In March, the REIT completed the acquisition of the 1.4 million sqft aVance II, Pune — previously known as BlueRidge 3 Phase 1 — an IT special economic zone (SEZ) project in Hinjawadi, Pune of which 63% has been leased to multinational companies.
CapitaLand India Trust (SGX:CY6U
) (CLINT) has reported a net property income of INR3.07 billion ($49.4 million) for the 1QFY2024 ended March 31, up 19% y-o-y due to higher total property income and partially offset by an increase in total property expenses.
Total property income for the same period was up 26% y-o-y to INR4.15 billion or $66.9 million, thanks to higher rental income from existing properties and income contributions from CLINT’s acquisition and development of ITPH Block A, ITPP-H, Mahindra World City’s Industrial Facilities 2 and 3.
