Nexus Select Trust to acquire Vega City Mall in Bengaluru for Rs 8.77 Bn
ECONOMY & POLICY

Nexus Select Trust to acquire Vega City Mall in Bengaluru for Rs 8.77 Bn

Nexus Select Trust, a REIT backed by rent yielding retail assets, will acquire a shopping mall in Bengaluru for Rs 8.77 billion. According to the latest regulatory filing, the Board of Directors of Nexus Select Mall Management Pvt Ltd -- the manager to Nexus Select Trust -- has approved the acquisition of Vega City Mall in Bengaluru.

The asset consist of a fully functional mall having a total area of 0.45 million sq ft from Blue Horizon Hotels as well as land on which the mall is constructed, presently owned by A S Muniswamy Raju HUF, for a total purchase consideration not exceeding Rs 8.77 billion or for a consideration as may be mutually agreed by the parties to the transaction.

The acquisition by Nexus Select Trust will be through its special purpose vehicle Vijaya Productions Pvt Ltd.

The deal is subject to execution of the transaction documents and fulfilment of customary and commercially agreed closing conditions. Vijaya Productions Pvt Ltd will be paying cash consideration for acquisition of the mall and the land. The deal is expected to conclude next week.

The land, currently owned by the A S Muniswamy Raju HUF, has been leased to the Blue Horizon Hotels Pvt Ltd under a leasing arrangement. "With this proposed acquisition, Nexus Select Trust, will consolidate its presence in Bengaluru and aim to benefit from embedded upsides from potential operational synergies," the filing said.

Nexus Select Trust's portfolio comprises 17 shopping malls with a gross leasable area of 9.9 million sq ft spread across 14 cities in India, two complementary hotel assets (354 keys) and three office assets with a gross leasable area of 1.3 mn sq ft. Its retail real estate assets have a tenant base of 1,000+ domestic and international brands spanning across around 3,000 stores

Nexus Select Trust, a REIT backed by rent yielding retail assets, will acquire a shopping mall in Bengaluru for Rs 8.77 billion. According to the latest regulatory filing, the Board of Directors of Nexus Select Mall Management Pvt Ltd -- the manager to Nexus Select Trust -- has approved the acquisition of Vega City Mall in Bengaluru. The asset consist of a fully functional mall having a total area of 0.45 million sq ft from Blue Horizon Hotels as well as land on which the mall is constructed, presently owned by A S Muniswamy Raju HUF, for a total purchase consideration not exceeding Rs 8.77 billion or for a consideration as may be mutually agreed by the parties to the transaction. The acquisition by Nexus Select Trust will be through its special purpose vehicle Vijaya Productions Pvt Ltd. The deal is subject to execution of the transaction documents and fulfilment of customary and commercially agreed closing conditions. Vijaya Productions Pvt Ltd will be paying cash consideration for acquisition of the mall and the land. The deal is expected to conclude next week. The land, currently owned by the A S Muniswamy Raju HUF, has been leased to the Blue Horizon Hotels Pvt Ltd under a leasing arrangement. With this proposed acquisition, Nexus Select Trust, will consolidate its presence in Bengaluru and aim to benefit from embedded upsides from potential operational synergies, the filing said. Nexus Select Trust's portfolio comprises 17 shopping malls with a gross leasable area of 9.9 million sq ft spread across 14 cities in India, two complementary hotel assets (354 keys) and three office assets with a gross leasable area of 1.3 mn sq ft. Its retail real estate assets have a tenant base of 1,000+ domestic and international brands spanning across around 3,000 stores

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?