CapitaLand India Trust Q1 net property income up 8% at 3.8 billion rupees

[SINGAPORE] Net property income (NPI) for CapitaLand India Trust (Clint) rose 8 per cent on the year to 3.8 billion rupees (S$53.4 million) for its first quarter ended Mar 31, 2026.

For the quarter, total property income rose 3 per cent year on year to 4.9 billion rupees, the manager said on Friday (Apr 24).

Despite the gains in rupee terms, the trust’s total property income fell 8 per cent on the year to S$69 million in Singapore dollar terms, and NPI dropped 3 per cent. This was due to foreign-exchange movements.

The improvements in rupee terms were driven by the sustained performance of the trust’s existing properties, alongside contributions from new developments such as MTB 6 at International Tech Park Bangalore.

The partial handover of CapitaLand Data Centre Navi Mumbai Tower 1 in July 2025 also contributed to the results, the manager said.

An advanced distribution of S$0.0144 for Jan 1 to Mar 4 was paid on Apr 10.

Clint posted 91 per cent occupancy for the period, with a positive rental reversion of 17 per cent.

Its average cost of debt stood at 5.7 per cent as at Mar 31, compared with 5.6 per cent as at Dec 31, 2025.

Its gearing ratio came in at 35.7 per cent as at March, down from 39.6 per cent as at December.

Units of Clint closed Thursday 1 per cent or S$0.01 higher at S$1.05.