Pratik Dantara, Chief Investor Relations Officer and Head of Strategy at Nexus Select Trust

Real Estate Investment Trust (REIT) Nexus Select Trust sees Tier II markets and eastern India as key areas of interest as it looks to expand its presence across the country. The company also said discretionary consumption in urban markets has remained resilient despite macroeconomic uncertainties.

The REIT reported a 13 per cent year-on-year growth in consumption to ₹3,909 crore in Q2 FY27. Net operating income (NOI) rose 8 per cent year-on-year to ₹504 crore during the quarter, driven by strong consumption and leasing momentum. Occupancy stood at 97 per cent in H1 FY27.

Urban consumption remains resilient

Speaking to businessline, Pratik Dantara, Chief Investor Relations Officer and Head of Strategy at Nexus Select Trust, said the impact of a poor monsoon, changing weather patterns and higher crude prices was more pronounced in rural markets, while urban consumption remained relatively insulated.

The government had not passed on the entire increase in crude prices to consumers, which had helped shield urban discretionary spending, he said. The trust saw no impact on discretionary consumption in its malls in Q2 or early Q3, although rural consumption faced pressure.

Leasing spreads rise 24 per cent

On the leasing front, the REIT reported re-leasing spreads of 24 per cent in Q2 FY27. For the first half of the year, spreads stood at 22 per cent, with the trust completing renewals of 0.9 million sq ft of the approximately 1.5 million sq ft due for renewal during FY27.

The trust declared a distribution of ₹359 crore, or ₹2.367 per unit, for the quarter, up 8 per cent year on year. This marked its 13th consecutive quarter of distributing 100 per cent of distributable cash flows to unitholders.

Published on November 6, 2026