CapitaLand India Trust reports 2HFY2022 DPU of 3.91 cents, 9% higher y-o-y

CapitaLand India Trust (CLINT) reported a higher Distribution per Unit (DPU) of 3.91 cents for its 2HFY2022 ended Dec 31, 2022, at 9% higher than the same period the year before at 3.60 cents. This brings the DPU for FY2022 to 8.19 cents, a 5% increase from FY2021’s 7.80 cents. This is attributed to higher portfolio occupancy and income contribution from acquisitions.

Total property income for 2HFY2022 stood at INR4.78 billion ($76.5 million), an 11% increase year-over-year, bringing total property income for the entire year to INR11.9 billion. This can be attributed to the higher income from the various newly-acquired assets such as aVance 6 in Hyderabad, Building Q1 in Aurum Q Parc at Navi Mumbai, Arshiya Warehouse 7, and Industrial Facility in Mahindra World City in Chennai.

On the other hand, total property expenses rose by 22% to INR2.5 billion, mainly due to increased operational and maintenance expenses, and property management fees for existing and newly-acquired properties.

The committed portfolio occupancy of CLINT as of Dec 31, 2022 was 92% while its assets under management was recorded to be at $2.5 billion. Its gearing ratio was 37%.

CLINT’s CEO Sanjeev Dasgupta looks forward to the completion of the proposed acquisition of International Tech Park Pune – Hinjawadi 5 which he believes will contribute to boosting stable returns for unitholders.

Moreover, CLINT plans to develop two additional data centres in Hyderabad and Chennai on top of the existing ones in Mumbai and Bangalore. This is believed to position CLINT for further growth in the 2023 Senja Close EC financial year.

Units in CLINT on Feb 6 closed flat at $1.19.