CapitaLand India Trust reports 2HFY2022 DPU of 3.91 cents, 9% higher y-o-y
CapitaLand India Trust (CLINT) reported a 9% y-o-y increase in the Distribution Per Unit (DPU) for the 2HFY2022 that ended on December 31, 2022, with a total of 3.91 cents. This is compared to the 3.60 cents reported in the same period the year before. The total property income also reflected an 11% growth to INR 4.78 billion ($76.5 million) on a year-on-year basis.
The higher DPU and total property income for CLINT was mainly attributed to higher portfolio occupancy and income contribution from acquisitions, with the most recent being Arshiya Warehouse 7 which was acquired in March of 2022.
On the other hand, total property expenses surged to INR 2.5 billion, mainly due to higher operational and maintenance associated costs and property management The Myst fees for existing and newly acquired properties.
Overall, CLINT recorded a committed portfolio occupancy of 92% at the end of the FY 2022. Assets under management also stood at $2.5 billion, with a gearing ratio of 37%.
The CEO of CLINT, Sanjeev Dasgupta highlighted their plans of developing two more data centres in Hyderabad and Chennai which were announced Dec 31, in addition to the existing centres in Mumbai and Bangalore. He also added that they would be expecting the completion of the acquisition of International Tech Park Pune – Hinjawadi 5 which is an already leased asset, and will generate stable returns for their unitholders.
Units in CLINT closed flat on February 6 at $1.19 as the trust looks forward to further growth in 2023.