CapitaLand India Trust posts 1HFY2024 DPU of 3.64 cents, up 8% y-o-y

Khairani Afifi Noordin
2-min read

Total property income and net property income for the period grew by 23% and 21% y-o-y respectively.

The manager of CapitaLand India Trust Cy6u (CLINT) has announced a DPU of 3.64 cents for its 1HFY2024 ended June, up 8% y-o-y from the 3.36 cents reported in the previous corresponding period.

Total property income and net property income for the period grew by 23% and 21% y-o-y to $136.1 million and $103.5 million respectively.

The growth was mainly on the back of income contribution from Block A in International Tech Park Hyderabad which was completed in January 2023; International Tech Park Pune - Hinjawadi which was acquired in May 2023; Industrial Facilities 2 and 3 at Mahindra World City, Chennai which was acquired in December 2024; aVance II Hinjawadi, Pune, which was acquired in February 2024; as well as higher rental income of existing properties.

Total property expenses grew by 31% y-o-y to $32.5 million. This was mainly due to higher property taxes, operations and maintenance expenses, as well as other property operating expenses from existing and newly acquired properties.

As at June 30, CLINT’s portfolio occupancy stood at 96%. The trust’s assets under management grew to $3.2 billion, while its gearing ratio stood at 38.1%. Including cash and cash equivalents of $95 million, the gearing was 36.5%.

CLINT's completed floor area stood at 21.0 million sq ft as at end-June, following the addition of aVance II in March 2024. Construction activities for existing projects, including the trust’s committed forward purchase pipeline, are progressing as scheduled. CLINT's total development potential stands at 7.1 million sq ft.

Units in CLINT closed 2 cents higher or 2% up on July 29 at $1.06.

 

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