CapitaLand India Trust - DBS Research 2024-07-31: True Strength & Potential Emerge

CapitaLand India Trust - True Strength & Potential Emerge

Published:
CapitaLand India Trust (SGX:CY6U) | SGinvestors.ioCapitaLand India Trust (SGX:CY6U)

8% y-o-y growth in 1H24 DPU is one of the strongest in the sector

  • - Read this at SGinvestors.io -
  • Gross revenues and net property income in S$ terms rose by 24% y-o-y and 21% y-o-y to S$136.1mil and S$103.5mil respectively. This is due to higher rental achieved across the portfolio, income contribution from acquisitions - aVance II, Pune, Industrial facility, Mahindra World City, ITPH Block A and ITPP-H.
  • Net property income margins remained fairly stable at ~76% in 1H24 (vs 77% in 1H23).
  • - Read this at SGinvestors.io -

Our view

  • A strong 1H24 supported by stable S$-INR exchange rate gives us with confidence that CapitaLand India Trust is back on the growth path, with expected 8% CAGR in DPU over FY24-25F. This is aided by the strong pipeline of inorganic and organic growth drivers.
  • We see CapitaLand India Trust hitting FY24-25F yields of 7.0%-7.3% at the current CapitaLand India Trust share price, with more upside if acquisitions materialise.

Operational outlook remains robust on strong positive reversions.

  • Read more at SGinvestors.io.




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




Derek TAN DBS Group Research | Dale LAI DBS Research | https://www.dbs.com/insightsdirect/ 2024-07-31



Read also DBS's most recent report:
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 Dividends & Corporate Actions,
CapitaLand India Trust News Articles





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