Centuria Capital Group (ASX:CNI), a constituent of the S&P/ASX 200, delivered its FY26 results on 27 August 2026, reporting record Group AUM of $22.2 billion, Operating Net Profit After Tax (ONPAT) of $113.8 million (up 12.9%) and Operating Earnings Per Security (OEPS) of 13.6 cents (up 11.5%). The company guided FY27 ONPAT of $130 million — a 14% increase — supported by its diversified real estate platform and the emerging AI infrastructure contribution from its ResetData joint venture, which is beginning to deploy GPU infrastructure across 10MW of near-term power capacity.

About the Company

Centuria Capital Group (ASX:CNI) is an ASX-listed diversified real estate Fund Manager and investor, managing office, industrial, agricultural, healthcare and infrastructure real estate Assets for institutional and retail investors across Australia. The group's principal operating segments are Property Funds Management, Property Investment, Property and Development Finance, and ResetData — a data centre joint venture targeting AI and GPU infrastructure deployment. Centuria recently acquired the Arrow Primary Infrastructure Fund, expanding its platform into infrastructure.

Recent Development

Centuria Capital released its FY26 results on 27 August 2026. ONPAT was $113.8 million (FY25: $100.8 million), up 12.9%. OEPS was 13.6 cents, up 11.5% above FY25. Distributions per security were 10.4 cents. Statutory NPAT attributable to CNI securityholders was $56.5 million. Operating EBITDA grew to $182.5 million, supported by 23% period-on-period growth in Property Funds Management recurring revenues, transaction activity and performance fees. Group AUM was a record $22.2 billion; $1.2 billion of real estate acquisitions were completed during FY26. Net Asset Value per security was $1.76. Cash and undrawn Debt totalled $445 million with Balance Sheet gearing at 5.1%. During 2H FY26, a fully underwritten $300 million Equity raise was completed. ResetData's FY26 operating EBITDA loss of $10.9 million (net loss to Centuria $5.9 million) reflects the scale-up phase ahead of expected earnings contribution. ResetData is deploying GPU infrastructure across a portion of 10MW of near-term power capacity and the Centuria data centre potential pipeline has increased to 250MW+. FY27 guidance: ONPAT $130 million (up 14%), OEPS 13.0 cents, DPS 10.4 cents.

Sector Context

Centuria Capital operates at the intersection of traditional real estate fund management and the emerging AI-driven data centre infrastructure sector. Its core Property Funds Management Business benefits from the same structural tailwinds supporting other ASX-listed property fund managers: institutional and SMSF Demand for real estate income, limited new Supply of quality commercial and industrial assets, and the structural growth of the alternative Asset Class in Investment portfolios. ResetData adds optionality on the AI infrastructure wave, with the 250MW+ pipeline representing substantial potential future AUM and earnings if successfully developed and leased.

Risks and Uncertainty

ResetData is currently loss-making ($10.9 million EBITDA loss in FY26) as it invests in GPU infrastructure ahead of revenue generation. The pace and magnitude of future revenue from ResetData is uncertain and depends on successful capital deployment, data centre development and customer leasing at competitive rates. The $300 million equity raise dilutes existing securityholders while providing capital to execute the AI infrastructure strategy. The weighted average cost of debt at 7.8% is above longer-run historical norms, adding pressure on returns from property fund assets financed at current rates.

Catalysts Investors Can Watch

ResetData's transition from loss-making to earnings-positive will be the most closely watched milestone as GPU infrastructure is deployed and revenue contracts are signed. Progress on the 250MW+ data centre pipeline — specifically the quantum of capacity under binding leases or advanced discussions — will determine the magnitude of the AI infrastructure opportunity. FY27 ONPAT delivery against the $130 million guidance will confirm whether the underlying funds management platform is growing as projected, independent of the ResetData execution timeline.