CapitaLand India Trust (CLINT) reported a 33 percent year-on-year (YoY) jump in income available for distribution to INR 3.99 billion for the six months ended Dec 31, 2025, lifted by contributions from newly completed projects, higher occupancy and interest income from forward-purchase assets.

Total property income rose 10 percent YoY to INR 9.84 billion, translating to a distribution per unit (DPU) of 3.90 Singapore cents. The interim payout, whose record date is Feb 13 2026, will be made on Mar 19 2026. On a full-year basis, FY 2025 DPU increased 15 percent to 7.87 Singapore cents, implying a 6.5 percent yield on the Dec 31 closing price of S$1.22.

Net property income expanded 17 percent YoY to INR 7.55 billion, with the portfolio’s NPI margin improving to 76.4 percent from 74.0 percent. In Singapore-dollar terms, 2H 2025 total property income stood at S$145.1 million while NPI came in at S$111.3 million.

By segment, office and business-park assets continued to dominate earnings, supported by a 21 percent positive rental reversion and a 91 percent committed occupancy rate. Interest-bearing receivables from six forward-purchase projects climbed 25.3 percent to S$381.6 million, underpinning higher interest income. In contrast, contributions from assets earmarked for divestment—such as CyberPearl in Hyderabad and CyberVale in Chennai—eased following their September 2025 sale.

CLINT’s gearing was 39.6 percent at end-December, with 72.6 percent of borrowings on fixed rates and 53 percent hedged into Indian rupees. The trust retains debt headroom of about S$967 million. During the period it diversified funding through perpetual securities, completed its first AAA-rated onshore bond issue in January 2026 and secured INR 21 billion in sustainability-linked loans, moves expected to lower future financing costs.

Development and portfolio-recycling activities remained active. Tower 1 of CapitaLand Data Centre Navi Mumbai achieved first revenue in the third quarter, while Tower 2 has been fully leased to the same hyperscale tenant. A 20.2 percent stake in three data-centre developments is slated for divestment to CapitaLand India Data Centre Fund by end-February 2026, releasing about INR 7.02 billion for redeployment. Redevelopment of the Orion building at International Tech Park Hyderabad (1 million sq ft) and construction of MTB 7 at International Tech Park Bangalore are progressing toward 2028 and 2027 completion, respectively.

Chairman Manohar Khiatani said the 2025 performance reflected disciplined cost control, capital management and value-unlocking divestments, positioning the trust for sustained growth in 2026. Chief executive Gauri Shankar Nagabhushanam noted that portfolio efficiencies, forward purchases and debt onshoring would remain key levers for earnings resilience amid evolving market conditions.