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The net operating income (NOI) of Brookfield India Real Estate Trust increased by a significant 16% year over year to INR 488.5 crore for the quarter that ended in March. It also declared a distribution of INR 319 crore to unitholders, marking a 10.5% increase from the previous quarter. For the full 2024-25 fiscal year, NOI climbed 37% to INR 1,854 crore, with total distributions rising to INR 1,053.7 crore. The REIT also recorded strong leasing activity of nearly 3 million square feet, reflecting demand recovery, especially across its SEZ assets. Its CEO noted sustained investor confidence, highlighting a capital raise of INR 4,700 crore and plans for future growth.
Brookfield India Real Estate Trust reported a 16% year-on-year increase in its net operating income (NOI), which stood at INR 488.5 crore for the quarter that ended in March. This marked a significant rise compared to the INR 422 crore recorded during the same period last year. Advertisement
The Trust also announced a distribution of INR 319.1 crore-translating to INR 5.25 per unit-for the March quarter, which reflected a 10.5% increase over the final quarter of the 2023-24 financial year, as per details submitted in a regulatory filing.
Over the full 2024-25 fiscal year, Brookfield India REIT's NOI surged by 37%, climbing to INR 1,854 crore from the previous fiscal's INR 1,350 crore. Additionally, the company declared total distributions of INR 1,053.7 crore (equivalent to INR 19.25 per unit) for the fiscal year, registering an 8.5% increase compared to the preceding financial year.
Alok Aggarwal, the company's CEO and Managing Director, commented that the fiscal year had been one of exceptional overall performance, marked by strong leasing, double-digit same-store growth, increased distributions, and a significant acquisition. He emphasised that the capital raise of INR 4,700 crore underpinned investor trust in Brookfield's long-term strategic outlook. He further shared that the Trust had 2 million square feet under conversion across its SEZ properties and a healthy leasing pipeline, which placed the company in a favourable position for sustained growth in the coming year.
Brookfield India REIT recorded gross leasing of approximately 3 million square feet, comprising 2.2 million square feet of new leases and 0.8 million square feet of lease renewals. Over half of this leasing activity occurred within SEZ assets, signalling a steady recovery in market demand.
Currently, Brookfield India REIT manages ten Grade A commercial assets located across Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio comprises a total leasable area of 29 million square feet, including 24.5 million square feet of operational space, 0.6 million square feet under construction, and 3.9 million square feet earmarked for future development.
The company's ability to raise substantial capital and invest in asset development underlines its long-term growth potential. With ongoing projects and a diversified, Grade A portfolio in prime urban markets, Brookfield India REIT is poised to retain momentum in the coming quarters.
Source: PTI
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