111 views
Logo from CapitaLand India Trust.

CapitaLand India Trust net property income up 5% YoY in Q1

Its total property income rose 8% due to higher occupancy, amongst others.

CapitaLand India Trust (CLINT) reported a 5% year-on-year (YoY) growth in net property income to reach $42m in the first quarter of 2023.

In a bourse filing, CLINT said the rise in net property income was boosted by the 8% YoY increase in the total property income but was partially offset by the rise in total property expenses.

Its total property income rose to $53.6m on the back of higher occupancy and additional contributions from the Arshiya Warehouse 7, Industrial Facility at MWC and Block A, and other income.

READ MORE: CapitaLand Ascott Trust’s gross profit grew nearly 60% YoY in Q1

The company has a total floor area of 16.9 million square feet (sq ft) and a committed portfolio occupancy of 92%.

The development in its portfolio included the completion of the construction of the first phase of redevelopment at the International Tech Park Hyderabad in January 2023. The Grade A IT Building spans 1.38 million sq ft.

CLINT added that the acquisition of the 2.3 million sq ft Internationa Tech Park Pune-Hinjawadi was also approved by the unitholders on 17 April 2023. The transaction is expected to be completed within the first half of 2023.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!