Currency ImpactDPU from the trust will be negatively impacted on a lagged basis if the INR depreciates, despite hedging each half-yearly distribution.
Economic OutlookDeterioration in the Indian economic outlook or companies outsourcing operations to India may negatively impact demand for space and rents.
Interest Rate RiskInterest rate hikes will result in higher interest payments which would reduce income available for distribution, though this risk is partially mitigated by the fact that over 75% of the trust’s debt is fixed.