CapitaLand India Trust - DBS Research 2024-01-30: Forex Hurdles A Temporary Blip

• CapitaLand India Trust (SGX:CY6U)'s FY23 DPU of 6.5 cents (-20% y-o-y) was below ours and street projections. The miss was largely contributed from
  1. weaker than projected S$-INR rate of 61 in 2H23, and
  2. - Read this at SGinvestors.io -

Outperformance held back by weak S$INR exchange rate

• In INR terms, CapitaLand India Trust's revenues and net property income (“NPI”) came in 21% and 17% higher y-o-y to INR 7,582m and INR 5,768m respectively. Due to the ~8.7% variance in the INR rate, revenues and NPI in S$ terms rose by a smaller 11% and 8% respectively to S$ S$234.1m and S$179.6m.
• Growth was largely acquisition driven with contributions from Arshiya Warehouse 7, ITPH Block A and ITPP-H on the back of higher rents achieved across its portfolio.
• - Read this at SGinvestors.io -

Financial metrics strengthened post fundraising.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-02-04 CapitaLand India Trust - Accelerating Earnings On Data Centre Upside, Rapid Growth Ahead.

Previous report by DBS:
2024-10-25 CapitaLand India Trust - Powering Ahead; Robust Operational Performance..

Price targets by other brokers at CapitaLand India Trust Target Prices.

Listing of research reports at CapitaLand India Trust Analyst Reports.

Relevant links:
CapitaLand India Trust Share Price History,
CapitaLand India Trust Announcements,
CapitaLand India Trust Dividend Payout Dates & Corporate Actions,
CapitaLand India Trust News