Singapore-listed Ascendas India Trust (SGX:CY6U) has reported virtually no increase in property income for the first quarter of FY13/14 when compared to the corresponding quarter in FY12/13. Total property income reported in at 1392 million rupees, virtually unchanged from the 1391 million rupees a year ago.

Ascendas India Trust remains optimistic about the future despite the latest results.

DPU remained flat at 0.51 Rupees per unit, similar to what was paid in the corresponding quarter in FY12/13. However when converted to Singapore dollars, it represents a contraction of 5 percent due to the slide in the Rupee against the Singapore dollar.

However Ascendas India Trust remain optimistic about the future citing several factors that are in the pipeline.

Ascendas India Trust is a Singapore-listed Business Trust established with the principal objective of owning income-producing real estate used primarily as business space in India. As at 30 June 2013, Ascendas India Trust has a diversified portfolio of five IT parks across the primary IT centres of India. Units of Ascendas India Trust are currently trading at S$0.71 on the SGX.

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