Nexus Select Trust to Acquire Diamond Plaza Mall, Kolkata for ₹347.5 Crore

Nexus Select Trust has approved the acquisition of Diamond Plaza Mall, Kolkata, through its SPV Nexusmalls Whitefield Private Limited.

The acquisition will be executed via 100% stake purchase of the owning entity (Super Diamond Enterprises) after restructuring and hiving off unrelated businesses.

Asset Details

• Diamond Plaza Mall, Kolkata
• ~244,000 sq ft gross leasable area
• Established commercial retail asset

Financial Profile

• FY25 Revenue: ₹40.1 crore
• Stable operating asset with consistent revenue

Transaction Structure

• Acquisition via SPV (Nexusmalls Whitefield Pvt Ltd)
• 100% shareholding acquisition
• Cash consideration

Strategic Rationale

• Expands presence in Eastern India
• Enhances retail real estate portfolio
• Opportunity to improve asset utilization and returns

Timeline

• Expected completion: ~4 months (subject to conditions)

Key Risks

• Integration and operational efficiency risks
• Retail demand and footfall variability
• Leasing and occupancy challenges

Worst Case Scenario

Lower-than-expected returns due to weak mall performance

Risk Level: Medium

• Acquisition aligns with core business strategy
• Focus on expanding high-quality retail assets
• No related party transaction involved
• Opportunity to unlock value through optimization