CapitaLand India Trust - OCBC Investment 2024-10-25: Data Centre Development On The Horizon

CapitaLand India Trust - Data Centre Development On The Horizon

Published:
CapitaLand India Trust (SGX:CY6U) | SGinvestors.io
  • CapitaLand India Trust’s 9M24 total property income and NPI rose by 19% and 18% y-o-y to S$204.9m and S$156.6m, respectively. Both total property income and NPI account for ~72% of our forecast.

3Q24 results rose on the back of acquisitions

  • - Read this at SGinvestors.io -
  • Portfolio occupancy dipped by 2 percentage points (ppt) to 94% when excluding newly acquired properties, due to some tenant non-renewals. Nonetheless, management remains confident in their ability to re-lease these spaces given the strong demand.
  • - Read this at SGinvestors.io -

Strong leasing demand from the IT/ITES segment

  • CapitaLand India Trust recorded positive reversions for ITPB (8%), ITPC (6%), Cybervale (8%), ITPH (4%), and CyberPearl (5%), while it reported negative reversions for aVance Hyderabad (-1%) and aVance I, Pune (-1%), primarily due to rent-free periods.
  • We expect continued resilience and growth in India's office market due to several factors:
    1. the sustained rate easing cycle in the US driving capital deployment in India,
    2. the ongoing inflow of global capability centres (GCCs), and
    3. a robust domestic economy fuelling growth in domestic firms, leading to increased space take-up.

Termination of the master agreement for 7 warehouses

  • 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/ 2024-10-25



Previous report by OCBC:
2024-07-30 CapitaLand India Trust - Steady Growth Plans With Strong Economic Backdrop.

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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