NXST
Nexus Select share price & financials
- Price
- ₹155.6
- Market cap
- ₹25.3k Cr
- Sector
- Realty
- Calls analysed
- 9
Nexus Select Q1 FY27
What went well
- Robust consumption growth of 17% YoY, driven by key festive occasions and the wedding season, with broad-based growth across categories including Jewellery (>50% growth), Electronics (24% growth), and FECs (16% growth).
- Strong financial performance with 11% YoY Net Operating Income growth and 10% YoY distribution growth, marking the 12th consecutive quarter of 100% distribution payout.
- Proactive asset management demonstrated by re-leasing 4 lakh sq ft, including 2 lakh sq ft strategically churned ahead of lease expiry at spreads over 20%, enhancing portfolio premiumization.
What Nexus Select does
Nexus Select Trust is India's first listed retail real estate investment trust (REIT) that owns and operates a portfolio of Grade-A urban consumption centres (shopping malls) leased to retail, entertainment and F&B brands across major Indian cities. It earns rental income from leasing retail space to tenants, supplemented by an attached hospitality (hotel) portfolio, commercial office space, and a small rooftop solar generation asset. The trust also runs in-mall marketing/media formats such as anamorphic advertising screens and the NexusONE customer loyalty programme, and grows its portfolio through acquisitions and development tie-ups with third-party developers.
Segments
- Retail
- Commercial Offices
- Hospitality
- Solar
- Consumption centres (malls)
- 19 malls across 15 cities
- Retail portfolio leasable area
- 10.7 million sq ft
- Retail stores / brands hosted
- 3,200+ stores across ~1,100 brands
- FY26 footfalls
- 137 million+
- Hospitality portfolio
- 450 keys across 3 hotels
- Office portfolio
- 1.3 million sq ft across 3 office assets
Guidance record · Q1 FY27
what the last two calls moved 27 tracked 2 delivered 9 missed 16 open- Vega City Acquisition Closure delivered said Q2 FY25 Promised: expect the deal to close in the next couple of weeks Q1 FY27: No new update, promise achieved.
- Nexus One App Expansion missed said Q3 FY24 Promised: by March of this year, we hope to take it to 10 malls Q1 FY27: No new update, promise missed.
- Distribution per Unit (DPU) revised down said Q1 FY25 Promised: around INR 8.7 to 8.8 per unit on a full-year basis Q1 FY27: No new update, target period has passed.
All 27 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 17.3%, net profit down 24.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 307 | 348 | 332 | 371 | 317 +3% | 382 +10% | 433 +30% | 307 −17% |
| EBITDA | 302 | 343 | 327 | 366 | 311 +3% | 376 +10% | 427 +31% | 300 −18% |
| Net profit | 254 | 281 | 259 | 290 | 232 −9% | 297 +6% | 349 +35% | 220 −24% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +12.2% 1Y
1Y: ₹148.87 on 10 Sept 2025 → ₹166.98. High ₹168.93 (10 Aug 2026), low ₹146.7 (12 Sept 2025).
How the price took the results
close before → close after
- Q1 FY27
- +0.0%
- 3 Aug
- Q4 FY26
- −0.3%
- 12 May
- Q3 FY26
- −0.7%
- 2 Feb
- Q2 FY26
- +0.2%
- 4 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 18.6% a year over 2 years, FY24 to FY26. Operating margin widened to 98.5%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹1.1k Cr | ₹1.3k Cr | ₹1.5k Cr |
| Operating profit | ₹1.0k Cr | ₹1.3k Cr | ₹1.5k Cr |
| Operating margin | 97.1% | 98.5% | 98.5% |
| Interest | ₹150 Cr | ₹235 Cr | ₹316 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹894 Cr | ₹1.1k Cr | ₹1.2k Cr |
| Net margin | 83.6% | 81.5% | 77.7% |
| Cash from operations | ₹-33 Cr | ₹-21 Cr | ₹-21 Cr |
| Free cash flow | ₹-33 Cr | ₹-21 Cr | ₹-21 Cr |
| ROCE | 12.0% | 7.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹15.1k Cr | ₹15.1k Cr | ₹15.1k Cr |
| Reserves | ₹-3 Cr | ₹136 Cr | ₹-1.3k Cr | ₹-238 Cr |
| Borrowings | ₹0 Cr | ₹2.2k Cr | ₹5.8k Cr | ₹4.4k Cr |
| Other liabilities | ₹48 Cr | ₹18 Cr | ₹1.1k Cr | ₹13 Cr |
| Total liabilities | ₹45 Cr | ₹17.5k Cr | ₹20.7k Cr | ₹19.3k Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹18.6k Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹14.3k Cr | ₹1.3k Cr | ₹14.2k Cr |
| Other assets | ₹45 Cr | ₹3.2k Cr | ₹759 Cr | ₹5.0k Cr |
| Total assets | ₹45 Cr | ₹17.5k Cr | ₹20.7k Cr | ₹19.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
All earnings calls (9)
Read the Q1 FY27 call →Learn to analyse Nexus Select
Guides on how to read this kind of business and the numbers that matter.