CY6U.SI
SGX50SESCapitaLand India Trust
Real Estate · Real Estate Services · Singapore
CapitaLand India Trust (CLINT or the Trust) is Singapore's first listed property trust, which owns eight world-class IT business parks, three industrial facilities, one logistics park and three data centre developments in India, valued at S$3.8 billion as at 31 December 2025. With a total completed floor area of 21.7 million square feet spread across Bangalore, Chennai, Hyderabad, Pune and Mumbai, CLINT is focused on capitalizing on the growing IT industry, industrial and logistics asset class, and new economy asset classes, such as data centres. CLINT is structured as a business trust, offering stable income distributions similar to a real estate investment trust. CLINT focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio and acquiring new properties. CLINT's properties provide modern and high-quality business spaces to its tenants. This helps CLINT attract and retain prominent tenants that commit to long leases, thereby fostering a stable income profile for the Trust. The Trust's growth is founded on a prudent approach to capital management. CLINT is geared towards maintaining a strong balance sheet that meets the liquidity needs of the business CapitaLand India Trust was established on December 07, 2004 and incorporated in Singapore.
www.clint.com.sg ↗Shares trade at a low 4.3× trailing earnings, easing to 12.0× on forward estimates. Profitability shows a net margin of 161.2% and return on equity of 29.1%. Leverage is high at 5.2× net debt/EBITDA. Revenue grew 14.6% year-on-year. It yields 7.8% in dividends. The mean analyst target of SGD1.33 sits 29.4% above the current price (no rating, 4 analysts).
business model
CapitaLand India Trust is a Singapore-listed business trust (not a REIT) that owns and develops income-producing real estate in India, giving it flexibility to undertake ground-up development as well as hold stabilised assets. Formerly Ascendas India Trust, it is sponsored and managed by CapitaLand Investment. As at end-2025 its roughly S$3.8 billion portfolio comprised IT business parks, industrial/logistics facilities and data-centre developments across major Indian cities.
revenue segments
Income is dominated by IT business parks leased to technology and multinational tenants, complemented by industrial and logistics facilities and a growing data-centre development segment. Its assets are located in Bangalore, Chennai, Hyderabad, Pune and Mumbai, with tenants including Tata Consultancy Services, Infosys, Amazon and other multinationals.
key dependencies
It depends on India's IT/office leasing demand, the Indian rupee versus the Singapore dollar, execution of its development and data-centre pipeline, sponsor CapitaLand Investment for capital and management, and Indian financing and interest-rate conditions. Multinational and Indian IT sector health is a key driver of occupancy and rents.
competitors
Competes for tenants and assets with Indian-listed office REITs such as Embassy Office Parks REIT, Brookfield India Real Estate Trust and Mindspace Business Parks REIT, and with domestic developers, while competing for Singapore investor capital with other overseas-focused trusts.
moat
Its business-trust structure allows value creation through development and forward-purchase deals that pure REITs cannot easily do, backed by CapitaLand's Indian operating platform, strong occupancy, high rental reversions and a diversified base of blue-chip multinational tenants. Early positioning in Indian data centres adds a growth avenue.
risks
Risks include rupee depreciation eroding distributions, development and leasing execution risk, concentration in the IT/office sector amid hybrid-work trends, rising interest costs, and Indian regulatory, tax and property-market uncertainties.
Financials & metrics
as of 04 Jul 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.