For 2HFY2022, total property income was INR4.78 billion ($76.5 million), an increase of 11% year over year

Read also: In 4Q2022, sales of real estate investments dropped by 22% year over year to $4.5 billion

The administrator of CapitaLand India Trust (CLINT) has announced the dividend per unit (DPU) of 3.91 cents for the 2HFY2022 that closing on December 31, 2022. That’s 9% more than its DPU figure of 3.60 cents for the same timeframe the year prior.

DPU for FY2022 increased by 5% year-over-year to 8.19 cents, up from 2021’s 7.80 cents. The higher DPU is mostly due to higher ratio of portfolio occupancy as well as the income that comes from acquisitions.

The total property income for the 2HFY2022 year was in the range of INR4.78 billion ($76.5 million) 11% higher than the prior year, leading to total property earnings in the range of INR11.9 billion in the entire year.

The reason for this was the higher occupancy of the portfolio and the income generated from the AVance 6 in Hyderabad which the trust bought in the month of Mar 2021; Building Q1 at Aurum Q Parc at Navi Mumbai that it acquired in Nov 2021. Arshiya Warehouse 7 it purchased in March 2022 as well as Industrial Facility in Mahindra World City, Chennai which it bought in May 2022.

Total property expenses rose to 22.2% in the range of INR2.5 billion, mostly due to increased operating and maintenance costs and property management costs from newly purchased and existing properties.

CLINT had a committed to a portfolio occupancy rate of 92% as of December 31, 2022. The funds under the trust were $2.5 billion. The gearing percentage was at 37%.

The CEO of the manager Sanjeev Dasgupta highlights the plans to build two additional data centers at Hyderabad and Chennai that it announced on December 31st, along with Mumbai as well as Bangalore.

“We currently have an data center platform that is located in the most prime locations of India’s four largest data centres. We also anticipate the finalization purchase of International Tech Park Pune – Hinjawadi 5.

“This is an asset that is completely leased which will provide the steady returns of our unit holders. We believe that the acquisitions we made and announced in the course of this year will position CLINT to grow further through 2023.” the CEO says.

The units in CLINT were sold flat on February 6 for $1.19.