CAPITALAND INDIA TRUST Ascendas India Trust
Supplementary Information
As at 30 June 2022
Contents
Overview | |
Portfolio breakdown for completed properties | 2 |
Portfolio history | 2 |
Lease expiry profile | 2 |
Portfolio (Completed properties) | |
Floor area | 3 |
Portfolio by city | 3 |
Physical occupancy | 3 |
Retention rate | 3 |
Weighted average lease term | 3 |
Tenant | |
Number of tenants | 4 |
Tenant activity | 4 |
Tenant industry | 4 |
Country of origin | 4 |
Company structure | 4 |
Top 10 tenants | 5 |
Balance sheet | |
SGD/INR closing FX rate (for balance sheet) | 6 |
Valuation | 6 |
Net asset value ("NAV") per unit | 6 |
Adjusted NAV per unit | 6 |
Gearing | 6 |
Effective debt | 6 |
Effective weighted average cost of debt | 6 |
Percentage of fixed rate debt | 6 |
Breakdown of loans by currency | 6 |
Singapore Dollar income statement | |
SGD/INR average FX rate (for income statement) | 7 |
Indian Rupee income statement | 8 |
Glossary | 9 |
Note: | |
An excel version of this file is available on a-iTrust's website: | |
https://ir.a-itrust.com/financials.html |
Any discrepancy between individual amounts and total shown in this document is due to rounding.
Page 1
ASCENDAS INDIA TRUST
OVERVIEW AS AT 30 JUNE 2022
Portfolio breakdown for completed properties | ||||||
Property | City | Floor area (million sq ft) | ||||
International Tech Park Bangalore (ITPB) | Bangalore | 5.2 | ||||
International Tech Park Chennai (ITPC) | Chennai | 2.0 | ||||
CyberVale (CV) | Chennai | 0.8 | ||||
Industrial Facility, Mahindra World City | Chennai | 0.4 | ||||
International Tech Park Hyderabad (ITPH) | Hyderabad | 1.3 | ||||
CyberPearl (CP) | Hyderabad | 0.4 | ||||
aVance Hyderabad | Hyderabad | 2.1 | ||||
aVance Pune | Pune | 1.5 | ||||
Arshiya Panvel | Mumbai | 1.2 | ||||
Building Q1, Aurum Q Parc | Mumbai | 0.6 | ||||
Total | 15.5 | |||||
Portfolio history | ||||||
Date | Property | Building | Floor area | Portfolio floor area | Type | |
(million sq ft) | (million sq ft) | |||||
Aug-07 | - | - | - | 3.6 | At IPO | |
Dec-07 | ITPH | Vega | 0.4 | 4.0 | Development | |
Dec-07 | ITPC | Crest | 0.7 | 4.7 | Development | |
Sep-08 | ITPB | Strata units | 0.1 | 4.8 | Acquisition | |
Dec-10 | ITPB | Park Square | 0.4 | 5.3 | Development | |
Dec-10 | ITPC | Zenith | 0.7 | 6.0 | Development | |
Jun-11 | ITPB | Voyager | 0.5 | 6.5 | Development | |
Feb-12 | aVance Hyderabad | aVance 1 & 2 | 0.4 | 6.9 | Acquisition | |
Jan-14 | ITPB | Aviator | 0.6 | 7.5 | Development | |
Mar-15 | CyberVale | Lakeview & Springfield | 0.6 | 8.1 | Acquisition | |
Jul-15 | aVance Hyderabad | aVance 3 | 0.7 | 8.8 | Acquisition | |
Mar-16 | CyberVale | CyberVale 3 | 0.3 | 9.0 | Acquisition | |
Jun-16 | ITPB | Victor | 0.6 | 9.7 | Development | |
Feb-17 | aVance Pune | aVance Pune | 1.5 | 11.1 | Acquisition | |
Apr-17 | aVance Hyderabad | aVance 4 | 0.4 | 11.5 | Acquisition | |
Sep-17 | ITPH | Atria | 0.4 | 11.9 | Development | |
Feb-18 | Arshiya Panvel | Arshiya | 0.8 | 12.8 | Acquisition | |
Apr-18 | ITPH | Auriga | -0.2 | 12.6 | Redevelopment | |
May-19 | ITPB | Anchor | 0.5 | 13.1 | Development | |
Nov-20 | ITPB | Anchor Annex | 0.7 | 13.8 | Development | |
Mar-21 | aVance Hyderabad | aVance 6 | 0.6 | 14.4 | Acquisition | |
Nov-21 | Building Q1, Aurum Q Parc | Building Q1 | 0.6 | 15.0 | Acquisition | |
Jan-22 | ITPH | Mariner | -0.2 | 14.8 | Redevelopment | |
Mar-22 | Arshiya Panvel | Warehouse 7 | 0.3 | 15.1 | Acquisition | |
May-22 | Industrial Facility, Mahindra World City | Industrial Facility | 0.4 | 15.5 | Acquisition | |
Lease expiry profile by monthly base rent (%) | ||||||
City | 2022 | 2023 | 2024 | 2025 | 2026 & | Total |
beyond | ||||||
Bangalore | 1.7% | 1.7% | 6.0% | 1.3% | 23.6% | 34.3% |
Hyderabad | 8.3% | 3.9% | 3.0% | 3.0% | 7.5% | 25.7% |
Chennai | 1.5% | 3.2% | 2.8% | 1.9% | 8.9% | 18.3% |
Pune | 0.1% | 0.4% | 0.2% | 1.5% | 7.6% | 9.8% |
Mumbai | 0.0% | 0.0% | 7.2% | 0.5% | 4.1% | 11.8% |
Total | 11.6% | 9.3% | 19.1% | 8.2% | 51.8% | 100.0% |
Note:
Anchor building was previously known as MTB 4.
Anchor Annex building was previously known as Endeavour building or MTB 5. aVance Hyderabad was previously known as aVance Business Hub. aVance Pune was previously known as BlueRidge 2.
International Tech Park Hyderabad was previously known as The V.
All measurements of floor area are defined herein as Super Built-up Area (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.
Page 2
ASCENDAS INDIA TRUST
PORTFOLIO AS AT 30 JUNE 2022 (COMPLETED PROPERTIES)
Mar-08 | Mar-09 | Mar-10 | Mar-11 | Mar-12 | Mar-13 | Mar-14 | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Dec-191 | Dec-20 | Dec-21 | Jun-22 | |
Floor area (million sq ft) | ||||||||||||||||
Portfolio | 3.6 | 4.7 | 4.8 | 4.8 | 6.0 | 6.9 | 6.9 | 7.5 | 8.1 | 9.0 | 11.1 | 12.8 | 12.6 | 13.1 | 13.8 | 15.0 |
Development / Redevelopment | 1.1 | - | - | 1.2 | 0.5 | - | 0.6 | - | - | 0.6 | 0.4 | -0.2 | 0.5 | 0.7 | - | -0.2 |
Acquisition | - | 0.1 | - | - | 0.4 | - | - | 0.6 | 1.0 | 1.5 | 1.2 | - | - | - | 1.2 | 0.7 |
Total | 4.7 | 4.8 | 4.8 | 6.0 | 6.9 | 6.9 | 7.5 | 8.1 | 9.0 | 11.1 | 12.8 | 12.6 | 13.1 | 13.8 | 15.0 | 15.5 |
Portfolio by city (%)7 | ||||||||||||||||
Bangalore | 36% | 38% | 38% | 38% | 40% | 40% | 45% | 42% | 38% | 36% | 31% | 32% | 34% | 34% | 35% | 34% |
Hyderabad | 36% | 36% | 36% | 29% | 31% | 31% | 29% | 27% | 31% | 25% | 28% | 27% | 26% | 26% | 28% | 26% |
Chennai | 28% | 27% | 27% | 33% | 29% | 29% | 26% | 31% | 31% | 25% | 22% | 22% | 22% | 22% | 17% | 18% |
Pune | - | - | - | - | - | - | - | - | - | 14% | 12% | 12% | 12% | 11% | 10% | 10% |
Mumbai | - | - | - | - | - | - | - | 7% | 7% | 6% | 7% | 10% | 12% | |||
Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
Occupancy (%)8 | ||||||||||||||||
ITPB | 100% | 99% | 98% | 99%2 | 97%2 | 94% | 90%2 | 92% | 94% | 95% | 96% | 98% | 98% | 81%5 | 91% | 95% |
ITPC | 100%2 | 99% | 98% | 97%2 | 98% | 99% | 99% | 100% | 100% | 100% | 99% | 100% | 100% | 82% | 64% | 83% |
CyberVale | - | - | - | - | - | - | - | 100% | 79% | 100% | 100% | 100% | 100% | 100% | 78% | 78% |
Industrial Facility, Mahindra World City | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100% |
aVance Hyderabad | - | - | - | - | 100% | 96% | 96% | 98% | 98% | 100% | 96% | 98% | 98% | 97% | 90%6 | 84% |
CyberPearl | 95% | 97% | 99% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 99% | 96% | 100% | 91% | 89% | 94% |
ITPH | 94%2 | 98% | 95% | 93% | 94% | 93% | 99% | 98% | 100% | 99% | 88%3 | 99% | 98% | 91%4 | 92% | 94% |
aVance Pune | - | - | - | - | - | - | - | - | - | 54% | 72% | 98% | 100% | 100% | 99% | 99% |
Arshiya Panvel | - | - | - | - | - | - | - | - | - | - | 100% | 100% | 100% | 100% | 100% | 100% |
Building Q1, Aurum Q Parc | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 54% | 58% |
Portfolio | 98% | 98% | 97% | 97% | 97% | 97% | 95% | 96% | 95% | 92% | 93% | 98% | 99% | 89% | 87% | 90% |
Retention rate (%) | 92% | 89% | 77% | 63% | 78% | 77% | 94% | 86% | 86% | 80% | 72%4 | 71%4 | 63%4 | 53% | 56% | 78% |
Weighted average lease term (years) | 3.9 | 3.9 | 3.9 | 4.1 | 4.8 | 4.8 | 5.1 | 5.3 | 5.5 | 6.4 | 6.5 | 6.6 | 6.7 | 6.6 | 6.7 | 6.6 |
Note:
- With effect from 1 April 2019, a-iTrust's financial year end was changed from 31 March to 31 December.
- Comprises stabilised buildings (excludes buildings that were completed recently).
- Committed occupancy was 93%. The consolidation of existing tenants into Atria building, as well as the shifting out of tenants affected by the redevelopment, resulted in lower occupancy at ITPH.
- Excludes leases in ITPH that were affected by the redevelopment in ITPH and/or consolidation in Atria building.
- Includes the newly completed Anchor Annex building (previously known as Endeavour building) in ITPB, which is 100% committed. ITPB committed occupancy is 94%.
- Includes aVance 6 building acquired in March 2021.
- Portfolio breakdown by city on or before December 2019 is presented based on portfolio area. Portfolio breakdown from December 2020 onwards is based on base rental.
- Occupancy breakdown on or before December 2021 is presented based on physical occupancy. Occupancy breakdown from June 2022 onwards is based on committed occupancy.
Page 3
ASCENDAS INDIA TRUST
TENANT AS AT 30 JUNE 2022
Mar-08 | Mar-09 | Mar-10 | Mar-11 | Mar-12 | Mar-13 | Mar-14 | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Dec-191 | Dec-20 | Dec-21 | Jun-22 | |
Number of tenants | 234 | 239 | 248 | 266 | 309 | 337 | 345 | 324 | 297 | 300 | 321 | 337 | 344 | 289 | 259 | 283 |
Tenant activity (By base rental) | ||||||||||||||||
IT | 61% | 64% | 63% | 62% | 59% | 58% | 54% | 50% | 43% | 49% | 45% | 44% | 47% | 49% | 47% | 45% |
IT/ITES | 10% | 10% | 12% | 13% | 17% | 19% | 25% | 31% | 40% | 37% | 36% | 37% | 36% | 36% | 39% | 34% |
Logistics and warehousing | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | 7% | 7% | 7% | 7% | 7% | 9% |
ITES | 18% | 15% | 16% | 13% | 11% | 12% | 12% | 12% | 8% | 7% | 6% | 5% | 4% | 4% | 3% | 3% |
Retail and F&B | 1% | 1% | 1% | 4% | 7% | 7% | 5% | 4% | 3% | 3% | 3% | 3% | 3% | 3% | 2% | 2% |
R&D | 6% | 6% | 5% | 6% | 4% | 3% | 3% | 2% | 4% | 3% | 2% | 2% | 2% | 0% | 0% | 3% |
Others | 5% | 4% | 3% | 2% | 1% | 1% | 1% | 1% | 2% | 1% | 1% | 2% | 1% | 1% | 2% | 4% |
Tenant industry (By base rental) | ||||||||||||||||
IT, Software & Application Devt & Service Support | N.A. | N.A. | N.A. | N.A. | 40% | 46% | 53% | 43% | 45% | 51% | 49% | 49% | 51% | 52% | 58% | 55% |
Banking & Financial Services | N.A. | N.A. | N.A. | N.A. | 19% | 19% | 18% | 19% | 16% | 14% | 13% | 12% | 11% | 10% | 8% | 7% |
Design, Gaming and Media | N.A. | N.A. | N.A. | N.A. | 8% | 10% | 9% | 8% | 7% | 7% | 7% | 7% | 7% | 7% | 6% | 6% |
Electronics, Semiconductor & Engineering | N.A. | N.A. | N.A. | N.A. | 6% | 5% | 4% | 9% | 7% | 7% | 6% | 7% | 6% | 7% | 6% | 8% |
Logistics | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | N.A. | 7% | 7% | 7% | 7% | 7% | 9% |
Automobile | N.A. | N.A. | N.A. | N.A. | 3% | 3% | 3% | 8% | 8% | 8% | 7% | 6% | 6% | 5% | 4% | 4% |
Healthcare & Pharmaceutical | N.A. | N.A. | N.A. | N.A. | 4% | 2% | 2% | 2% | 4% | 4% | 3% | 3% | 3% | 3% | 2% | 2% |
Retail | N.A. | N.A. | N.A. | N.A. | 5% | 5% | 3% | 2% | 2% | 1% | 2% | 2% | 2% | 1% | 1% | 1% |
Telecommunication & Network | N.A. | N.A. | N.A. | N.A. | 5% | 4% | 2% | 4% | 4% | 2% | 2% | 2% | 2% | 2% | 3% | 3% |
F&B | N.A. | N.A. | N.A. | N.A. | 2% | 2% | 2% | 2% | 2% | 2% | 1% | 1% | 1% | 1% | 1% | 1% |
Oil & Gas | N.A. | N.A. | N.A. | N.A. | 1% | 2% | 2% | 1% | 2% | 1% | 1% | 1% | 1% | 2% | 2% | 1% |
Others | N.A. | N.A. | N.A. | N.A. | 7% | 2% | 2% | 2% | 3% | 3% | 2% | 3% | 3% | 3% | 3% | 3% |
Country of origin | ||||||||||||||||
USA | N.A. | 69% | 70% | 68% | 65% | 66% | 71% | 68% | 67% | 62% | 59% | 59% | 57% | 51% | 50% | 47% |
India2 | N.A. | 14% | 14% | 16% | 15% | 15% | 13% | 13% | 13% | 19% | 23% | 24% | 27% | 30% | 34% | 36% |
France | N.A. | 2% | 2% | 2% | 8% | 6% | 6% | 9% | 11% | 10% | 9% | 8% | 7% | 9% | 8% | 8% |
UK | N.A. | 5% | 5% | 5% | 4% | 4% | 4% | 3% | 2% | 2% | 2% | 2% | 2% | 2% | 2% | 1% |
Singapore | N.A. | 1% | 1% | 2% | 2% | 2% | 2% | 1% | 1% | 1% | 1% | 2% | 1% | 2% | 1% | 1% |
Japan | N.A. | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 3% | 3% | 3% | 2% | 2% | 2% | 0% | 0% |
Others | N.A. | 9% | 8% | 7% | 5% | 7% | 4% | 3% | 3% | 3% | 3% | 3% | 4% | 4% | 5% | 7% |
Company structure | ||||||||||||||||
Multinational corporations3 | N.A. | 91% | 92% | 89% | 88% | 88% | 90% | 90% | 91% | 93% | 87% | 86% | 86% | 87% | 87% | 85% |
Indian company4 | N.A. | 9% | 8% | 11% | 12% | 12% | 10% | 10% | 9% | 7% | 13% | 14% | 14% | 13% | 13% | 15% |
Note:
- With effect from 1 April 2019, a-iTrust's financial year end was changed from 31 March to 31 December.
- Comprises Indian companies with local and overseas operations.
- Multinational corporations, including Indian companies with local and overseas operations.
- Comprises Indian companies with local operations only.
Page 4
ASCENDAS INDIA TRUST
TOP 10 TENANTS AS AT 30 JUNE 2022 (In alphabetical order)
Mar-08 | Mar-09 | Mar-10 | |
1 | Affiliated Computer Services of India Pvt. Ltd. | Affiliated Computer Services of India Pvt. Ltd. | Affiliated Computer Services of India Pvt. Ltd. |
2 | Applied Materials India Pvt. Ltd. | Applied Materials India Pvt. Ltd. | Applied Materials India Pvt. Ltd. |
3 | C A Computer Associates India Pvt. Ltd. | Cognizant Technology Solution (India) Pvt. Ltd. | Cognizant Technology Solution (India) Pvt. Ltd. |
4 | Cognizant Technology Solution (India) Pvt. Ltd. | General Motors India Pvt. Ltd. | General Motors India Pvt. Ltd. |
5 | General Motors India Pvt. Ltd. | iNautix Technologies India Pvt. Ltd. | iNautix Technologies India Pvt. Ltd. |
6 | IBM Global Services Pvt. Ltd. | Invensys Development Center India Pvt. Ltd. | Merrill Lynch (India) Technology Services |
7 | iNautix Technologies India Pvt. Ltd. | Merrill Lynch (India) Technology Services | Paprikaas Interactive Services Pvt. Ltd. |
8 | Infineon Technologies India Pvt. Ltd. | Paprikaas Interactive Services Pvt. Ltd. | Pfizer Pharmaceutical India Pvt. Ltd. |
9 | Paprikaas Interactive Services Pvt. Ltd. | Pfizer Pharmaceutical India Pvt. Ltd. | Tata Consultancy Services Ltd. |
10 | ZapApp/First Indian Corporation/First Advantage | ZapApp/First Indian Corporation/First Advantage | ZapApp/First Indian Corporation/First Advantage/First American |
(India) | |||
Mar-11 | Mar-12 | Mar-13 | |
1 | Affiliated Computer Services of India Pvt. Ltd. | Affiliated Computer Services of India Pvt. Ltd. | Affiliated Computer Services of India Pvt. Ltd. |
2 | Applied Materials India Pvt. Ltd. | Applied Materials India Pvt. Ltd. | Applied Materials India Pvt. Ltd. |
3 | Bally Technologies India Pvt. Ltd. | BA Continuum Pvt. Ltd. | BA Continuum Pvt. Ltd. |
4 | Cognizant Technology Solution (India) Pvt. Ltd. | Cognizant Technology Solution (India) Pvt. Ltd. | Bally Technologies India Pvt. Ltd. |
5 | General Motors India Pvt. Ltd. | First American (India) Private Limited | Cognizant Technology Solution (India) Pvt. Ltd. |
6 | iNautix Technologies India Pvt. Ltd. | General Motors India Pvt. Ltd. | First American (India) Private Limited |
7 | Merrill Lynch (India) Technology Services | iNautix Technologies India Pvt. Ltd. | General Motors India Pvt. Ltd. |
8 | Paprikaas Interactive Services Pvt. Ltd. | McKinsey Knowledge Centre India Private Limited | iNautix Technologies India Pvt. Ltd. |
9 | Tata Consultancy Services Ltd. | Societe Generale Global Solution Centre Pvt. Ltd. | Societe Generale Global Solution Centre Pvt. Ltd. |
10 | ZapApp/First Indian Corporation/First Advantage/First | Technicolor India Pvt. Ltd. | Technicolor India Pvt. Ltd. |
American (India) | |||
Mar-14 | Mar-15 | Mar-16 | |
1 | Affiliated Computer Services of India Pvt. Ltd. | Affiliated Computer Services of India Pvt. Ltd. | Applied Materials |
2 | Applied Materials India Pvt. Ltd. | Applied Materials India Pvt. Ltd. | Bank of America |
3 | BA Continuum Pvt. Ltd. | BA Continuum Pvt. Ltd. | Cognizant |
4 | Bally Technologies India Pvt. Ltd. | Cognizant Technology Solution (India) Pvt. Ltd. | General Motors |
5 | Cognizant Technology Solution (India) Pvt. Ltd. | General Motors India Pvt. Ltd. | Mu Sigma |
6 | General Motors India Pvt. Ltd. | iNautix Technologies India Pvt. Ltd. | Renault Nissan |
7 | iNautix Technologies India Pvt. Ltd. | Mu Sigma Business Solutions Pvt. Ltd. | Societe Generale |
8 | Mu Sigma Business Solutions Pvt. Ltd. | Renault Nissan Technology & Business Centre Pvt. Ltd. | The Bank of New York Mellon |
9 | Societe Generale Global Solution Centre Pvt. Ltd. | Societe Generale Global Solution Centre Pvt. Ltd. | UnitedHealth Group |
10 | Technicolor India Pvt. Ltd. | Technicolor India Pvt. Ltd. | Xerox |
Mar-17 | Mar-18 | Mar-19 | |||
1 | Bank of America | Arshiya Panvel | Applied Materials | ||
2 | Cognizant | Bank of America | Arshiya Panvel | ||
3 | General Motors | Cognizant | Bank of America | ||
4 | Mu Sigma | IBM | Cognizant | ||
5 | Renault Nissan | Mu Sigma | Mu Sigma | ||
6 | Societe Generale | Renault Nissan | Renault Nissan | ||
7 | Tata Consultancy Services | Societe Generale | Societe Generale | ||
8 | The Bank of New York Mellon | Tata Consultancy Services | Tata Consultancy Services | ||
9 | UnitedHealth Group | The Bank of New York Mellon | Technicolor | ||
10 | Xerox | UnitedHealth Group | The Bank of New York Mellon |
Dec-19 | Dec-20 | Dec-21 | |||
1 | Applied Materials | Applied Materials | Amazon | ||
2 | Arshiya Panvel | Arshiya Panvel | Applied Materials | ||
3 | Bank of America | Bank of America | Arshiya Panvel | ||
4 | Mu Sigma | Cognizant | Bank of America | ||
5 | Renault Nissan | Renault Nissan | Larsen & Toubro | ||
6 | Societe Generale | Societe Generale | Renault Nissan | ||
7 | Tata Consultancy Services | Tata Consultancy Services | Societe Generale | ||
8 | Technicolor | Technicolor | Tata Consultancy Services | ||
9 | The Bank of New York Mellon | UnitedHealth Group | Technicolor | ||
10 | UnitedHealth Group | Xerox | UnitedHealth Group |
Jun-22
- Amazon
- Applied Materials
- Arshiya
- Bank of America
- Pegatron
- Renault Nissan
- Societe Generale
- Tata Consultancy Services
- Technicolor
- UnitedHealth Group
Note:
Starting from March 2016, the parent company is shown instead of the operating entity.
Page 5
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Ascendas India Trust published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 03:13:03 UTC.
