CapitaLand India Trust reports net property income growth of 3% in SGD terms for 1H 2023

SINGAPORE - Aug. 2, 2023 - PRLog -- CapitaLand India Trust Management Pte. Ltd., the Trustee-Manager of CapitaLand India Trust ("CLINT" or the "Trust"), reported the results of CLINT for the first half ended 30 June 2023 ("1H FY 2023"). Total property income and net property income grew by 7% and 3% respectively year-on-year in Singapore dollar terms, while DPU for 1H FY 2023 was 3.36 Singapore cents per unit.

Mr Sanjeev Dasgupta, Chief Executive Officer said, "We are pleased to announce that CLINT's  property income grew mainly due to higher portfolio occupancy which improved from 92% from the start of the year to 94%  as at 30 June 2023. Our DPU is however lower year-on-year at 3.36 Singapore cents for 1H FY 2023 due to an enlarged unit base after the successful preferential offering in July 2023, higher finance costs and depreciation of the INR against the Singapore Dollar. Excluding the impact of the preferential offering, the INR DPU is ₹2.31 per unit which is lower by 3% on a year-on-year basis, while SGD DPU fell by 12% year-on-year to 3.76 Singapore cents due to SGD/INR currency movements.

We grew our portfolio leasable area significantly by 24% since the start of the year with the addition of Block A in International Tech Park Hyderabad ("ITPH") and acquisition of International Tech Park Pune – Hinjawadi ("ITPP-H"). We believe these additions to our portfolio will provide steady returns to our unitholders."

For full release: https://bit.ly/CLINT_1H2023