NTT DC REIT posted distributable income of US$57.52 million for the financial year ended Mar 31 2026 (FY25/26), 2.5% above its initial public offering (IPO) forecast, as higher‐than‐expected leasing and power-related revenue offset a marginal rise in property expenses.

Gross revenue rose to US$164.82 million; a year-on-year comparison is not applicable because FY25/26 is the Singapore-listed data-centre trust’s inaugural reporting period. The manager declared a maiden distribution per unit (DPU) of 5.56 US cents, 2.6 per cent higher than the IPO projection of 5.42 US cents. The cash payout will be made on Jun 29 2026, with the units trading ex-distribution from May 19 2026.

Colocation and power services, together with additional tenant fit-out works at the US facilities, drove the revenue outperformance, lifting net property income to US$74.93 million—2.3 per cent above forecast. Net finance costs eased 3.3 per cent to US$14.87 million, cushioning the impact of higher repair and maintenance charges.

Aggregate leverage improved to 29.2 per cent as at Mar 31 2026, from 32.5 per cent three months earlier, aided by stable cash generation. About 70 per cent of borrowings are on fixed rates, with no debt maturities in the next two fiscal years and all assets unencumbered. The portfolio’s valuation climbed 11.3 per cent from its IPO purchase cost to US$1.67 billion, reflecting rental reversions and market strength.

Chief executive officer Yutaka Torigoe attributed the better-than-forecast debut to “focused execution and proactive asset management”, noting that a 23 per cent rent uplift on the renewed master services agreement at the SG1 facility and an 8.5 per cent portfolio rental reversion underpinned income growth. He indicated that the REIT will pursue “disciplined growth” supported by a pipeline of data-centre assets from sponsor NTT Limited.

Looking ahead, the manager expects sustained demand across its key markets—Northern Virginia, Northern California, Vienna and Singapore—as power and land constraints curb new supply. Industry consultants DC Byte and CBRE forecast tightening vacancies and mid-single to low-double-digit rental growth through 2026, trends the manager believes will support further DPU expansion even amid geopolitical and capital-market uncertainties.