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    CY6U   SG1V35936920

ASCENDAS INDIA TRUST

(CY6U)
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Ascendas India Trust : 1H FY2021 Factsheet

07/30/2021 | 11:12pm EDT

1H FY2021 Factsheet

Corporate Profile

Ascendas India Trust ("a-iTrust") was listed in August

2007 as the first Indian property trust in Asia.

Its principal objective is to own income-producing real estate used primarily as business space in India. a-iTrust may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon

completion.

a-iTrust is managed by Ascendas Property Fund Trustee Pte. Ltd., a wholly-owned subsidiary of CapitaLand.

Key Facts (as at 30 June 2021)

  • Portfolio: 7 IT Parks and 1 logistics park
  • Portfolio floor area: 14.4 million sqft
  • Committed portfolio occupancy: 90%
  • Tenants: 264
  • Weighted average lease term: 6.6 years
  • Weighted average lease expiry: 3.5 years
  • Gearing: 33%
  • Weighted average cost of debt: 5.3%
  • Adjusted NAV1: S$1.40 per unit

REIT-like Characteristics

a-iTrust voluntarily adopted the following regulations governing SREITs to enhance the stability of its distributions:

Strategy

  • Development pipeline
    • 3.1 million sqft in Bangalore
    • 4.2 million sqft in Hyderabad
    • 0.4 million sqft in Chennai

• Permissible investment: Adherence to Property

Sponsor asset

2.3 million sqft in Pune

Fund Appendix's definition.

Investment restrictions: Invests at least 75% of the

3rd party pipeline

Trust property in income-producing real estate2.

1.2 million sqft aVance Hyderabad

Development limit: Development limit at 20%.

2.1 million sqft aVance Business Hub 2

Distributable income: Minimum 90% to be

1.4 million sqft AURUM IT SEZ

distributed.

1.8 million sqft BlueRidge 3

• Tax-exempt distributions: Distributions exempt from

1.7 million sqft Gardencity

Singapore tax.

Logistics/Industrial/Data Centre

Gearing limit: Gearing limit at 50%.

• 2.8 million sqft3 Arshiya Panvel warehouses

• 3.9 million sqft3 Arshiya Khurja warehouse

Portfolio

• 0.4 million sqft Casa Grande

0.6 million sqft Data Centre Campus in Navi Mumbai

City

Bangalore

Chennai

Hyderabad

Pune

Mumbai

• Intl Tech Park

Intl Tech Park

Intl Tech Park

• aVance Pune

• Arshiya Panvel

Property

Bangalore

Chennai

Hyderabad

warehouses

CyberVale

CyberPearl

aVance

Hyderabad

Type

IT Park

IT Park

IT Park

IT Park

Warehouse

Site area (acres)

68.3

33.2

51.24

5.4

24.5

Completed area5

5.2

2.8

4.0

1.5

0.8

(million sqft)

No. of buildings

12

6

12

3

6

Park population

55,000

21,600

38,000

13,100

-

Land bank (development

3.1m sqft

0.4m sqft

4.2m sqft6

-

-

potential)

  1. Excludes deferred income tax liabilities on capital gains due to fair value revaluation of investment properties.
  2. As defined in a-iTrust's Trust Deed.
  3. Includes a 7th warehouse under construction (0.3 million sqft) in Arshiya Panvel and a warehouse to be acquired upon completion of Conditions Precedent (0.2 million sqft) in Arshiya Khurja.
  4. Includes land not held by a-iTrust.
  5. Only includes floor area owned by a-iTrust.
  6. Includes buildings under construction and additional development potential.

Notes:

  1. All information dated as at 30 June 2021 unless stated otherwise.
  2. All measurements of floor area are defined as "Super Built-up Area" or "SBA", which is the sum of the floor area enclosed within the walls, the area occupied by the walls, and the common areas such as the lobbies, lift shafts, toilets and staircases of that property, and in respect of which rent is payable.
  3. Any discrepancy between individual amounts and total shown is due to rounding.

Portfolio

Composition (by base rental)

Mumbai

7%

Pune

10%

Bangalore

35%

Chennai

19%

Hyderabad

29%

Financial Performance

Revenue (INR million)

5,246

4,005

4,078

4,658

5,550

5,584

6,124

6,579

7,220

8,626

9,336

10,188

10,250

CY2009

CY2010

CY2011

CY2012

CY2013

CY2014

CY2015

CY2016

CY2017

CY2018

CY2019

CY2020

YTD

CY2021

Currency & Income Distribution

INR/SGD exchange rate (indexed)

120

100

80

60

40

IPO Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Dec-18

Dec-19

Dec-20Jun-21

Corporate Information

  • Bloomberg ticker: AIT.SP
  • Reuters ticker: AINT.SI
  • SGX-STticker: CY6U
  • Financial year: January to December
  • Trustee-Manager:
    Ascendas Property Fund Trustee Pte. Ltd.
  • Unit registrar:
    Boardroom Corporate & Advisory Services Pte. Ltd.

Floor area (million sqft)

Portfolio

Development

Acquisition

13.1

13.8

14.4

12.61

0.7

0.6

11.9

0.5

0.8

9.7

1.9

8.8

0.3

0.4

7.5

0.6

6.9

6.9

1.3

6.5

0.6

6.0

0.5

0.4

4.7

4.8

4.8

1.2

3.6

0.1

1.1

3.6

3.6

4.7

4.8

4.8

6.0

6.5

6.9

6.9

7.5

8.8

9.7

11.9

12.6

13.1

13.8

IPO Dec-07Dec-08Dec-09Dec-10Dec-11Dec-12Dec-13Dec-14Dec-15Dec-16Dec-17Dec-18Dec-19Dec-20Jun-21

Net property income (INR million)

4,251

2,460

2,391

2,628

3,197

3,260

3,654

4,249

4,790

5,827

6,791

7,668

7,910

CY2009 CY2010 CY2011 CY2012 CY2013 CY2014 CY2015 CY2016 CY2017 CY2018 CY2019 CY2020 YTD CY2021

Distribution per unit (S¢)

4.72

4.5

7.1

7.8

6.9

6.0

5.52

4.92

5.32

6.02

6.22

6.62

8.12

9.12

9.82

CY2007

CY2008

CY2009

CY2010

CY2011

CY2012

CY2013

CY2014

CY2015

CY2016

CY2017

CY2018

CY2019

CY2020

YTD

CY2021

Contacts

Website: www.a-itrust.com

Email: enquiries@a-itrust.com

Address: 168 Robinson Road, #30-01 Capital Tower,

Singapore 068912

Phone: +65 6713 2888

Investor Relations

Contact: Tan Choon Siang

Email: choonsiang.tan@a-itrust.com

Phone: +65 6713 2888

  1. Includes reduction in floor area due to the demolition of Auriga Building (0.2 million sq ft) in ITPH as part of the redevelopment.
  2. Assumes 100% income payout ratio.

Disclaimer

Ascendas India Trust published this content on 31 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2021 03:11:02 UTC.


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Sales 2021 213 M 158 M 158 M
Net income 2021 125 M 92,6 M 92,6 M
Net Debt 2021 975 M 720 M 720 M
P/E ratio 2021 13,1x
Yield 2021 6,39%
Capitalization 1 637 M 1 209 M 1 210 M
EV / Sales 2021 12,2x
EV / Sales 2022 9,82x
Nbr of Employees -
Free-Float 99,2%
Chart ASCENDAS INDIA TRUST
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Ascendas India Trust Technical Analysis Chart | CY6U | SG1V35936920 | MarketScreener
Technical analysis trends ASCENDAS INDIA TRUST
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 1,42 SGD
Average target price 1,77 SGD
Spread / Average Target 24,5%
EPS Revisions
Managers and Directors
Sanjeev Durjhati P. Dasgupta CEO & Non-Independent Executive Director
Choon Siang Tan Chief Financial Officer
Chie Foo Chiang Chairman
Rohith Bhandary Head-Investments
Alan Rupert Nisbet Lead Independent Non-Executive Director
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