The 2HFY2022 DPU reported by CapitaLand India Trust is 3.91 cents, up 9% year over year

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Tembusu Grand in Jalan Tembusu

The administrator of CapitaLand India Trust (CLINT) has announced an average distributable per unit (DPU) of 3.91 cents in its second quarter of FY2022 which ending December 31, 2022. This is 9% over its DPU figure of 3.60 cents during the same timeframe the year prior.

Tembusu Grand in Jalan Tembusu sets in a laidback area oozes understated charm since it is home to some of the most luxurious Condos in Singapore.

DPU for FY2022 rose by 5% year-over-year to 8.19 cents, up from 2021’s 7.80 cents. The higher DPU is mostly attributable to increased ratio of portfolio occupancy as well as the income that comes from acquisitions.

The total property income for the 2HFY2022 year was in the range of INR4.78 billion ($76.5 million) 11% more than the previous year, which translates to total property revenue in the range of INR11.9 billion over the whole year.

The reason for this was the greater portfolio occupancy and the income generated from the AVance 6 in Hyderabad that the trust purchased in the month of Mar 2021; Building Q1 of Aurum Q Parc at Navi Mumbai that it acquired in Nov 2021. Arshiya Warehouse 7 it bought in the month of March 2022 in addition, the Industrial Facility in Mahindra World City, Chennai which it purchased in May 2022.

Total property expenses have increased to 22% in the range of INR2.5 billion, mostly due to increased maintenance and operational costs as well as property management costs from newly purchased and existing properties.

CLINT had a committed ratio of portfolio utilization of 92% as of Dec 31, 2022. Meanwhile, the funds under the trust totalled $2.5 billion. The gearing proportion was around 37%.

The CEO of the manager Sanjeev Dasgupta highlights the plans to establish two additional data centers at Hyderabad and Chennai that it was announced on December 31st, along with Mumbai as well as Bangalore.

“We are now operating a data center platform that is located in the most prime locations of India’s four major data center markets. We are also looking forward to the finalization with the purchase International Tech Park Pune – Hinjawadi 5.

“This is an asset that is fully leased and will produce and increase the steady returns of our unit holders. We believe that the acquisitions completed and announced throughout the year will help position CLINT to grow further by 2023.” He adds.

The units in CLINT were sold flat on February 6 for $1.19.