Nexus Select Trust plans to deploy up to ₹2,000 crore towards acquisitions this year as it expands its retail real estate footprint in eastern and northeastern India, Chief Investor Relations Officer and Head of Strategy Pratik Dantara said.

The company’s proposed acquisition of Kolkata’s Diamond Plaza mall is expected to close within the next one-and-a-half to two months, pending the completion of legal and corporate restructuring processes. Dantara said the acquisition forms part of Nexus Select’s “string of pearls” strategy, wherein smaller assets are acquired alongside larger properties to generate operating synergies and improve scale within a market.

Beyond Kolkata, the REIT is actively evaluating opportunities across the Northeast and states adjoining West Bengal. Two additional acquisition deals are currently in advanced stages and could be completed over the next three to six months, he said.

Dantara said the Northeast has emerged as an attractive consumption market, particularly for beauty and personal care products. Internal consumer studies indicate spending in categories such as skincare, cosmetics, and personal care is significantly higher than the national average, with consumers often travelling to larger cities to access premium brands.

The company is also seeing sustained consumption momentum across its portfolio. After reporting 19 per cent consumption growth in the March quarter, Nexus Select recorded high double-digit growth in both April and May.

According to Dantara, higher domestic spending, strong food court sales and resilient discretionary consumption have helped offset concerns around inflation and broader macroeconomic uncertainties.

“We were expecting the first quarter to be softer, but so far it has been a pleasant surprise,” he said.

Published on June 5, 2026