1H FY2021 Factsheet
Corporate Profile
Ascendas India Trust ("a-iTrust") was listed in August
2007 as the first Indian property trust in Asia.
Its principal objective is to own income-producing real estate used primarily as business space in India. a-iTrust may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon
completion.
a-iTrust is managed by Ascendas Property Fund Trustee Pte. Ltd., a wholly-owned subsidiary of CapitaLand.
Key Facts (as at 30 June 2021)
- Portfolio: 7 IT Parks and 1 logistics park
- Portfolio floor area: 14.4 million sqft
- Committed portfolio occupancy: 90%
- Tenants: 264
- Weighted average lease term: 6.6 years
- Weighted average lease expiry: 3.5 years
- Gearing: 33%
- Weighted average cost of debt: 5.3%
- Adjusted NAV1: S$1.40 per unit
REIT-like Characteristics
a-iTrust voluntarily adopted the following regulations governing SREITs to enhance the stability of its distributions:
Strategy
- Development pipeline
- 3.1 million sqft in Bangalore
- 4.2 million sqft in Hyderabad
- 0.4 million sqft in Chennai
• Permissible investment: Adherence to Property | • | Sponsor asset | ||
• | 2.3 million sqft in Pune | |||
Fund Appendix's definition. | ||||
• | Investment restrictions: Invests at least 75% of the | • | 3rd party pipeline | |
Trust property in income-producing real estate2. | • | 1.2 million sqft aVance Hyderabad | ||
• | Development limit: Development limit at 20%. | • | 2.1 million sqft aVance Business Hub 2 | |
• | Distributable income: Minimum 90% to be | • | 1.4 million sqft AURUM IT SEZ | |
distributed. | • | 1.8 million sqft BlueRidge 3 | ||
• Tax-exempt distributions: Distributions exempt from | • | 1.7 million sqft Gardencity | ||
Singapore tax. | • | Logistics/Industrial/Data Centre | ||
• | Gearing limit: Gearing limit at 50%. | • 2.8 million sqft3 Arshiya Panvel warehouses | ||
• 3.9 million sqft3 Arshiya Khurja warehouse | ||||
Portfolio | • 0.4 million sqft Casa Grande | |||
• | 0.6 million sqft Data Centre Campus in Navi Mumbai |
City | Bangalore | Chennai | Hyderabad | Pune | Mumbai | ||
• Intl Tech Park | • | Intl Tech Park | • | Intl Tech Park | • aVance Pune | • Arshiya Panvel | |
Property | Bangalore | Chennai | Hyderabad | warehouses | |||
• | CyberVale | • | CyberPearl | ||||
• | aVance | ||||||
Hyderabad | |||||||
Type | IT Park | IT Park | IT Park | IT Park | Warehouse | ||
Site area (acres) | 68.3 | 33.2 | 51.24 | 5.4 | 24.5 | ||
Completed area5 | 5.2 | 2.8 | 4.0 | 1.5 | 0.8 | ||
(million sqft) | |||||||
No. of buildings | 12 | 6 | 12 | 3 | 6 | ||
Park population | 55,000 | 21,600 | 38,000 | 13,100 | - | ||
Land bank (development | |||||||
3.1m sqft | 0.4m sqft | 4.2m sqft6 | - | - | |||
potential) | |||||||
- Excludes deferred income tax liabilities on capital gains due to fair value revaluation of investment properties.
- As defined in a-iTrust's Trust Deed.
- Includes a 7th warehouse under construction (0.3 million sqft) in Arshiya Panvel and a warehouse to be acquired upon completion of Conditions Precedent (0.2 million sqft) in Arshiya Khurja.
- Includes land not held by a-iTrust.
- Only includes floor area owned by a-iTrust.
- Includes buildings under construction and additional development potential.
Notes:
- All information dated as at 30 June 2021 unless stated otherwise.
- All measurements of floor area are defined as "Super Built-up Area" or "SBA", which is the sum of the floor area enclosed within the walls, the area occupied by the walls, and the common areas such as the lobbies, lift shafts, toilets and staircases of that property, and in respect of which rent is payable.
- Any discrepancy between individual amounts and total shown is due to rounding.
Portfolio
Composition (by base rental)
Mumbai
7%
Pune
10%
Bangalore
35%
Chennai
19%
Hyderabad
29%
Financial Performance
Revenue (INR million)
5,246
4,005 | 4,078 | 4,658 | 5,550 | 5,584 | 6,124 | 6,579 | 7,220 | 8,626 | 9,336 | 10,188 | 10,250 | ||
CY2009 | CY2010 | CY2011 | CY2012 | CY2013 | CY2014 | CY2015 | CY2016 | CY2017 | CY2018 | CY2019 | CY2020 | YTD | |
CY2021 |
Currency & Income Distribution
INR/SGD exchange rate (indexed)
120
100
80
60
40
IPO Dec-07 | Dec-08 | Dec-09 | Dec-10 | Dec-11 | Dec-12 | Dec-13 | Dec-14 | Dec-15 | Dec-16 | Dec-17 | Dec-18 | Dec-19 | Dec-20Jun-21 |
Corporate Information
- Bloomberg ticker: AIT.SP
- Reuters ticker: AINT.SI
- SGX-STticker: CY6U
- Financial year: January to December
- Trustee-Manager:
Ascendas Property Fund Trustee Pte. Ltd. - Unit registrar:
Boardroom Corporate & Advisory Services Pte. Ltd.
Floor area (million sqft)
Portfolio | Development | Acquisition | 13.1 | 13.8 | 14.4 | ||||||||||||
12.61 | 0.7 | 0.6 | |||||||||||||||
11.9 | |||||||||||||||||
0.5 | |||||||||||||||||
0.8 | |||||||||||||||||
9.7 | 1.9 | ||||||||||||||||
8.8 | 0.3 | 0.4 | |||||||||||||||
7.5 | 0.6 | ||||||||||||||||
6.9 | 6.9 | 1.3 | |||||||||||||||
6.5 | |||||||||||||||||
0.6 | |||||||||||||||||
6.0 | |||||||||||||||||
0.5 | 0.4 | ||||||||||||||||
4.7 | 4.8 | 4.8 | |||||||||||||||
1.2 | |||||||||||||||||
3.6 | 0.1 | ||||||||||||||||
1.1 | |||||||||||||||||
3.6 | 3.6 | 4.7 | 4.8 | 4.8 | 6.0 | 6.5 | 6.9 | 6.9 | 7.5 | 8.8 | 9.7 | 11.9 | 12.6 | 13.1 | 13.8 | ||
IPO Dec-07Dec-08Dec-09Dec-10Dec-11Dec-12Dec-13Dec-14Dec-15Dec-16Dec-17Dec-18Dec-19Dec-20Jun-21
Net property income (INR million)
4,251
2,460 | 2,391 | 2,628 | 3,197 | 3,260 | 3,654 | 4,249 | 4,790 | 5,827 | 6,791 | 7,668 | 7,910 |
CY2009 CY2010 CY2011 CY2012 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 YTD CY2021
Distribution per unit (S¢)
4.72
4.5 | 7.1 | 7.8 | 6.9 | 6.0 | 5.52 | 4.92 | 5.32 | 6.02 | 6.22 | 6.62 | 8.12 | 9.12 | 9.82 | ||
CY2007 | CY2008 | CY2009 | CY2010 | CY2011 | CY2012 | CY2013 | CY2014 | CY2015 | CY2016 | CY2017 | CY2018 | CY2019 | CY2020 | YTD | |
CY2021 |
Contacts
Website:www.a-itrust.com
Email:enquiries@a-itrust.com
Address: 168 Robinson Road, #30-01 Capital Tower,
Singapore 068912
Phone: +65 6713 2888
Investor Relations
Contact: Tan Choon Siang
Email:choonsiang.tan@a-itrust.com
Phone: +65 6713 2888
- Includes reduction in floor area due to the demolition of Auriga Building (0.2 million sq ft) in ITPH as part of the redevelopment.
- Assumes 100% income payout ratio.
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Disclaimer
Ascendas India Trust published this content on 31 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2021 03:11:02 UTC.