Indian REITs Distribute Rs 1371 Crore to Unitholders in Q1 FY24
Four publicly listed real estate investment trusts have distributed Rs 1,371 crore to their unit holders for the first quarter of this fiscal, according to industry data.
ReitsIndian Reits AssociationBrookfield India Real Estate TrustEmbassy Office Parks ReitMindspace Business Parks ReitNexus Select TrustReal EstateAug 20, 2024
The Indian REITs Association (IRA) data showed that in the latest June quarter, these four REITs have together distributed more than Rs 1,371 crore to over 2,45,000 unit holders. Since their inception over the past five years, these four REITs have collectively distributed more than Rs 18,000 crore to their unit holders.
The Indian REITs market now oversees gross Assets Under Management (AUM) of over Rs 1,40,000 crore. The portfolio managed by these REITs spans approximately 122 million square feet of Grade A office and retail space across the country.
The Indian REITs Association, a non-profit organization established under the guidance of the Securities and Exchange Board of India (SEBI) and the Ministry of Finance, counts Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust among its four founding members. Nexus Select Trust is backed by rent-yielding retail properties while the other three REITs own largely prime office space.
Recently, the government in Union Budget shortened the holding period for determining long-term capital gains for business trusts, including REITs and Infrastructure Investment Trusts (InvITs), from 36 months to 12 months, a move aimed at expanding the investor base of these products.
About Brookfield India Real Estate Trust: Brookfield India Real Estate Trust is a publicly listed REIT that owns and operates a portfolio of Grade A office spaces in India.
About Embassy Office Parks REIT: Embassy Office Parks REIT is a publicly listed REIT that owns and operates a portfolio of Grade A office spaces in India.
About Mindspace Business Parks REIT: Mindspace Business Parks REIT is a publicly listed REIT that owns and operates a portfolio of Grade A office spaces in India.
About Nexus Select Trust: Nexus Select Trust is a publicly listed REIT that owns and operates a portfolio of rent-yielding retail properties in India.
About Indian REITs Association: The Indian REITs Association is a non-profit organization established under the guidance of the Securities and Exchange Board of India (SEBI) and the Ministry of Finance to promote the growth and development of the REITs market in India.
Frequently Asked Questions
What is the total amount distributed by the four REITs to their unit holders in Q1 FY24?
Rs 1,371 crore
How many unit holders benefited from the distribution?
Over 2,45,000
What is the total amount distributed by the four REITs to their unit holders since their inception?
Over Rs 18,000 crore
What is the current gross Assets Under Management (AUM) of the Indian REITs market?
Over Rs 1,40,000 crore
What is the portfolio size of the four REITs in terms of Grade A office and retail space?
Approximately 122 million square feet
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