India’s only listed retail REIT plans to expand its portfolio from 19 malls at present to 30-35 malls
AHMEDABAD, GUJARAT | 26th SEPTEMBER 2026 | Nexus Select Trust, India’s only listed retail-focused Real Estate Investment Trust (REIT), has outlined its Vision 2030 to double the size of its portfolio, as it looks to expand its presence across India’s growing organised retail and consumption markets.
Under the plan, Nexus Select Trust aims to expand its portfolio from 19 urban consumption centres currently to 30-35 by 2030. Its gross leasable area is targeted to grow from around 11 million sq ft to 18-20 million sq ft, while portfolio net operating income is expected to increase from around Rs. 1,900 crore to Rs. 3,800 crore.
Nexus currently operates across 15 cities, with around 10.7 million sq ft of retail gross leasable area, more than 3,200 stores and over 1,100 domestic and international brands. Retail leasing occupancy stands at around 96%.
Pratik Dantara, Chief Investor Relations Officer and Head of Strategy, Nexus Select Trust, said, “India’s consumption story is becoming broader and more geographically diverse supported by rising incomes, urbanisation, a younger consumer base and increasing brand awareness. Established metropolitan markets will remain important, but regional cities are increasingly demonstrating the consumer depth and brand appetite needed to support organised retail. Our Vision 2030 is built around this opportunity. We aim to double our portfolio while continuing to actively manage and enhance the assets we already operate.”
Nexus Select Trust was listed on Indian stock exchanges in May 2023 and is backed by global private equity major Blackstone. Its portfolio is focused predominantly on retail real estate, giving investors exposure to India’s urban consumption economy through an institutional retail platform.
The company’s expansion strategy is being supported by a combination of third-party acquisitions, strategic partnerships for under-construction malls and expansion within existing assets.
Nexus Select Trust has already announced the acquisition of Diamond Plaza in Kolkata, a 2,44,000 sq ft retail asset, along with a 0.7 million sq ft centre under development in the Mumbai Metropolitan Region and a development in Guwahati, comprising around 0.5 million sq ft of retail space and a 164-key Hyatt Regency.
Alongside portfolio expansion, Nexus Select Trust continues to focus on improving the performance of its existing assets. Its strategy includes retaining productive tenants, re-leasing space, introducing stronger brands, improving category mix and enhancing common areas, infrastructure and customer experience.
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