Brookfield India REIT Reports 13% Increase in Q1 Net Operating Income
Brookfield India Real Estate Trust has posted a robust 13 per cent increase in its net operating income for the first quarter of this fiscal year, which the company attributes to healthy leasing momentum and encouraging occupancy levels.
Its Net Operating Income (NOI), which is revenue from operations minus direct operating expenses, stood at ₹498.6 crore in the first quarter of this fiscal year, compared to ₹439.9 crore in the year-ago period, according to a regulatory filing on Friday.
The company, an institutionally-managed real estate investment trust (REIT) backed by rent-yielding office assets, has announced a distribution of ₹319 crore to unitholders (₹5.25 per unit) for the June quarter of the 2025-26 fiscal year.
Alok Aggarwal, Chief Executive Officer and Managing Director of Brookfield India REIT, stated, “The fiscal year began on a strong note with healthy leasing momentum, robust occupancy levels, and continued growth in distributions. Our operating performance remains resilient on steady demand for our high-quality assets across key markets.”
Brookfield India REIT also plans to raise up to ₹1,000 crore through the issue of preferential units to investors, which will be issued at ₹310 per unit. It will issue up to 3.23 crore units.
Aggarwal added, “Our proposed fund raise of ₹10 billion through preferential issue will further strengthen our ability to pursue large growth opportunities. This fund raise, combined with the ₹3,500 crore raised in December 2024, will strengthen our capacity to pursue large growth opportunities.”
The REIT is in talks with the sponsor group for potential acquisition of Grade A properties across Bengaluru and Chennai. It has leased 6.51 lakh square feet area in the June quarter, and the occupancy level has improved to 89 per cent.
Brookfield India REIT has 10 Grade A commercial assets in Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio consists of 29 million square feet of total leasable area, comprising 24.5 million square feet of operating area, 0.6 million square feet of under construction area, and 3.9 million square feet of future development potential.
