NDR InvIT, the first Perpetual Warehousing and Industrial Parks InvIT, listed on the National Stock Exchange, reported audited results for the fourth quarter and full year ended March 31, 2024 on 24th May 2024.
NAV* at Rs 126.29 as on 31st March 2024. Declared distribution of Rs 1 per unit to all the unit holders for the period 8th Feb 2024 (date of acquisition) to 31st March 2024 Assets Under Management stood at 17 msf across India, and it plans to add 3.00 msf in FY25. Trust assigned ‘CARE AAA, Stable’ and ‘IND AAA, Stable’ issued by CARE Ratings Ltd and India Ratings and Research (FITCH Group) respectively.
NAV calculated at Fair Value – investment properties have been fair valued by an independent valuer as per SEBI (Invit) Regulations, 2014, as amended.
NDR InvIT Trust was registered on 27th March 2023, commenced operations on 8th Feb 2024 and subsequently listed on 14th Feb 2024. Since the Trust got listed on February 14, 2024, the comparative figures for the year, half year and quarter ended March 31, 2024 are not applicable
Krishnan Iyer, Chief Executive Officer of NDR InvIT, said, “I would like to extend my gratitude to the stakeholders for their continued faith, and the listing of the Units last quarter was a significant milestone. The AUM currently stands at 17 msf via a diversified Clientele across various sectors, a healthy WALE, and 96% Occupancy levels. Our plan for fiscal ’25, is to add 3 msf, whilst at the same time maintain healthy Operating, Financial metrics, and the AAA rating status.”
The Total lease warehouses - Grade A – 15.46 msf, Grade B – 1.5 MSF. Occupancy of 96% pan India: Top 10 client’s accounts for 42% of total gross leasing, with a Weighted Average Lease Expiry of 11.7 years.
Revenues of Rs. 427 mn for the period, are in-line with management projections, and so are NOI, EBIT, which has helped the InvIT to declare a dividend. NDR InvIT is rated AAA/Stable by both CARE, and India Ratings (FITCH).
NDR InvIT plan to add the next 3msf across Chennai, NCR, Goa, Sricity, Pune, Bengaluru and Chatrapathi Sambaji Nagar (Aurangabad).
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