Mumbai, January 21, 2025: In a significant move, NDR InvIT Trust has expanded its infrastructure portfolio by acquiring a Grade-A industrial and warehousing portfolio valued at INR 7,061 million. The acquisition spans 2.01 million square feet (MSF) across Surat, Hyderabad, Bengaluru, and Pune, reinforcing the Trust’s strategy to establish a diversified and scalable infrastructure footprint in key growth markets.
Strategic Acquisition Details
The transaction involves a combination of cash consideration (INR 5,651 million) and a preferential issue (INR 1,410 million), with 11.01 million units being issued at INR 128 per unit. This represents a 21.6% premium over the trade price, reflecting strong investor confidence in NDR InvIT’s long-term growth plans.
Portfolio Breakdown
1. Surat (0.90 MSF)
- Contribution to GAV: 41.6%
- Key Feature: Warehousing facilities leased to marquee tenants.
2. Hyderabad (0.40 MSF)
- Contribution to GAV: 9.5%
- Key Feature: Built-to-suit warehouses catering to multiple tenants.
3. Bengaluru (0.33 MSF)
- Contribution to GAV: 31.3%
- Key Feature: Facility leased to NxtGen, supported by Intel and IFC.
4. Pune (0.39 MSF)
- Contribution to GAV: 17.6%
- Key Feature: Built-to-suit facility for a leading automotive OEM supplier.
Key Benefits of the Acquisition
1. Enhanced Portfolio Metrics
- Increases operating area by 12% to 19 MSF.
- Improves WALE to 12.1 years, ensuring stable long-term income.
2. Geographic Diversification
- Entry into Surat and Hyderabad markets.
- Strengthened presence in Bengaluru and Pune.
3. NAV Growth
- Net Asset Value (NAV) is expected to increase by 3%, reaching INR 130.81 per unit.
4. Income Stability
- With 100% occupancy and an 8.7% cap rate on FY 2026 NOI, the acquisition ensures robust income growth.
5. High-Quality Tenants
- Properties leased to top-tier clients, including automotive, engineering, and logistics leaders.
Commentary from NDR InvIT Management
Mr. Amrutesh Reddy, Director of NDR InvIT Managers, highlighted the strategic significance of the acquisition, stating:
“This move reinforces our commitment to supporting India’s infrastructure growth. With initiatives like the Gati Shakti National Master Plan and the ‘Make in India’ campaign, we aim to meet the rising demand for state-of-the-art warehousing and logistics solutions while ensuring stable returns for our stakeholders.”
About NDR InvIT Trust
NDR InvIT Trust is India’s first perpetual warehousing and industrial parks InvIT listed on the NSE. Its assets under management (AUM) span 16.99 MSF across 13 cities, housing 50+ warehouses in 33 industrial parks. The Trust serves 85 clients from diverse industries, including e-commerce, automobiles, engineering, FMCG, and retail.
By fostering sustainable economic and social growth, NDR InvIT continues to drive India’s infrastructure development, cementing its position as a leader in the warehousing and industrial investment space.
This acquisition showcases NDR InvIT’s vision of leveraging high-quality infrastructure investments to boost India’s economic potential.
