1. Portfolio expansion to 20 msf via Sponsor pipeline - The Sponsor is working to expand the portfolio to 20 million sq. ft. from the current 10.6 msf, with the Trust holding a Right of First Offer on the Sponsor's acquisition pipeline. This nearly doubles the Trust's leasable area using a pre-identified pipeline without the uncertainty of open-market sourcing.
2. Under-development assets nearing operationalisation - 14.46 million sq. ft. of under-development assets were 42% pre-leased as of March 31, 2026, with management targeting operationalisation of the entire existing portfolio in the next few months. These assets convert capex into rent-paying area immediately, lifting NOI with limited additional cost.
3. ₹830 crore NCD refinancing at 7.42% fixed for 20 years - The Trust placed ₹830 crore of AAA-rated NCDs in January 2026 at a fixed 7.42% coupon maturing in 2046, refinancing nearly 80% of floating-rate liabilities into long-term fixed-rate debt. The fixed-rate structure locks in a predictable interest cost and extends maturity to 20 years, materially de-risking cash flows against rate cycles.
4. NSE listing unlocks capital access - The Trust listed on the NSE on July 8, 2025, raising ₹1,050 crore in primary proceeds used to repay SPV and Sponsor debt. The listed platform provides a recurring equity-raising avenue to fund future acquisitions without relying solely on debt.
5. 98% portfolio occupancy with contractual escalations - Average occupancy across the 92.49 lakh sq. ft. operational portfolio exceeded 98% as of March 2026, with leases carrying built-in rental escalation clauses and lock-in provisions. Near-full occupancy with automatic rent step-ups provides visible, compounding revenue growth from the existing asset base.
6. Multi-park tenant relationships deepen stickiness - Approximately 23% of tenants occupy space across two or more facilities, with industrial tenants carrying a weighted average lease expiry of over 9 years. Multi-park relationships raise switching costs and extend lease durations, supporting stable occupancy and reducing re-leasing risk.