The REIT has a portfolio of 17 Grade A urban consumption centers with a total leasable area of 9.2 million square feet (msf), two complementary hotel assets with 354 keys, and three office assets with 1.3 msf. These assets are strategically located across 14 leading cities in India, which account for 30% of India’s total discretionary retail spending. The cities have an average population growth rate that is 226 basis points higher than the national average.

The REIT’s assets are located in prime in-fill locations of India’s major cities, such as Delhi, Navi Mumbai, Bengaluru, Pune, Hyderabad, and Chennai. These cities have limited organized retail stock and continue to see strong demand fundamentals as domestic and international retailers expand their businesses. The future supply of retail space in these cities is also expected to remain constrained.

A majority of the REIT’s portfolio assets are market leaders in their respective submarkets and serve as shopping, entertainment, and social destinations for their respective catchments. As a result, the REIT has a 96.2% average committed occupancy across its portfolio, a 11% compound annual growth rate (CAGR) in tenant sales from FY 2018 to FY 2021, and a 7.5% CAGR in marginal rents across its portfolio from CY 2016 to CY 2019.