Nexus Select Trust

- The transcript does not mention any current or planned fundraising through equity. - On debt, it is noted that debt cost has been reduced by 30 basis points year-on-year, yielding annualized savings of INR 120 million. - There is no explicit discussion of raising new debt funds in this transcript. - Funds have been raised previously for the Vega City acquisition and currently those funds are bearing a negative carry until the deal closes soon. - The focus is on closing announced acquisitions (Vega City, Hyderabad malls, North India assets) totaling about 1.8 million sq. ft. - No explicit mention of new debt or equity fund raises beyond this acquisition pipeline and the management is focused on closing the existing transactions.

- Acquisition of Vega City mall is expected to close soon; the deal was delayed due to administrative issues (Page 6, 11). - North India acquisition is in the final documentation phase, expected to close soon (Page 6, 11). - Pipeline includes about 3-4 more assets under bilateral discussions beyond announced 1.8 million sq ft acquisitions (Page 11). - Target to add about 2 to 3 malls every year; pipeline is strong and progressing (Page 11). - Investment in advanced mall advertising technology with installation of multiple anamorphic cuboid screens in malls (Nexus Hyderabad, Seawoods, Vijaya Chennai) and plans for 4-5 more; this leverages an asset-light model with minimal investment (Page 5). - Continued investment in marketing initiatives and experiential events to drive footfalls and consumption (Page 5, 10).

- Long-term consumption growth is expected around 7%-7.5%; currently at 6% with potential improvement as government’s INR 1 lakh crore stimulus starts circulating (Dalip Sehgal, p14). - Nine months NOI growth stood at 6% with rental escalations contributing 4%-4.5%, re-leasing spreads adding 1%-1.5%, and flat revenue share (Rajesh Deo, p14). - Consumption growth and NOI growth are expected to track closely going forward (Pratik Dantara, p13). - The government’s tax relief measures are expected to boost disposable incomes and discretionary spending, supporting consumption growth (p3). - Retail leasing demand remains robust with 97.6% occupancy and healthy 20%+ spreads on re-leasing (p4). - New experiential marketing initiatives and diversified income streams like ticketed events and advertising aim to increase footfalls and revenue (p10). - Acquisition pipeline strong, with 2-3 malls targeted for addition in FY26 to support growth (p11).

- Long-term NOI growth target is around 7%-7.5% annually, with current nine-month NOI growth at 6%. - DPU growth is expected to track NOI growth directionally, around 5-6% annualized (INR 8.4 per unit forecast). - Consumption growth is anticipated to improve due to INR 1 lakh crore government stimulus, potentially pushing consumption growth closer to long-term 7-8% trends. - Rental escalations and re-leasing spreads (20% on expiring leases) contribute positively to NOI, with around 4-4.5% from rental escalations and 1-1.5% from re-leasing spreads. - Revenue share is currently flat; future growth tied to consumption improvements. - Acquisition pipeline and asset additions (e.g., Vega City and Hyderabad malls) expected to contribute to portfolio growth and profitability. - Operating costs under control, with a 3% YoY increase and debt cost reduced by 30 bps, supporting margin stability (NOI margin ~74%-75%).

The transcript does not explicitly mention a "current or expected orderbook" or "pending orders" in the traditional sense related to construction or manufacturing. However, related to acquisitions and pipeline of malls: - Announced acquisitions: Approximately 1.8 million square feet including Vega City mall, Hyderabad malls, and North India acquisitions. - Additional pipeline: 3 to 4 more mall assets are in active discussions, expected to close in FY26. - Acquisition pipeline is described as strong, with focus currently on closing ongoing transactions. - Target of adding 2-3 malls every year remains on track though slightly delayed. - Vega City acquisition delayed due to administrative issues but expected to close soon. - North India acquisition in the last phase of documentation and expected to close soon. No specific numeric orderbook or pending order value is provided.