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The average rental increased from INR 17/sq. ft./ month as of 31 March 2024 to INR 18.33/ sq. ft./ month as of 31 March 2025
- The warehouse occupancy increased from 95% in FY24 to 98% in FY25
- The company added 2 more cities to its portfolio in FY25; increasing the number from 13 to 15
- The distribution for Q4FY25 increased by over 5.79% to INR 712.82mn from INR 673.75 mn in Q3 FY25.
Chennai, 27th May, 2025: NDR InvIT Trust, India’s first perpetual Warehousing and Industrial Parks InvIT Trust listed on the National Stock Exchange, today announced its financial results for the fourth quarter and full year ended 31 March 2025. At its Board meeting held on 26 May 2025, the Trust reported significant operational and financial milestones, underlining its strong and consistent performance.
The Trust’s Assets Under Management (AUM) rose by 13.32% year-on-year, reaching approximately 19.22 mn. sq. ft. as of 31 March 2025. This growth underscores NDR InvIT’s ongoing strategy of expanding its warehousing and industrial footprint across India. During the year, the Trust expanded its presence from 13 to 15 cities, further strengthening its pan-India coverage.
The Trust continues to maintain a robust and diversified portfolio, comprising 37 industrial parks and over 60 warehouses spread across 15 cities. Its top 10 clients contribute approximately 33% of the rental, providing a balanced mix of anchor tenants and industry leaders. Additionally, only 11.26% of leases are due for renewal in the second half of FY26, offering visibility into near-term revenues.
“FY25 has been a landmark year for NDR InvIT Trust as we scaled our portfolio, delivered high occupancy, and generated strong returns for our investors. With continued growth in average rentals, expansion into new markets, and prudent capital management, we are well-positioned for sustained value creation. We remain committed to strengthening India’s warehousing and logistics backbone while maximizing stakeholder value,” said Sandeep Jain, Chief Financial Officer, NDR InvIT Trust.
The Board declared a distribution of Rs. 1.80 per unit for Q4 FY25, comprising Rs. 0.72 as interest income and Rs. 1.08 as return of capital. The record date for the distribution is set on or before 4 June 2025. The Net Asset Value (NAV) per unit stood at Rs. 135.52 as of 31 March 2025. The Trust continues to operate with a low loan-to-value (LTV) ratio, highlighting its prudent financial management and a strong balance sheet.
| Particulars (Consolidated) | Q4-FY25
(Rs. Mn) |
FY25
(Rs. Mn) |
| Revenue from Operations | 945.38 | 3,241.10 |
| Gain on Investments | 68.84 | 76.21 |
| Interest Income | 30.45 | 57.16 |
| Other Income | 2.57 | 9.05 |
| Total Income | 1,047.25 | 3,383.52 |
| Operating Earnings before Interest Depreciation and Amortization (EBITDA) | 823.05 | 2,816.99 |
| Profit after Tax (PAT) | 331.31 | 1,367.30 |
* On total income
Financial Highlights:
- Recorded Revenue from Operation of INR 945.38 mn in Q4 FY25 and INR 3,241.10 mn in FY25
- Low Loan (net)-to-value (LTV) of 15.8% indicating balance sheet strength
- Operating EBITDA stood at INR 823.05 mn in Q4 FY25 and INR 2816.99 mn FY25
Distribution:
- Distribution for Q4 FY25 is INR 712.82 mn and for FY25 is INR 2,374.07 mn
- Declared distribution of Rs. 1.80/unit (Rs. 0.72 as Interest and Rs. 1.08 as return of capital) per unit to the unit holders for Q4 FY25
- Record date for the distribution is on or before 04th June, 2025
