Ascendas India Trust posts DPU of 1.36 cents, unchanged from year ago

SINGAPORE - Ascendas India Trust, which has six Information Technology parks across India, on Friday reported a distribution per unit of 1.36 cents for the quarter to June 30, unchanged from a year ago.

This came as net property income grew 7 per cent year on year - or 12 per cent in Indian rupee terms - to S$23.64 million, as newly acquired assets aVance 3 and CyberVale 3 boosted the top line along with positive rental reversions.

In its results announcement after the market closed, the Reit manager noted several growth initiatives in the pipeline, including the development of The V in Hyderabad, to be completed in 2017, and the complete acquisition of BlueRidge 2 in Pune by December this year.

Ascendas India Trust shed one cent or 0.99 per cent to S$1 on Friday.