Nexus Select Trust to acquire Guwahati Mall, hotel for Rs
1600 crore
Sept 09, 2026
The transaction is expected to be NAV and distribution per
unit (DPU) accretive, while Nexus’ loan-to-value ratio is expected to remain
below 20 per cent post acquisition. The deal implies
an 8.25-8.50 per cent acquisition cap rate for the mall and an 11.5-12.5x
EBITDA multiple for the hotel.
Nexus Select Trust today announced that it is entering the
Northeast market with the acquisition of 100 per cent stake in the upcoming
Galaxy Complex in Guwahati for Rs 1,600 crore. The project comprises a 0.5
million square feet Grade-A mall and a 164-key Hyatt Regency hotel in Beharbari.
The assets will be developed by the seller to mutually
agreed specifications, with Nexus taking operational responsibility after
construction and receipt of necessary approvals. The consideration will be paid
upon completion and is proposed to be funded through about 40 per cent debt,
with the balance through fresh unit issuance and a unit swap.
The transaction is expected to be NAV and distribution per
unit (DPU) accretive, while Nexus’ loan-to-value ratio is expected to remain
below 20 per cent post acquisition. The deal implies
an 8.25-8.50 per cent acquisition cap rate for the mall and an 11.5-12.5x
EBITDA multiple for the hotel.Dalip
Sehgal, executive director and CEO, Nexus Select Trust said, "This
acquisition translates our stated ambition for East and Northeast India into
action. The transaction allows us to secure a first-mover position in
strengthening our wider presence in East and Northeast India."
Nexus said that this acquisition will enable them to scale
across East India’s key consumption hubs like Kolkata, Guwahati, Siliguri,
Patna, Bhubaneswar, Ranchi and Jamshedpur.
"Our ambition is to build East India portfolio
generating over INR 600 crore of NOI, contributing more than 25 per cent of our
existing portfolio NOI,” Sehgal added.
The Guwahati transaction is Nexus’ first under-construction
development deal in Northeast India and its second since listing. The company
said Guwahati, with a population of more than 2 million, is significantly
undersupplied in Grade-A retail and serves as a gateway to the eight
northeastern states with a catchment of more than 50 million people.
Manoj Kayal and Deepak Kayal, promoters, Galaxy Infra Creations Private Limited, said, “We are pleased to partner with Nexus, India’s largest Grade-A urban consumption centre platform. Galaxy Complex has been envisioned as a landmark mixed-use development that will bring together high-quality retail, hospitality, commercial and residential infrastructure in one of Northeast India’s fastest-growing markets."