Whalesbook
Toh bhaiyon aur behno, Nexus REIT ne Guwahati mein 1.2 million sq ft ka ek zabardast mixed-use asset khareedne ki poori tayyari kar li hai. Deal lagbhag ₹1,300 Crore ki hai aur yeh Galaxy group se ho rahi hai. Isme retail, hotel aur office spaces sab kuch hoga, lekin asset abhi ban raha hai. Is deal se Nexus REIT ka portfolio aur strong hoga, jo abhi 19 Grade-A urban consumption centers mein hai. Unka target hai ki 2030 tak unke paas 30-35 malls ho jayen. Ye Tier-2 cities mein entry bahut important hai kyunki vahan consumption growth tezi se badh raha hai aur ye future ka bada market ban sakta hai.
Ab aap soch rahe honge ki Tier-2 cities mein hi kyun? Toh bhai, dekho, aajkal in shehron mein kharch karne ki jo taakat hai na, woh bade metros ko bhi takkar de rahi hai. Logon ki disposable income badh rahi hai, infrastructure sudhar raha hai, aur sabko behtar cheezein chahiye. Isliye developers bhi ab Indore, Lucknow, Jaipur jaise shehron par dhyan de rahe hain. Nexus REIT ka yeh naya asset bhi aise hi experience-led retail par focus karega.
Nexus REIT toh waise bhi India ka pehla listed Retail REIT hai aur lagatar expand kar raha hai. Recently hi unhone Chandigarh mein 60,000 sq ft ka retail space add kiya hai. Current portfolio 10.7 million sq ft mein faila hua hai 15 cities mein, aur target hai 2030 tak 30-35 malls. Company ka kehna hai ki unke 19 retail malls mein 97% occupancy hai aur retailers ki consolidated sales mein 7% ka year-on-year growth dikha hai fiscal ke pehle half mein.
Par ab aata hai asli drama! Itna sab hone ke baad bhi, Nexus REIT ka valuation thoda 'expensive' lag raha hai. Stock price around ₹157 hai aur market cap lagbhag ₹23,767 Crore ke aas-paas. Analysts iska P/E ratio 46.38 se 49.23 aur price-to-book ratio 1.72 ke aas-paas bata rahe hain. MarketsMOJO ne toh ise 'very expensive' bhi kaha hai. Haan, dividend yield 5.17% se 6.01% hai, jo theek hai, par return on equity sirf 3.53% hai, jo zyada nahi hai.
Is deal mein kuch risks bhi hain. Asset abhi ban raha hai, toh construction delays ya cost badhne ka risk rehta hi hai. Nexus REIT ka aggressive expansion plan thoda risky ho sakta hai, agar leverage badh gaya toh. Ek badi chinta ye bhi hai ki promoters ka 77.4% holding pledged hai, matlab unhone apna share girvi rakha hua hai. Experts ka kehna hai ki valuation 'very expensive' hai aur quality 'average' hai. MarketsMOJO ne isko 'Hold' karne ko kaha hai. Analysts ne fiscal year 2026 ke liye consensus price target ₹163 rakha hai, jahan bull case mein ₹196 aur bear case mein ₹103 tak ja sakta hai. Revenue forecast ₹26.0 billion tak upar gaya hai, lekin EPS forecast thoda neeche aaya hai. Dekhna hoga ki yeh Guwahati wala asset kaise perform karta hai aur kya ye apne bade targets poore kar paate hain.