Nexus Select Trust has entered into an agreement to acquire Diamond Plaza mall in Kolkata for ₹347.5 crore. The proposal has been approved by the board of Nexus Select Mall Management.
The acquisition will be completed through the purchase of Super Diamond Enterprises, the entity that owns the asset. The structure involves carving out non-related businesses before the transfer.
The deal will be executed through Nexusmalls Whitefield Private Limited and is expected to close within 4 months, subject to standard conditions.
Diamond Plaza is located on Jessore Road in Dumdum and has been operational since 2011. The mall has a gross leasable area of about 244,000 square feet.
The property is fully leased. Rentals are around ₹124 per square foot per month, which is in line with prevailing rates in the area. The asset is owned by the Diamond Group, a Kolkata-based real estate developer led by the Kajaria family.
The mall reported estimated revenue of ₹40.1 crore in FY25, compared with ₹37 crore in FY24. The increase shows steady leasing income and stable occupancy.
The acquisition is expected to add an income-generating asset to the trust’s portfolio. No additional financial changes or projections have been disclosed in the filing.
Blackstone Group-backed Nexus Select Trust owns 19 retail properties across 15 cities, with a total leasable area of about 10.7 million square feet.
Portfolio occupancy stood at around 97% as of December 2025. Tenant sales across its malls reached ₹10,800 crore in the first 9 months of FY26.
The trust has indicated a distribution of ₹9.1-9.2 per unit and a 15% increase in net operating income for FY26, compared with ₹1,711 crore in FY25.
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As of April 8, 2026, 1:23 pm, Nexus Select Trust share price was trading at ₹155.35, a 2.41% increase from the previous closing price.
The deal introduces a new asset in eastern India for the trust, expanding its existing portfolio base. Completion will depend on the fulfilment of agreed terms and approvals.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 8, 2026, 2:08 PM IST
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