NTT DC REIT reported that for the financial year ended Mar, 31 2026, net property income reached about 96.7 million Singapore dollars, 2.3 % above its initial public offering (IPO) forecast of roughly 94.6 million Singapore dollars.
The trust generated distributable income of approximately 74.2 million Singapore dollars, exceeding the forecast 72.4 million Singapore dollars by 2.5 %. Distribution per unit came in at 7.18 Singapore cents, ahead of the projected 7.00 Singapore cents.
Gross revenue totalled around 212.7 million Singapore dollars, 2.5 % higher than the forecast 207.7 million Singapore dollars, supported by stronger tenant fit-out income, higher colocation revenues, lower real-estate taxes and favourable foreign-exchange movements.
As at Mar, 31 2026, the six-asset portfolio was valued at about 2.16 billion Singapore dollars, up 11.3 % from the IPO purchase consideration of roughly 1.94 billion Singapore dollars. Portfolio occupancy stood at 95.1 %, with a weighted average lease expiry of 4.5 years.
Aggregate leverage fell to 29.2 %, providing an estimated 320 million Singapore dollars of debt headroom to reach a 40 % gearing threshold. The interest coverage ratio was 4.2 times, and 70 % of total borrowings were on fixed rates, with a weighted average all-in interest rate of 4.01 %.
Operationally, the trust achieved an 8.5 % average rent reversion during the year, rising to 13.7 % when including the renewal of the SG1 Master Services Agreement with NTT Singapore, which secured a 23 % rental uplift, annual escalations of 5 % and a three-year term beginning Apr, 01 2026.
Management added that the portfolio remains 100 % unencumbered, positioning the trust to pursue further acquisitions from its sponsor’s right-of-first-refusal pipeline and explore a potential revision to its management fee structure, with an extraordinary general meeting targeted by the third quarter of FY26/27.
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