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The NDR Infrastructure Investment Trust (NDR InvIT), listed on the National Stock Exchange, reported strong Q4 and FY24 results. Highlights include a Net Asset Value (NAV) of INR 126.29 as of March 31, 2024, and a payout of INR 1 per unit for the period from February 8 to March 31, 2024. Managing 17 million square feet of assets with plans to add 3 million square feet in FY25, NDR InvIT boasts a 96% occupancy rate and high credit ratings of 'CARE AAA, Stable' and 'IND AAA, Stable'. The trust reported revenues of INR 427 million, aligning with projections.
The NDR Infrastructure Investment Trust, otherwise known as the NDR InvIT, is a trust focused on warehousing and industrial parks, and is currently also listed on the National Stock Exchange. NDR InvIT recently reported their audited Quarter 4 and FY24 results. Advertisement
Some of the highlights from the report are: Net Asset Value (NAV) is INR 126.29 as of 31st March, 2024. NDR InvIT declared a payout of INR 1 per unit to all investors for the period from February 8, 2024, to March 31, 2024. The trust currently manages assets totaling 17 million square feet across India and plans to expand by adding 3 million square feet in the next financial year (FY25). The trust received high credit ratings of 'CARE AAA, Stable' from CARE Ratings Ltd and 'IND AAA, Stable' from India Ratings and Research (part of the FITCH Group).
NDR InvIT Trust was officially registered on March 27, 2023. It started its operations on February 8, 2024, and was listed on the stock exchange on February 14, 2024. Because the trust was listed so recently, there are no comparative financial figures available for the year, half-year, or quarter ending March 31, 2024.
The CEO of NDR InvIT, Krishnan Year, expressed his gratitude to the stakeholders for their support, and highlighted the recent listing of units as a major achievement. He also highlighted that the AUM is currently at 17 million square feet, spread across various sectors and clients, a strong weighted average lease expiry (WALE), and with 96% occupancy. For fiscal year 2025, he announced that the plan is to add 3 million square feet while maintaining strong operational and financial metrics, as well as the AAA rating.
NDR InvIT has a total of 15.46 million square feet of Grade A leased warehouses and 1.5 million square feet of Grade B warehouses, with a 96% occupancy rate across India. The top 10 clients contribute to 42% of the total leased space, and the average lease term is 11.7 years. NDR InvIT reported revenues of INR 427 million for the period, meeting management's expectations. This, along with Net Operating Income (NOI) and Earnings Before Interest and Taxes (EBIT) being in line with projections, allowed the trust to declare a dividend. NDR InvIT holds a AAA/Stable rating from both CARE Ratings and India Ratings (FITCH).
The plan for the current year is to expand an additional 3 msf, spread across major commercial hubs such as Chennai, NCR, Pune, Bangalore, as well as Goa, Sricity, and Chatrapathi Sambaji Nagar (Aurangabad).
5th Jun, 2025
25th May, 2023
11th May, 2023
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