Nexus Select Trust - Stock Valuation and Financial Performance

The Nexus Select Trust was settled on August 10, 2022 at Mumbai, Maharashtra, India as contributory, determinate and irrevocable trust under the provisions of the Indian Trusts Act, 1882, pursuant to a trust deed dated August 10, 2022. The Nexus Select Trust was registered with SEBI on September 15, 2022 as a real estate investment trust under Regulation 3(1) of the REIT Regulations. The Nexus Select Trust has been settled by the Manager (on behalf of the Sponsor) for an aggregate initial sum of 0.10 million. As of the date of this Offer Document, Wynford Investments Limited is the sponsor of the Nexus Select Trust.

Nexus Select Trust REIT is India’s leading consumption centre platform of high-quality assets that serve as essential consumption infrastructure for India’s growing middle class. It expects to be the first publicly listed consumption centre REIT in India upon the listing of its Units on the Stock Exchanges. Consumption growth has served as a key driver of the Indian economy over the last decade and its Portfolio is well-positioned to benefit from the consumption tailwinds of India’s growing middle class and rapid urbanization. Its Portfolio offers an attractive opportunity to capitalize on India’s consumption growth through a robust business model and diversified asset base that can serve as a natural hedge against inflation.

Its Portfolio comprises 17 best-in-class Grade A urban consumption centres with a total Leasable Area of 9.2 msf, two complementary hotel assets (354 keys) and three office assets (1.3 msf) as of December 31, 2022. Its assets are strategically located across 14 leading cities in India, which constituted 30% of India’s total discretionary retail spending in FY20 and had an average population CAGR that was 226 bps higher than the national average from financial years 2011 to 2021.

It has invested in among the highest quality assets in prime in-fill locations of India’s major cities such as Delhi, Navi Mumbai, Bengaluru, Pune, Hyderabad and Chennai. These cities have limited organized retail stock and continue to witness strong demand fundamentals as domestic and international retailers expand their businesses even as future supply of retail space is expected to remain constrained. 

Business area of the company

The company has emerged over the period as the largest consumption centre platform in India.

The company’s portfolio includes:

• Nexus Ahmedabad One
• Nexus Amritsar
• Nexus Celebration, Udaipur
• Nexus Indore Central
• Treasure Island, Indore
• Nexus Seawoods, Navi Mumbai
• Nexus Westend Complex, Pune
• Fiza by Nexus, Mangaluru
• Nexus Centre City, Mysuru
• Nexus Elante Complex, Chandigarh
• Nexus Esplanade, Bhubaneswar
• Nexus Hyderabad, Hyderabad
• Nexus Vijaya Complex, Chennai
• Nexus Whitefield, Bengaluru
• Nexus Koramangala, Bengaluru
• Nexus Shantiniketan, Bengaluru
• Select CityWalk, Delhi