E a r n i n g s R e v i e w
a-iTrust’s functional currency is the Indian Rupee, which is the currency that its earnings are denominated in.
The reporting currency for the Trust is Singapore dollar as distribution to unitholders is made in Singapore dollar.
FY14/15
S$’000
1
FY14/15
million
FY13/14
million
₹
INR YoY
Change
Comparison of FY14/15 to FY13/14
for Indian Rupee Earnings
Total Property Income
Base Rental Income
76,692
3,637 3,350
9% Base rental income improved as a result
of positive rental reversions in ITPC and
recognition of rental income from Aviator
building, which became operational in
January 2014.
Amenities Income
Income from leasing amenity space,
including canteen and business centre.
1,986
94
92
3% Amenities income increased by 3% to
₹
94 million.
Fit-out Rental Income
Income from providing fit-outs (including
renovations and furnishings) to tenants.
1,659
79
86
(8%)
The decrease was due to the expiry
of fit-out rental for some leases.
Operations, Maintenance and
Utilities Income
Income from providing O&M services
and utilities.
42,894
2,036 2,006
1% Operations and maintenance
(“O&M”) income remained stable
at ₹
₹
2,036 million.
Car Park and Other Income
Includes miscellaneous income such as
kiosk rental and advertising revenue.
5,528
262
240
9% The increase was mainly due to the higher
utilisation of car parking facilities in our
properties.
Total Property Income
128,759
6,108 5,774
6% Total property income increased by
6% to ₹
₹
6,108 million.
Property Expenses
Operations, Maintenance
and Utilities Expense
Costs incurred for the day-to-day running and
upkeep of our properties, which are recovered
via O&M fee from tenants. It includes
the cost of electricity supplied to tenants
from the dedicated power plant in ITPB.
(35,949)
(1,708)
(1,661)
3% The increase was largely due to increased
portfolio floor area as Aviator building
commenced operations in January 2014.
Service and Property Tax
(2,679)
(127)
(120)
6% Service and property tax increased by 6%
mainly due to Aviator building becoming
operational in FY14/15.
Property Management Fee
Fees paid to the Property Manager, which
includes property management fees, lease
management fees, marketing services
commissions and project management fees.
(6,261)
(297)
(299)
(1%)
Property management fee was stable at
₹
₹
297 million.
Other Property Operating Expenses
Includes general management and other
administration expenses.
(6,268)
(296)
(243)
22% The increase was largely due to higher
professional and consultancy fees, and an
increase in provisions for rental arrears in
FY14/15.
Total Property Expenses
(51,157)
(2,427)
(2,324)
4% Total property expenses increased by 4%
to ₹
₹
2,427 million.
1
Based on exchange rate of S$1:₹
47.5.
ASCENDAS india trust ANNUAL REPORT 2014/15
