Investment Analyst / Associate – REITs & InvITs

Job Responsibilities

• Investment Analysis & Financial Modelling:
• Build and maintain detailed financial models for REITs and InvITs, incorporating SPV and holding company structures.
• Analyze Net Distributable Cash Flows (NDCF), cash flow waterfalls, and distribution mechanisms.
• Evaluate investment returns including HTM IRRs and exit IRRs under different scenarios.
• Sector & Product Expertise:
• Develop deep understanding of REIT and InvIT structures, regulatory frameworks, and taxation implications.
• Analyze key REIT metrics including cap rates, cash yields, occupancy trends, and rental growth assumptions.
• Conduct relative value analysis across listed REITs and comparable assets.
• Transaction Execution:
• Participate in primary and secondary market transactions including QIPs, preferential allotments, institutional placements, and block/secondary trades.
• Support deal evaluation, pricing, and execution in coordination with internal and external stakeholders.
• Portfolio Monitoring & Research:
• Track portfolio performance, asset-level developments, and market trends.
• Prepare investment notes, IC memos, and periodic performance updates.
• Management Interaction & Due Diligence:
• Engage with management teams of REITs/InvITs to assess strategy, pipeline, capital allocation, and operational performance.
• Conduct ongoing due diligence through meetings, earnings calls, and site-level insights.

Academic Qualification and Experience

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

Knowledge, Competency and Skills requirement

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