Chairman's Note
Dear Unitholders,
At the heart of every long-term investment lies a simple yet powerful idea; to
reimagine what's possible. The vision for Nexus Select Trust wasn't just about creating
India's largest retail REIT-it was about laying the foundation for a platform that could
shape the future of urban India. FY 2025 brought us one step closer to that vision.
This has been a landmark year for strategic progress, defined by purposeful growth
and intelligent capital allocation. Nexus Select Trust recorded strong performance across
metrics-reflecting not just operational strength, but the strategic maturity of a platform
that is steadily reimagining the contours of Indian retail. Backed by prudent capital
deployment, board-supported acquisitions, and a disciplined expansion strategy, we
continued to create lasting value for our stakeholders.
In a dynamic macroeconomic environment, our ability to deliver consistency of returns
and resilience of structure speaks to the strength of the REIT model. But more
importantly, it reflects our ability to evolve with the times-and stay ahead of them.
The role of the Board goes beyond oversight, it lies in guiding platforms to scale
responsibly, staying agile, and continuously reimagining potential. FY 2025 was a case in
point. Through focused engagement in governance, acquisitions, capital strategy, and risk
frameworks, the Board played an active role in shaping the Trust's long-term roadmap.
The strategic clarity of the leadership team, combined with the governance lens of the
Board, gives us continued conviction in the platform's ability to deliver differentiated
returns. We are equally encouraged by the trust placed in Nexus by a diverse investor base
across geographies-underscoring the relevance of our story in both Indian and global
contexts.
In a market where perception and performance often intertwine, governance remains our
bedrock.
The Board continues to maintain high engagement across committees, audit protocols, and
investor interactions-ensuring that transparency and accountability are hardwired into our
operating model.
This commitment is central to our belief that reimagining the future of retail also
means reinforcing trust at every level-operational, financial, and reputational.
The Indian consumer today is not just shopping, they're seeking experiences. Nexus
Select Trust has recognised this shift early, and its evolution into a curator of
lifestyle-led destinations is both timely and visionary.
From entertainment zones and curated F&B districts to leisure-focused formats, the
platform is aligning itself with the future. This transformation is not a pivot-it's a
progression, and one that will differentiate Nexus in a crowded and competitive
marketplace.
A strong brand story underpins a strong platform. Over the past year, Nexus continued
to invest in innovative marketing, transforming retail spaces into immersive environments
that celebrate community, culture, and creativity.
Online, our communication was equally forward-leaning, leveraging new-age digital
platforms to stay visible, relevant, and respected. Investors engaged with us not just in
earnings calls, but through thought leadership and media, reflecting a brand that is not
only performing, but inspiring confidence through its storytelling.
As we look to reimagine the future, we are equally conscious of how we shape it
responsibly.
Sustainability remains a Board-level priority. From net-zero roadmaps and IFRS
alignment to green leasing and tenant engagement - FY2025 saw meaningful movement across
our ESG goals.
Among the initiatives we are particularly proud of is the ‘Lakes of Happyness'
project-through which Nexus adopted 10 lakes and rejuvenated 8 of them across India, while
two of them are nearing completion. These restored ecosystems now serve as shared public
spaces, integrating the surrounding communities with nature to create a sense of shared
well-being. It's a testament to how a retail REIT can create impact far beyond its built
assets.
Nexus 2.0 reimagines how India sees retail. It's more than just a new chapter, it's an
evolved mindset that reimagines shopping centres as social ecosystems and seeks to
build notjust places, but purpose. We believe happiness can be measured notjust in
returns, but also in trust, transparency, and shared success.
To my fellow Board members, thank you for your foresight, independence, and commitment
to the vision. To the management team, your agility and accountability continues to drive
this platform forward. And to our unitholders-thank you for your belief in Nexus' ability
to not just participate in India's retail story, but to shape it.
As we reimagine the future, Nexus Select Trust stands ready-with clarity of vision,
consistency of execution, and the courage to lead.
Warm regards,
TUhin Parikh
Chairman, Nexus Select Mall Management Private Limited
(Manager to Nexus Select Trust)