Page 43 - ar2012

Overall, total portfolio valuation rose 9% in INR
terms with the inclusion of aVance. Excluding
aVance, total portfolio valuation rose 4% to INR
34,825 million. The increase in ITPB’s valuation
was supported by the valuation gains recognised
on the completion of Voyager in FY2011/12.
Valuations for individual properties in SGD terms
declined due to the appreciation of SGD against
the INR.
36Calculation of year-on-year change for ITPB uses Voyager’s construction in progress valuation for FY2010/11.
Appraised value
31 March 2012
INR
(mil)
Change
(%)
Change
(%)
S$
(mil)
ITPB (including Voyager36 &
Park Square)
aVance
The V
CyberPearl
Portfolio
ITPC (including Zenith)
Portfolio
(excluding aVance)
17,868
9,060
5,973
1,924
1,882
36,707
34,825
6
2
1
-
NM
9
4
446.7
226.5
149.3
48
47.1
917.7
870.6
(6)
(9)
(10)
(11)
NM
(3)
(8)
Operational & fnancial review
Total assets grew by 13% to INR 42,526 million
largely due to the acquisition of aVance, and
completion of Voyager. Total borrowings rose
by 68% to INR 9,963 million, partly due to
the drawdown of an INR 1,987 million loan to
fnance the acquisition of aVance. NAV remained
stable at INR 28.4 per unit. In SGD terms, the
strengthening of SGD led to the decline of NAV
by 11% to S$0.71 per unit.
Balance sheet highlights
31 March 2012
INR
(mil)
Change
(%)
Change
(%)
S$
(mil)
Total assets
Net asset value per unit
(“NAV”)
Total borrowings
Net assets attributable
to unitholders
Total liabilities
42,526
19,019
9,963
21,869
28.4
13
33
68
1
-
1,063
475
249
547
0.71
1
18
50
(10)
(11)
A-ITRUST ANNUAL REPORT 2011/2012 41