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NDR InvIT Trust, India's first Perpetual Warehousing and Industrial Parks InvIT, reported a NAV of INR 127.26 per unit and a Q3 FY25 distribution of INR 1.75 per unit. The trust grew revenue by 5.65% and EBITDA by 8.86% to INR 715.55 million, maintaining a 98% occupancy rate across 19.01 MSF of assets. It is acquiring 2.01 MSF in Bengaluru, Hyderabad, Pune, and Surat. NDR also issued India's first Sustainability Linked Bonds, refinancing debt with IFC and NaBFID participation. The record date for distribution is February 12, 2025, reinforcing its commitment to investor returns.
NDR InvIT Trust, known as the first Perpetual Warehousing and Industrial Parks InvIT in India, has released its financial results for the third quarter and the first nine months of the fiscal year 2025, which ended on December 31, 2024. The trust reported a Net Asset Value (NAV) of INR 127.26 per unit. For Q3 FY25, it declared a distribution of INR 1.75 per unit, which includes INR 0.85 as interest and INR 0.90 as a return of capital. This distribution reflects the trust's commitment to providing returns to its investors while managing a substantial portfolio. Advertisement
As of the end of December 2024, NDR InvIT Trust manages assets totaling around 19.01 million square feet (MSF) across India. Currently, it is in the process of acquiring an additional 2.01 million square feet in key cities, including Bengaluru, Hyderabad, Pune, and Surat. This acquisition strategy is part of the trust's broader plan to expand its operational footprint, which already includes 33 industrial parks and over 55 warehouses spread across 13 cities.
Sandeep Jain, the Chief Financial Officer of NDR InvIT Trust, highlighted that the third quarter was significant for the trust. The company achieved a revenue growth of 5.65% and an EBITDA growth of 8.86% compared to the previous quarter. Revenue from operations in Q3 FY25 reached INR 793.20 million, contributing to a total of INR 2,295.72 million for the nine-month period. The EBITDA for Q3 stood at INR 715.55 million, with a cumulative EBITDA of INR 2,034.50 million for the nine months.
In addition to its financial performance, NDR InvIT Trust has made strides in sustainability. It became the first InvIT in India to issue Sustainability Linked Bonds, with participation from the International Finance Corporation (IFC) and NaBFID, India's leading Infrastructure Financing Bank. The funds raised from these bonds were used to refinance existing debt, which is expected to enhance cash flows and support further portfolio expansion.
NDR InvIT Trust maintains a high occupancy rate of approximately 98% across its properties, indicating strong demand for its industrial and warehousing spaces. The top ten clients of the trust contribute about 35% of its total revenue, showcasing a diverse client base. Furthermore, around 16% of leases were renewed in FY26, reflecting the trust's ability to retain tenants in a competitive market.
Looking ahead, NDR InvIT Trust is well-positioned to continue its growth trajectory. With its focus on acquiring prime properties and enhancing operational efficiency, the trust aims to deliver consistent value to its investors. The upcoming distribution of INR 1.75 per unit, with a record date set for February 12, 2025, underscores its commitment to providing attractive returns while expanding its portfolio in key markets across India.
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