Brookfield India REIT Reports 40% Increase in Net Operating Income to Rs 485.8 Crore in Q2 FY25
NEW DELHI: Brookfield India Real Estate Trust reported a 40% increase in net operating income to Rs 485.8 crore for the September quarter of FY25. The trust also plans to raise up to Rs 3,500 crore through the issuance of units to institutional investors
Brookfield India ReitReal EstateNet Operating IncomeInstitutional PlacementGrade A AssetsReal Estate MumbaiNov 07, 2024
In a regulatory filing, Brookfield India Real Estate Trust detailed that its adjusted net operating income surged from Rs 346.7 crore in the same period last year to Rs 485.8 crore this year. This substantial increase is a clear indication of the trust's effective management and the strong demand for Grade A office spaces in key Indian cities.
The trust also declared a distribution of Rs 220.8 crore for the second quarter to unitholders, primarily as a dividend, reinforcing its commitment to rewarding its investors. This distribution reflects the trust's financial health and its ability to generate consistent returns.
To further strengthen its financial position, the board of directors of Brookprop Management Services Pvt Ltd, the manager of Brookfield India Real Estate Trust, has approved the issuance of units of Brookfield India REIT through an institutional placement. The placement aims to raise up to Rs 3,500 crore, which will be used for various purposes, including the partial or full prepayment or repayment of outstanding borrowings, equity contributions, and funding operating expenses, capital expenditures, and future growth opportunities.
On the operational front, Brookfield India REIT has achieved a significant milestone by leasing 1 million square feet of office space, driven by strong market demand. This achievement highlights the trust's ability to attract and retain high-quality tenants in its Grade A assets.
Brookfield India REIT's portfolio is well-diversified, with 10 Grade A assets spread across key cities such as Delhi, Mumbai, Gurugram, Noida, and Kolkata. The total leasable area of the portfolio stands at 28.9 million square feet, comprising 24.3 million square feet of operating area, 0.6 million square feet under construction, and 4 million square feet of future development potential. This strategic asset mix positions the trust to capitalize on the growing demand for premium office spaces in India.
The trust's focus on reducing debt and funding future growth through strategic unit issuances demonstrates its commitment to maintaining a strong financial foundation while expanding its presence in the real estate market. With a robust portfolio and a clear growth strategy, Brookfield India REIT is well-positioned to continue delivering strong performance and value for its stakeholders.
Frequently Asked Questions
What is the net operating income reported by Brookfield India REIT for the September quarter of FY25?
Brookfield India REIT reported a net operating income of Rs 485.8 crore for the September quarter of FY25, marking a 40% increase from the previous year.
How much did Brookfield India REIT distribute to unitholders in the second quarter?
Brookfield India REIT distributed Rs 220.8 crore to unitholders in the second quarter, primarily as a dividend.
What is the purpose of the institutional placement of units approved by Brookfield India REIT?
The purpose of the institutional placement of units is to raise up to Rs 3,500 crore, which will be used for debt repayment, equity contributions, and funding operational expenses and future growth opportunities.
What is the total leasable area of Brookfield India REIT's portfolio?
The total leasable area of Brookfield India REIT's portfolio is 28.9 million square feet, including 24.3 million square feet of operating area, 0.6 million square feet under construction, and 4 million square feet of future development potential.
In which cities does Brookfield India REIT own Grade A assets?
Brookfield India REIT owns Grade A assets in Delhi, Mumbai, Gurugram, Noida, and Kolkata.
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