Ascendas India Trust : 1H FY2021 Factsheet

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:[e-mail]

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

Singapore 068912

Phone: [phone]

Investor Relations

Contact: Tan Choon Siang

Email:[e-mail]

Phone: [phone]

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.