Why CLINT's 22% Surge is a "Tax Gambit" (S-REIT Secrets) |🦖EP1406 #investingiguana
🟩 In this deep-dive, Iggy breaks down CapitaLand India Trust’s FY 2025 results and asks a simple question: is CLINT a tax-optimised dividend machine or a growth slowdown in disguise? We walk through the 15% DPU surge, the “onshore debt” tax-arbitrage gambit, and how capital recycling and asset divestments are powering distribution growth ahead of property income.
You’ll see why a 5.7% yield plus 15% DPU growth looks incredible on the surface, but also where the cracks might form: Pune’s weak occupancy, TCS tenant concentration risk, gearing creeping towards 40%, and a S$420M data centre capex bill due in 2026. We also break down key metrics like rental reversions, interest coverage ratio, and capital expenditure so you can read CLINT’s slide deck like a pro.
Read the full in-depth article with video at
YOUTUBE ➡️ https://youtu.be/3dkn_eO4t-I
SUBSTACK ➡️ https://open.substack.com/pub/investingiguana/p/clint-fy-2025-the-tax-optimized-dividend?r=5enmf1&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
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