Ascendas India Trust NPI up 18% to $39m in Q2

Distribution per unit (DPU) grew by 15% YoY to 2.28 cents.

Ascendas India Trust (a-iTrust) saw net property income (NPI) grow 18% YoY to $39m for 2Q FY2019 due to rental income and reversions and the reduction of the Minimum Alternative Tax (MAT), according to a press release.

Total property income rose by 10% to $49.95m (INR2.6b) for 2Q FY 20129. Distribution per unit (DPU) also grew 15% YoY to 2.28 cents in the same period.

Property expenses decreased by 12% to $10.6m (INR545m) due to a one-off provision for a water supply and sanitary charges in its International Tech Park Bangalore property for 2Q FY2018/2019.

Overall committed occupancy rate remained strong at 99% as of September 30 this year.

Incremental rental income from Anchor building and aVance business hub contributed to the quarterly NPI boost , as well as the decrease in total property expenses by 12% to $10.46m (INR545m), said CEO Sanjeev Dasgupta.

Photo courtesy of Wikimedia Commons.