CapitaLand Investment profit up 14% as fee income offsets softer revenue

Singapore-headquartered real asset manager CapitaLand Investment Limited (CLI), which is listed on the Singapore Exchange and is not an Indian-listed company, reported a 14% year-on-year rise in total profit for the first half of 2026, helped by stronger fee income and gains from asset recycling.

CapitaLand Investment is not listed on Indian stock exchanges. It is listed in Singapore under SGX ticker 9CI.

Fee income drives profit growth

CLI’s total PATMI rose to S$327 million in 1H 2026 from S$287 million a year earlier, while Operating PATMI, which excludes portfolio gains, revaluations and impairments, increased 13% to S$293 million from S$260 million.

The company’s total revenue stood at S$1.018 billion, down 2% year-on-year, as higher fee income largely offset lower contributions from divested assets. Fee-related revenue, however, climbed 20% to S$687 million.

Listed Funds Management was a key growth driver, with fee revenue rising 45% to S$224 million, supported by higher recurring fees, stronger portfolio performance and event-driven fees. Private Funds Management revenue jumped 59% to S$92 million, helped by the acquisition of private credit platform Wingate in 2025 and higher operating activity.

“Our strong 1H 2026 performance reflects the growing contribution of our fee-related business and the strength of our integrated real asset management platform,” Lee Chee Koon, Group CEO of CapitaLand Investment, said.

He added that the company was “sharpening our focus” on areas where it has scale and competitive advantages, while accelerating value realisation from non-core and legacy investments.

S$7-9 billion non-core value identified

CLI said it has identified approximately S$7-9 billion of embedded value in its non-core portfolio, comprising legacy funds, balance-sheet investments and non-strategic holdings in REITs and private funds.

The company plans to recycle proceeds into core growth opportunities and strengthen its balance sheet, while excess capital could be returned to shareholders. CLI has already completed approximately S$5 billion of gross divestments year-to-date, including a business park in India, an industrial facility in Singapore and a retail asset in China.

India business also contributes

India featured among the markets supporting CLI’s capital-recycling strategy. The company said its CapitaLand India Growth Fund II divested International Tech Park Chennai, Radial Road, at returns above target. The presentation also highlighted a performance fee from an India fund as part of its earnings contribution.

CLI said it expects continued growth in fund-management revenue in FY2026, although transaction-related activity could moderate from the strong levels recorded in the first half. END