New buildings, rent increases lift Ascendas India Trust's Q3 DPU

Singapore

ADDITIONAL income from two new buildings - an IT park in Chennai which was acquired in March 2016 called CyberVale 3, and the recently completed Victor building at the International Tech Park Bangalore - coupled with rental increases at existing properties boosted Ascendas India Trust's third-quarter performance.

On Tuesday, the business trust reported a 5 per cent increase in distribution per unit (DPU) to 1.42 Singapore cents for the three months ended Dec 31, 2016. Total property income rose 5 per cent to S$39.3 million, while net property income rose 7 per cent to S$26.4 million.