CapitaLand India Trust - OCBC Investment 2024-07-30: Steady Growth Plans With Strong Economic Backdrop

CapitaLand India Trust - Steady Growth Plans With Strong Economic Backdrop

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CapitaLand India Trust (SGX:CY6U) | SGinvestors.ioCapitaLand India Trust (SGX:CY6U)
  • CapitaLand India Trust (SGX:CY6U)'s 1H24 total property income and net property income (NPI) rose by 23% and 21% y-o-y to S$136.1m and S$103.5m, respectively. This was primarily driven by contributions from acquisitions and developments.

1H24 DPU exceeded expectations.

  • - Read this at SGinvestors.io -
  • - Read this at SGinvestors.io -
  • CapitaLand India Trust was also assigned its first-time Long-term Issuer Default Rating of “BBB-” with a stable outlook by Fitch Ratings, which can potentially help to reduce cost of borrowings.

Strong leasing demand continues.

  • Overall committed occupancy rose by 2 ppt to 93% q-o-q. This was attributed to q-o-q improvement at aVance Hyderabad from 75% to 95% and Building Q1 from 70% to 87% offset by a slight reduction of committed occupancy from some of its properties.
  • Rental reversions remained healthy at mid-high single digits, with the exception of aVance Hyderabad and aVance I, Pune due to leasing incentives provided. Management continues to be optimistic in future rental reversions on the back of strong absorption of offices from foreign multinational companies that have started significant expansion plans in India.
  • Management also guided that it is in advanced discussion to fully lease the first phase of its Navi Mumbai data centre and targets to complete this development by 1H25.

Capital management for their growth seems more certain.

  • Read more at SGinvestors.io.




Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.




Donavan Tan OCBC Investment Research | https://www.iocbc.com/ 2024-07-30



Read also OCBC's most recent report:
2024-10-25 CapitaLand India Trust - Data Centre Development On The Horizon.

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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