Nexus Select Trust · NSE:NXST.RR
Nexus Select Trust — Q2 FY26 Earnings Presentation
39 slides from Nexus Select Trust's earnings presentation, Nov 4, 2025
Slide 1: Exchange intimation letter for press release and earnings presentation
November 04, 2025 To, The Corporate Relations Department, The Corporate Relations Department, The National Stock Exchange of India Limited, Department of Corporate Services, Exchange Plaza, 5th Floor, BSE Limited, Plot No. C/1, G-Block, Bandra-Kurla Complex, 25th Floor, Phiroze Jeejeebhoy Towers, Ba
Slide 2: Press Release: Nexus Select Trust Accelerates Growth in Q2 FY26
Annexure I Nexus Select Trust Accelerates Growth in Q2 FY26; Delivers 16% consumption surge, 14% NOI growth and 10% rise in distribution Mumbai, India, 04 November 2025: Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed Retail REIT, announced its financial results for the quarter en
Slide 3: Changes in the Board Composition
Changes in the Board Composition Mr. Tuhin Parikh – Chairman and Non-Executive Non-Independent Director at Nexus Select Trust has decided to step down as a Director with effect from 4th November 2025. Mr. Parikh has been instrumental in setting up the Nexus Select Trust as India’s first retail focus
Slide 4: Disclaimer
Disclaimer This press release is prepared for general information purposes only and has to be read along with the presentation for earnings update. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verifie
Slide 5: Nexus Select Trust Q2 FY26
Annexure II Nexus Select Trust Q2 FY26 Earnings Update November 04, 2025
Slide 6: Disclaimer
DISCLAIMER This presentation is issued by Nexus Select Mall Management Private Limited (the “Manager”) in its capacity as the Manager of the Nexus Select Trust, for general information purposes only, without regards to the specific objectives, financial situation or requirements of any particular pe
Slide 7: Table of Contents
TABLE OF CONTENTS I. Key Highlights 3 II. Retail Update 8 III. Marketing Update 13 IV. Hospitality & Office 17 V. Financial Update 19 VI. Sustainability Initiatives 24 VII. Appendix 27 2 2
Slide 8: (I) Key Highlights
(I). KEY HIGHLIGHTS Nexus Vega City, Bengaluru
Slide 9: Key Highlights (Q2 FY26)
KEY HIGHLIGHTS (Q2 FY26) CONSUMPTION GROWTH LEASING RETAIL NOI GROWTH Strong consumption growth of 16% YoY; Maintained leased occupancy of 97% for Robust NOI growth of 14% YoY; growth momentum continues in Oct’25 continuously 10 quarters since listing 8% YoY LFL growth (Amount in INR Bn) (Amount in
Slide 10: Consumption Growth (Q2 & H1 FY26)
CONSUMPTION GROWTH (Q2 & H1 FY26) Robust consumption growth of 16% YoY in Q2 FY26 driven by key categories like Fashion, Jewellery, Beauty & Personal Care, Entertainment and Electronics Growth momentum continues in October with double-digit consumption growth Consumption (Amount in INR Bn) 34.6 67.6
Slide 11: Acquired Assets Performance
ACQUIRED ASSETS PERFORMANCE Leveraging our proven integration playbook, Vega City and MBD Neopolis are set to deliver exceptional growth and value Nexus Vega City and Nexus MBD Neopolis witnessed consumption growth of 20% and 11% respectively in Q2 FY26 Independence Day Celebration (Nexus Vega City)
Slide 12: Consolidated Financial Performance (Q2 FY26)
CONSOLIDATED FINANCIAL PERFORMANCE (Q2 FY26) Delivered robust NOI growth of 14% YoY (8% YoY LFL) in Q2 FY26; on track to achieve FY26 NOI and Distribution guidance INR 6,309 M INR 4,675 M INR 4,475 M Revenue from Operations NOI EBITDA 14% INR 2.198 100% YoY NOI Growth Distribution Per Unit NDCF Payo
Slide 13: (II) Retail Update
(II). RETAIL UPDATE Nexus Select Citywalk, Delhi
Slide 14: Retail Supply, Absorption and Vacancy Trends Across Nexus Portfolio Cities
RETAIL SUPPLY, ABSORPTION AND VACANCY TRENDS ACROSS NEXUS PORTFO LIO CITIES Modest Grade-A supply over the next three years driving a 120bps decline in vacancy(1) to 6.2% by 2028 Grade-A Supply, Absorption and Vacancy(1) trends for NXST portfolio cities (Area in M sf and Vacancy in %) 6.5 10.0% 9.0%
Slide 15: Favorable Retail Demand-Supply Dynamics
FAVORABLE RETAIL DEMAND – SUPPLY DYNAMICS Retail demand – supply dynamics remains favorable for Nexus with demand being 2x of overall supply till 2028 NXST remains the favored partner for international brands looking to enter India India Retail Demand – Supply till 2028 International Brands Opened S
Slide 16: Robust Leasing
ROBUST LEASING Continued to re-lease at 20% spreads; ~50% of gross rental expiring during H2 FY26 - FY29 with 20% MTM potential Q2 FY26 Updates Area Expiring (M sf) 96.9% 95.3% 1.3 Leased Occupancy Trading Occupancy 1.1M sf Average 1.1 0.9 0.31M sf 217 0.5 Leased Total Deals H2 FY26 FY27 FY28 FY29 0
Slide 17: New Offerings at Nexus Select Trust
NEW OFFERINGS AT NEXUS SELECT TRUST Athletifreak (Nexus Select Citywalk) Indriya (Nexus Elante) Decathlon (Nexus Ahmedabad One) Onitsuka Tiger (Nexus Select Citywalk) 12 12
Slide 18: (III) Marketing Update
(III). MARKETING UPDATE 13 Nexus Hyderabad, Hyderabad
Slide 19: High Engagement Ticketed Experiences
HIGH ENGAGEMENT TICKETED EXPERIENCES Introduced unique and high-engagement ticketed experiences across our malls to enhance customer footfall and dwell time City Under Sieze (Nexus Hyderabad) Velocity (Nexus Seawoods) Thrillscape (Nexus Koramangala) Thrillscape (Nexus Koramangala) 14 14
Slide 20: Festival Celebrations
FESTIVAL CELEBRATIONS Transformed our malls into vibrant celebration hubs during festives augmenting footfalls Independence Day Celebration (Nexus Shantiniketan) Navratri Celebration (Nexus Koramangala) Dussehra Celebration (Fiza By Nexus) Onam Celebration (Nexus Shantiniketan) 15 15
Slide 21: NexusONE App
NEXUSONE APP Empowering customers with personalized offers, updates and rewards through the NexusONE App Launched NexusONE App in Nexus Vega City in Q2 FY26 App Launched Tenant Sales (Number of Malls) (Amount in INR Bn) 1.3x 16 1.8x 3.2 12 1.8 Sep-24 Sep-25 Q2 FY25 Q2 FY26 App Sign-ups Customer Repe
Slide 22: (IV) Hospitality & Office
(IV). HOSPITALITY & OFFICE Hyatt Regency, Chandigarh
Slide 23: Hospitality and Office Snapshot (Q2 FY26)
HOSPITALITY AND OFFICE SNAPSHOT (Q2 FY26) (9% of GAV) (1) Robust growth witnessed in Hospitality and Office portfolio HOSPITALITY (450 Keys / 3 Assets) OFFICE (1.3M sf / 3 Assets) Hyatt Regency, Chandigarh Westend Offices, Pune 70% INR 8,672 88% 3.1 Years Occupancy ADR Occupancy WALE INR 410 M INR 1
Slide 24: (V) Financial Update
(V). FINANCIAL UPDATE Nexus Vijaya, Chennai
Slide 25: NDCF Walkdown
NDCF WALKDOWN Declared distribution of INR 3,330 M / INR 2.198 per unit for Q2 FY26; representing ~100% NDCF payout ratio for 9th consecutive quarter (INR M) Particulars Q2 FY26 (1) Revenue from Operations 6,348 NOI Direct Operating Expenses (1,541) Property Taxes and Insurance (131) Net Operating I
Slide 26: Distribution Summary
DISTRIBUTION SUMMARY Distributed INR 3,330 M / INR 2.198 per unit in Q2 FY26; up by 10% YoY Distribution Highlights Distribution Mix Distribution Period 1st Jul’25 to 30th Sep’25 Amortization of SPV Debt 15.4% Other Income Distribution Amount (M) INR 3,330 0.2% Interest 28.3% Outstanding Units (M) 1
Slide 27: Active Debt Management
ACTIVE DEBT MANAGEMENT Robust Balance Sheet with LTV < 20% and ~$1 Bn debt headroom to fund future inorganic growth Debt Maturity Profile INR 51 Bn (Amount in INR M) REIT level debt SPV level debt Net Debt(1) 457 8,034 210 7,000 6,720 18% 3,500 LTV(1)(2) 728 1,124 H2 FY26 FY27 FY28 FY29 FY30 AAA / S
Slide 28: Debt Profile
DEBT PROFILE NXST to benefit from future rate cuts with 51% floating debt composition REIT/ SPV Debt Composition Fixed/ Floating Debt Composition REIT Level Debt 69% Floating Debt (vs 57% Sep’24) 51% (vs 69% Sep’24) Gross Debt Gross Debt INR 58 Bn INR 58 Bn SPV Level Debt 31% (vs 43% Sep’24) Fixed D
Slide 29: (VI) Sustainability Initiatives
(VI). SUSTAINABILITY INITIATIVES 4.2MW Hybrid Park, Rajkot
Slide 30: Focused ESG Initiatives
FOCUSED ESG INITIATIVES Our sustainability initiatives are designed to bring positive impact to stakeholders, community and the environment Committed to achieve “Net Zero” for Scope 1 & Scope 2 emissions by 2030 60MW + Run For Happyness 2nd in Asia Amongst Renewable Energy Lake Rejuvenation Across 6
Slide 31: ESG Initiatives
ESG INITIATIVES 1.0MW Rooftop Solar (Nexus Hyderabad) Lake Rejuvenation, Hyderabad Distributed 800k+ Sanitary Pads Best Out of Waste under “Happyness for Her” Campaign 26 26
Slide 32: (VII) Appendix
(VII). APPENDIX Nexus Shantiniketan, Bengaluru
Slide 33: Portfolio Overview (Sep'25)
PORTFOLIO OVERVIEW (SEP’25) India’s first retail REIT and leading Grade-A Consumption centre platform 19 10.6M sf Consumption Centres Retail Portfolio Across 15 Cities 96.9% 3,000+ Amritsar Ludhiana Chandigarh Delhi Leased Retail Stores with Occupancy(1) 1,000+ Brands Udaipur Ahmedabad Indore 11.7%
Slide 34: Key Asset Summary
KEY ASSET SUMMARY Nexus Nexus Select Nexus Nexus Ahmedabad Nexus Nexus Nexus Particulars Citywalk Elante Seawoods One Hyderabad Vijaya Shantiniketan Operational Metrics Leasable Area (M sf) 0.5 1.3 1.0 0.9 0.8 0.7 0.6 Leasing Occupancy (%) 99% 98% 98% 97% 99% 99% 98% Trading Occupancy (%) 95% 94% 98
Slide 35: Value Breakdown
VALUE BREAKDOWN 100% completed portfolio with retail focus and geographic diversification GAV Break-up by Segment(1) GAV Break-up by Region(1) Solar 0.2% East North Hospitality 3.8% 42.3% 3.5% Commercial Offices 5.6% GAV GAV INR 293 Bn South INR 293 Bn 28.7% Retail 90.7% West 25.2% (1) Based on Sep’
Slide 36: Independent Valuation (as on September 30, 2025)
INDEPENDENT VALUATION (AS ON SEPTEMBER 30, 2025) (INR M) Gross Asset Value Asset As of Sep'25 Nexus Select Citywalk 48,607 Net Asset Value Nexus Elante 48,419 (INR per unit) Nexus Seawoods 26,831 Nexus Ahmedabad One 19,734 Nexus Hyderabad 19,228 159 Nexus Vijaya 15,112 Nexus Esplanade 11,061 Nexus K
Slide 37: Unitholding Pattern (Quarter Ended September 30, 2025)
UNITHOLDING PATTERN (QUARTER ENDED SEPTEMBER 30, 2025) Unitholding Pattern Increase in Unitholders Base (% stake) (#) Other Pre-IPO Select Group Shareholders 24.9% 11.4% 57k Public 51k Sponsor Group 41.4% 22.3% 47k Diversified Public Unitholding Pattern (% stake) Others(2) 6.4% Retail Individuals 9.
Slide 38: Key Terms and Definitions
KEY TERMS AND DEFINITIONS Notes: agreed with the tenant(s) ▪ All figures in this presentation are as of September 30, 2025 unless otherwise specified 20. Minimum Guaranteed Rent - Minimum guaranteed rental income (as defined above) / Occupied ▪ Some of the figures in this presentation have been roun
Slide 39: Thank You
THANK YOU Pratik Dantara Website: www.nexusselecttrust.com Chief Investor Relations Officer and Head - Strategy Email: IR@nexusselecttrust.com Phone: +91-22-6280-5000 Manish Baid 34 34 DGM - Investor Relations