexus Select Trust (NXST) Q3 25/26 earnings summary

Executive summary

• Achieved 15% year-over-year retail NOI growth in Q3 FY26, with strong double-digit consumption momentum and robust leasing demand across categories and geographies.

• Declared highest-ever quarterly distribution of INR 359 crores (INR 2.367 per unit), with cumulative FY26 distribution at INR 1,029 crores (INR 6.795 per unit), reaching 75% of full-year guidance.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved, with auditor's limited review reports noting no material misstatements.

• Remain on track to meet full-year NOI and distribution guidance, supported by a strong acquisition pipeline and proactive asset management.

• Completed strategic bolt-on acquisition of 60,000 sq ft in Nexus Elante, with robust pipeline of 11 assets for inorganic growth.

Financial highlights

• Retail NOI grew 15% year-over-year; like-for-like NOI growth was 8%.

• Q3 FY26 revenue from operations: INR 6,712M; NOI: INR 5,033M; EBITDA: INR 4,716M.

• Standalone profit after tax for Q3 FY26: ₹296.87 crore; consolidated profit: ₹139.40 crore.

• Declared highest-ever quarterly distribution: INR 3,586M / INR 2.367 per unit, up 8% YoY.

• 100% NDCF payout ratio for the 10th consecutive quarter; total payout since listing at approximately INR 22 per unit and IRR exceeding 27% since May 2023.

Outlook and guidance

• Expect double-digit consumption growth momentum to sustain in coming months.

• On track to achieve full-year NOI and DPU guidance, with robust acquisition pipeline and 11 assets under due diligence.

• Targeting 18–20 million sq ft portfolio by 2030, aiming to double current scale.