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Nexus Select Trust

NXST NSE
₹159.95 −0.03 (−0.02%)
P/E
55.16
View as Markdown
MCP
Close 4 Nov 2026 ₹159.95 −4.72 −2.87% 1Y
Start ₹164.67

Key Fundamentals

SmallcapRealtyConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.83%
Debt to Equity
0.47
EPS (TTM)
₹2.90
Book Value
₹87.56
Market Cap
—
P/E (TTM)
55.16
P/B
1.83
ROE
2.69%
Dividend Yield
1.53%
EBITDA
₹1,820 Cr
52W High
₹191.90
52W Low
₹150.00
Day Range
₹159.00 – ₹160.49
Volume
98,632

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

57 Good

Data confidence 98/100

Category scores

Quality
73
Strong
Returns, margins, earnings quality 22% weight
Valuation
74
Strong
Cheap vs sector & own history 24% weight
Growth
38
Weak
Sales & profit trajectory 9% weight
Financial Health
22
Poor
Solvency, leverage, coverage 9% weight
Momentum
38
Weak
Trend strength, vol-adjusted 12% weight
Ownership
53
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 290%

Weaknesses

2
  • Company has a low return on equity of 3.76% over last 3 years.
  • Promoters have pledged 77.4% of their holding.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1054
OscillatorsNeutral252
Moving AveragesStrong Bearish802

Key readings

RSI (14)
43.21
Neutral
MACD (12,26,9)
−1.80
Bullish
SMA (50)
164.51
Bearish
SMA (200)
160.87
Bearish

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
3YIrregular period
1Y+12.48%
TTM+12.37%

Net profit

Net profit growth by window
3YIrregular period
1Y−16.56%
TTM−4.97%

Operating cash flow

Operating cash flow growth by window
3YIrregular period
1Y+8.49%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3YIrregular period
1Y−0.50 pp
TTM−0.92 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2024₹1,916 Cr
Mar 2025₹2,283 Cr
Mar 2026₹2,568 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2024₹599 Cr
Mar 2025₹483 Cr
Mar 2026₹403 Cr

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

Nexus Select Trust trades at ₹159.66 as of 2026-10-30 with a market cap of ₹23,620 Cr, a P/E of 55.06x, and a dividend yield of 1.57%. The REIT shows strong revenue momentum with 12% TTM sales growth but faces headwinds from a low 3.05% ROE, significant promoter pledge of 77.4%, and a stock that has delivered -1% returns over one year.

Bull Case 6
  • TTM revenue growth of 12% indicates healthy rental income expansion across the mall portfolio, suggesting robust consumer footfalls and tenant demand.
  • Dividend payout ratio of 290% reflects the trust's commitment to distributing substantially all net income to unitholders, a structural feature attractive to income-seeking investors.
  • Debt-to-equity ratio of 0.47 is conservative for a REIT, providing balance sheet flexibility for future acquisitions or development without excessive leverage risk.
  • Price-to-book ratio of 1.82x suggests the trust trades at a moderate premium to its net asset base, not excessively stretched relative to the underlying real estate portfolio.
  • 3-year compounded profit growth of 402% reflects a dramatic earnings recovery trajectory as the retail real estate segment rebounded from pandemic-era disruptions.
  • 3-year stock CAGR of 8% demonstrates the trust has delivered positive long-term capital appreciation alongside its distribution income.
Bear Case 8
  • Promoters have pledged 77.4% of their holding, a significantly elevated level that introduces governance risk and potential forced selling pressure if asset values decline.
  • Return on equity of 3.05% is notably low, and the 3-year average ROE of roughly 3.76% signals structurally modest capital efficiency for unitholders.
  • P/E of 55.06x on TTM EPS of ₹2.90 is elevated, meaning unitholders are paying a significant premium per rupee of earnings even after the profit recovery.
  • TTM profit growth has turned negative at -5%, indicating the strong earnings recovery phase may be plateauing or reversing.
  • The stock has declined roughly 16.8% from its 52-week high of ₹191.90 to the current ₹159.66, reflecting sustained selling pressure over recent months.
  • 1-year stock CAGR of -1% shows the trust has delivered negative total capital returns over the past year, underperforming broader market indices.
  • Dividend yield of 1.57% is modest in an environment where Indian fixed-income alternatives offer materially higher risk-free yields, reducing the relative income appeal of the REIT.
  • Last-year ROE of 3% has declined from the 3-year average of 4%, pointing to a deteriorating rather than improving return profile on equity.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Nexus Select Trust is delivering solid double-digit growth across NOI, EBITDA, and revenue, underscoring the strength of its urban retail portfolio. The CEO transition from Dalip Sehgal to Siddharth Nawal appears orderly and backed by deep Blackstone institutional support. No material headwinds are visible in recent news flow. The outlook is stable to positive, with the upcoming Q2FY27 results on November 3 being the next key catalyst.

Positives 2
  • Strong Q1FY27 financial growth Oct 12

    Nexus reported Q1FY27 NOI of ₹510 crore (up 11% YoY), EBITDA of ₹491 crore (up 10.18% YoY), and revenue of ₹681 crore (up ~11% YoY).

  • New CEO with deep expertise Oct 12

    Siddharth Nawal appointed as MD and CEO designate effective January 1, 2027, bringing 8+ years of experience across Blackstone's India real estate portfolio including Nexus, Mindspace REIT, and others.

Neutral 3
  • Q2FY27 earnings call rescheduled Oct 16

    Nexus Select Trust moved its Q2FY27 earnings conference call to 16:30 IST on November 3, 2026.

  • Sponsor holding steady at 21.59% Oct 16

    Q2FY27 unitholding pattern shows sponsors at 21.59% and public at 78.41%, with total outstanding units at 151.50 crore.

  • KFin RTA address change Nov 4

    RTA KFin Technologies will shift its corporate office to Rajapushpa West Avenue, Hyderabad, effective December 1, 2026.

Quarterly Results

₹ Cr
NXST quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
287
541
571
542
554
557
594
580
614
631
671
652
681
Expenses
98
183
185
166
180
179
189
182
192
203
220
225
212
Operating Profit
190
357
387
375
374
378
405
398
421
428
451
428
469
OPM %
66%
66%
68%
69%
67%
68%
68%
69%
69%
68%
67%
66%
69%
Other Income
6
18
19
20
28
21
39
35
26
21
23
23
25
Interest
53
95
97
93
91
93
104
106
112
116
116
114
116
Depreciation
78
147
148
148
145
147
148
146
155
162
153
150
151
PBT
65
134
161
156
165
159
193
181
180
172
204
187
227
Tax %
−45%
−88%
34%
6%
15%
31%
38%
37%
34%
23%
32%
93%
31%
Net Profit
94
251
107
146
140
110
119
114
120
132
139
12
157
EPS (₹)
0.62
1.66
0.71
0.97
0.92
0.73
0.78
0.75
0.79
0.87
0.92
0.08
1.03

Profit & Loss

₹ Cr
NXST profit and loss, annual, ₹ crore
Particulars Mar 2023 8mMar 2024Mar 2025Mar 2026TTM
Sales
0
1,916
2,283
2,568
2,635
Expenses
3
632
731
835
859
Operating Profit
−3
1,284
1,552
1,733
1,776
OPM %
—
67%
68%
67%
67%
Other Income
0
88
126
88
92
Interest
0
337
394
458
462
Depreciation
0
520
586
620
616
PBT
−3
515
698
743
790
Tax %
0%
−16%
31%
46%
—
Net Profit
−3
599
483
403
440
EPS (₹)
—
3.95
3.19
2.66
2.9
Div. Payout %
0%
178%
397%
295%
—

Balance Sheet

₹ Cr
NXST balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0
15,095
15,095
15,095
Reserves
−3
−160
−956
−1,885
Borrowings
0
4,271
5,336
6,203
Other Liabilities
48
894
1,046
1,099
Total Liabilities
45
20,100
20,520
20,512
Fixed Assets
0
17,915
18,323
18,582
CWIP
0
35
69
9
Investments
0
1,185
1,328
1,318
Other Assets
45
965
800
602
Total Assets
45
20,100
20,520
20,512

Cash Flow

₹ Cr
NXST cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
1,217
1,532
1,662
Investing
0
−398
−965
−731
Financing
0
−780
−588
−914
Net Cash Flow
0
39
−20
17
Free Cash Flow
0
1,131
1,387
1,302
CFO/EBITDA
0
101
103
104

Ratios

NXST financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
—
12
9
8
Cash Conversion Cycle
—
12
9
8
Working Capital Days
—
−125
−175
−143
ROCE %
—
8%
5%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Nexus Select Trust insights

33 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Others 39.08%
  • DIIs 22.98%
  • Promoters 21.59%
  • Public 16.35%

77.38% of promoter holding pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Nexus Select Trust

What does Nexus Select Trust do?
Nexus Select Trust (NST) is the owner of India's leading consumption center platform of high-quality assets that serve as essential consumption infrastructure and is the first publicly listed consumption center REIT in India.
Where is Nexus Select Trust (NXST) listed?
Nexus Select Trust trades as NXST on the NSE and under code 543913 on the BSE.
Which sector does Nexus Select Trust belong to?
Nexus Select Trust is classified under the Consumer Discretionary sector, in the Realty industry.
What is the PE ratio of Nexus Select Trust?
Nexus Select Trust trades at a PE ratio of 55.16 as of 4 Nov 2026, on earnings per share of ₹2.9, against a book value of ₹87.56 per share.
What is the 52-week high and low of Nexus Select Trust?
Over the last 52 weeks Nexus Select Trust has traded between ₹150 and ₹191.9 as of 4 Nov 2026.
Does Nexus Select Trust pay dividends?
Nexus Select Trust has a dividend yield of 1.53%.
What is the Return on Equity (ROE) of Nexus Select Trust?
Nexus Select Trust reported a return on equity of 2.69%. Its debt-to-equity ratio is 0.47.

Company Information

Nexus Select Trust (NST) is the owner of India's leading consumption center platform of high-quality assets that serve as essential consumption infrastructure and is the first publicly listed consumption center REIT in India.

Website nexusselecttrust.com
Listed 19 May 2023
Face Value ₹100

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