---
title: "CapLand India Trust's net real estate income for the first quarter fell 3% to 53.4 million yuan | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283910325.md"
description: "CapitaLand India Trust's net property income (NPI) for the first quarter of 2026 decreased by 3% year-on-year, amounting to 53.4 million; total property revenue decreased by 8% year-on-year to 69 million. The trust stated that currency fluctuations led to a decline in revenue when measured in Singapore dollars, but net property income in Indian rupees increased by 8% year-on-year to 3.775 billion Indian rupees. The trust also mentioned the revenue contribution from new real estate projects and long-term agreements signed with data center operators"
datetime: "2026-04-24T00:27:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283910325.md)
  - [en](https://longbridge.com/en/news/283910325.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283910325.md)
---

# CapLand India Trust's net real estate income for the first quarter fell 3% to 53.4 million yuan | Lianhe Zaobao

CapitaLand India Trust's net property income (NPI) for the first quarter of 2026 decreased by 3% year-on-year, amounting to 53.4 million; total property income decreased by 8% to 69 million.

The trust released its business report for the first quarter of the fiscal year 2026 before the market opened on Friday (April 24), stating that currency fluctuations led to a decline in income denominated in Singapore dollars. The net property income in Indian Rupees is expected to increase by 8% year-on-year to 3.775 billion Indian Rupees; total property income increased by 3% to 4.878 billion Indian Rupees.

The trust attributed this mainly to the income contribution from new real estate projects, including MTB 6, as well as partial deliveries from the data center Navi Mumbai Tower 1 located in New Mumbai.

The trust also mentioned that it has signed a second long-term agreement with a global hyperscale data center operator for the data center Navi Mumbai Tower 2. Additionally, on February 27, 2026, the trust completed the divestment of a 20.2% stake in three data center projects.

#### Further Reading

CapitaLand Commercial Trust's first quarter net property income increased by 7.9% CapitaLand India Trust's distribution per unit in the second half of 2025 increased by 22% year-on-year to 3.9 cents

As of the end of March, the committed occupancy rate of the trust's real estate portfolio was 91%, with a weighted average lease expiry (WALE) of 3.3 years.

On the debt side, the overall leverage ratio of the trust decreased from 39.6% at the end of the previous quarter to 35.7%; the average cost of debt slightly increased from 5.6% to 5.7% CapLand India Trust's stock price closed at HKD 1.05 on Thursday (23rd), up 0.96%

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