CapitaLand India Trust DPU up 9% to 3.91 S cents in H2, full-year DPU up 5% to 8.19 cents
Sharon See
CAPITALAND India Trust’s (Clint) distribution per unit (DPU) rose 9 per cent to 3.91 Singapore cents in the six months ended Dec 31, 2022, its trust manager reported on Monday (Feb 6).
This brings its DPU for FY2022 to 8.19 Singapore cents, a 5 per cent increase from the year before.
Total property income for H2 grew 15 per cent to 6.2 billion rupees (S$107.3 million), resulting in a 12 per cent rise for the full year to 11.9 billion rupees. The Singapore dollar appreciated by about 3 per cent against the rupee during the year, Clint’s manager noted.
It said the increase in total property income was mainly attributable to higher portfolio occupancy and income at several buildings acquired in the last two years.
Total property expenses increased 22 per cent to 2.5 billion rupees, mainly due to higher operational and maintenance expenses and property management fees from existing and newly acquired properties, the manager added.
Net property income rose 11 per cent to 4.8 billion rupees for H2, while the figure for the full-year was 10 per cent higher at 9.4 billion rupees.
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Meanwhile, portfolio occupancy increased to 92 per cent, from 87 per cent the previous year, said Sanjeev Dasgupta, chief executive of CapitaLand India Trust Management.
He added that the trust’s information technology (IT) park in Chennai saw the largest recovery in occupancy during the year to 92 per cent by December last year, up from 65 per cent the year before.
As at Dec 31, the trust’s assets under management stand at S$2.5 billion, while gearing ratio was 37 per cent.
On the whole, the manager said there has been “continuous improvement” in park attendance in H2.
It is anticipating that more tenants will return to offices in the coming months.
Clint was formerly known as Ascendas India Trust until late September last year. Its portfolio includes eight IT business parks, one logistics park, one industrial facility, and three data centre developments in India.
Clint units closed flat at S$1.19 on Monday before the announcement.
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