Ascendas India Trust Q1 DPU rises 28% to 2.05 S cents

ASCENDAS India Trust on Thursday posted a 28 per cent jump in distribution per unit (DPU) for the first quarter ended June 30.

DPU rose to 2.05 Singapore cents, while net property income increased 13 per cent to S$37.8 million and income available for distribution increased 29 per cent to S$23.7 million.

The improved performance was mainly due to incremental income from aVance Pune, which was leased out in phases after it was acquired in February 2017, income from Anchor building at International Tech Park Bangalore after its completion in May 2019, and positive rental reversions.

Ascendas India Trust has a portfolio of seven information technology parks and one logistics park in India, with a weighted average lease expiry of 4.3 years and a committed portfolio occupancy of 99 per cent as at June 30.

Units of the trust ended S$0.02 or 1.52 per cent up at S$1.34 on Thursday.