CapitaLand India Trust (CY6U) released its first-quarter 2026 business update on Apr, 24 2026.

The trust posted total property income of 69.0 million Singapore dollars, down 8% year-on-year, while net property income declined 3% to 53.4 million Singapore dollars. In Indian rupee terms, total property income rose 3% to 4.88 billion rupees and net property income increased 8% to 3.78 billion rupees.

Committed portfolio occupancy stood at 91%, trailing-twelve-month rental reversion was positive 17%, and the average cost of debt inched up to 5.7%. The trust’s gearing ratio improved to 35.7% as at Mar, 31 2026.

Operationally, the trust signed a second long-term lease with a global hyperscaler for Tower 2 of CapitaLand Data Centre Navi Mumbai. It also completed the divestment of a 20.2% interest in three data-centre developments on Feb, 27 2026, receiving total consideration of 7.0 billion rupees (99.7 million Singapore dollars).

On the capital front, CapitaLand India Trust raised approximately 150 million Singapore dollars via a private placement of 124.2 million new units on Feb, 24 2026 to fund forward purchases, including the Ebisu and MAIA projects. An advanced distribution of 1.44 Singapore cents per unit for the period from Jan, 1 to Mar, 4 2026 was paid on Apr, 10 2026.

The trust reiterated its strategy to increase onshore Indian-rupee debt to between 40% and 50% of total borrowings over the next few years to enhance its natural currency hedge; Indian-rupee loans accounted for 54% of total debt at quarter-end.