Brookfield India REIT Sees 40% Rise in Net Operating Income to Rs 485.8 Crore in Q2 FY25
Brookfield India Real Estate Trust reported a significant 40% increase in net operating income to Rs 485.8 crore for the September quarter. The company also plans to raise up to Rs 3,500 crore through institutional placements.
Brookfield India ReitNet Operating IncomeReal Estate InvestmentInstitutional PlacementCorporate GrowthReal EstateNov 07, 2024
NEW DELHI Brookfield India Real Estate Trust (BIREIT) reported a substantial 40% increase in net operating income to Rs 485.8 crore for the July-September quarter. This is a significant jump from Rs 346.7 crore in the same period last year. The company also announced a distribution of Rs 220.8 crore for the second quarter of the current fiscal year, mainly as a dividend to unitholders.
The board of directors of Brookprop Management Services Pvt Ltd, the manager of BIREIT, has approved the issuance of units of BIREIT through an institutional placement not exceeding Rs 3,500 crore in one or more placements. The proceeds from these placements will be used for various purposes, including the partial or full prepayment or repayment of outstanding borrowings, equity contribution, general purposes, funding operating expenses, capital expenditure, investments in creditworthy instruments, and future organic or inorganic growth opportunities.
On the operational front, BIREIT reported achieving 1 million (10 lakh) sq ft of gross leasing of office space, driven by strong market demand. BIREIT owns 10 Grade A assets located in key cities such as Delhi, Mumbai, Gurugram, Noida, and Kolkata. The total leasable area of BIREIT's portfolio stands at 28.9 million sq ft, with 24.3 million sq ft being operational, 0.6 million sq ft under construction, and 4 million sq ft with future development potential.
Brookfield India Real Estate Trust is a leading real estate investment trust (REIT) in India, managed by Brookprop Management Services Pvt Ltd. The trust aims to provide investors with exposure to high-quality commercial properties, offering stable and predictable cash flows. The recent financial performance and strategic moves highlight BIREIT's commitment to sustainable growth and value creation for its investors.
Frequently Asked Questions
What was the percentage increase in net operating income for Brookfield India REIT in Q2 FY25?
Brookfield India REIT reported a 40% increase in net operating income to Rs 485.8 crore for the July-September quarter of FY25, up from Rs 346.7 crore in the same period last year.
How much is Brookfield India REIT planning to raise through institutional placements?
Brookfield India REIT plans to raise up to Rs 3,500 crore through institutional placements in one or more placements.
What will the proceeds from the institutional placements be used for?
The proceeds will be used for various purposes, including the partial or full prepayment or repayment of outstanding borrowings, equity contribution, general purposes, funding operating expenses, capital expenditure, investments in creditworthy instruments, and future organic or inorganic growth opportunities.
How much gross leasing of office space did Brookfield India REIT achieve in Q2 FY25?
Brookfield India REIT achieved 1 million (10 lakh) sq ft of gross leasing of office space on strong demand in the July-September quarter of FY25.
What is the total leasable area of Brookfield India REIT's portfolio?
The total leasable area of Brookfield India REIT's portfolio stands at 28.9 million sq ft, comprising 24.3 million sq ft of operating area, 0.6 million sq ft of under construction area, and 4 million sq ft of future development potential.
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