Investment Analyst / Associate REITs & InvITs

Job Responsibilities:

• Investment Analysis & Financial Modelling:

1. Build and maintain detailed financial models for REITs and InvITs, incorporating SPV and holding company structures.
2. Analyze Net Distributable Cash Flows (NDCF), cash flow waterfalls, and distribution mechanisms.
3. Evaluate investment returns including HTM IRRs and exit IRRs under different scenarios.

• Sector & Product Expertise:

1. Develop deep understanding of REIT and InvIT structures, regulatory frameworks, and taxation implications.
2. Analyze key REIT metrics including cap rates, cash yields, occupancy trends, and rental growth assumptions.
3. Conduct relative value analysis across listed REITs and comparable assets.

• Transaction Execution:

1. Participate in primary and secondary market transactions including QIPs, preferential allotments, institutional placements, and block/secondary trades.
2. Support deal evaluation, pricing, and execution in coordination with internal and external stakeholders.

• Portfolio Monitoring & Research:

1. Track portfolio performance, asset-level developments, and market trends.
2. Prepare investment notes, IC memos, and periodic performance updates.

• Management Interaction & Due Diligence:

1. Engage with management teams of REITs/InvITs to assess strategy, pipeline, capital allocation, and operational performance.
2. Conduct ongoing due diligence through meetings, earnings calls, and site-level insights.

Academic Qualification and Experience:

1. Strong financial modelling and valuation skills, particularly in cash flow-driven assets
2. Understanding of structured finance, SPV/holding structures, and distribution waterfalls
3. Knowledge of REIT/InvIT regulations, taxation, and capital markets instruments
4. Ability to interpret macro factors such as interest rates and their impact on yield products
5. Strong analytical, communication, and stakeholder management

Knowledge, Competency and Skills requirement:

1. Experience in investment management, infrastructure/real estate finance, or structured products
2. Exposure to capital markets transactions and institutional investing