- CapitaLand India Trust (CLINT) announced a 9% year-on-year
(y-o-y) increase in distribution per unit (DPU) to 3.97 Singapore cents for the six months ended
30 June 2025 (1H FY 2025). 1H FY 2025 net property income (NPI) increased by 14% y-o-y in
Indian Rupee (INR) terms and 10% in Singapore Dollar (SGD) terms due to higher property
income, partially offset by higher operating expenses during the period.
Income available for distribution for the same period grew by 15% y-o-y in INR terms and 10% in
SGD terms, mainly due to higher NPI, partially offset by higher net finance costs and Trustee-
Manager fees.
Mr Gauri Shankar Nagabhushanam, Chief Executive Officer of CapitaLand India Trust
Management Pte. Ltd. (the Trustee-Manager of CLINT), said: “CLINT’s strong first half results
were underpinned by income contributions from newly completed developments, and supported
by positive rental reversions and high occupancy rates. This reflects the strength and resilience
of our portfolio across key cities in India.”
“Revenue contribution from one of our data centres is set to commence in the second half of 2025
and development of the data centres is progressing well. We are actively engaging potential
buyers to divest some of our assets, including partial stakes in our data centres to unlock value
and reduce debt. These potential divestments are part of our active portfolio management
strategy, which will increase our financial flexibility to pursue higher-yielding assets and deliver
sustainable returns for unitholders.”
Financial performance
Total property income for 1H FY 2025 increased by 14% y-o-y to INR9.6 billion, mainly driven by
higher rental income from existing properties compared to the same period last year.
The increase also reflects new income contributions from two newly completed and fully leased
developments - MTB 6 at International Tech Park Bangalore and CyberVale Free Trade
Warehousing Zone in Chennai, which commenced operations in 1H 2025. Additional
contributions came from aVance II in Pune and Building Q2 in Mumbai, which were acquired in
March 2024 and July 2024 respectively.
Portfolio performance and capital management
As at 30 June 2025, CLINT achieved a committed portfolio occupancy of 90% and registered
positive portfolio rental reversions of 9%.
CLINT’s gearing stood at 42.3% as at 30 June 2025. On 2 July 2025, S$100 million of 4.40%
subordinated perpetual securities were issued, the proceeds of which were used for debt
repayment. With this, the pro forma gearing ratio has reduced to 40.1%. Of CLINT’s total
borrowings, 77.2% are on fixed interest rates, and 54.2% are hedged into INR. The Trust
maintains a debt headroom of approximately S$692 million.
https://sporeshare.blogspot.com/2025/07/capland-india-tr-1st-half-results-is.html
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