NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has reported a growth of 11 per cent in its adjusted net operating income (NOI) from Rs 4,534 million in Q3 FY24 to Rs 5,037 million in Q3 FY25.
“Occupancy rose by 7.7% year-over-year to 87%, in line with guidance. As a result, our net operating income grew 17% year-over-year,” said Alok Aggarwal, CEO and managing director of the company.
The board of directors of Brookprop Management Services, the manager of Brookfield India REIT, have declared distribution of Rs 2,977.98 million/Rs 4.90 per unit for the quarter ended December 31, 2024. The distribution comprises of Rs 942.01 million/Rs 1.55 per unit in the form of interest payment on shareholder loan, CCDs and NCDs, Rs 1,343.13 million/Rs 2.21 per unit in the form of repayment of SPV debt and NCDs, Rs 638.14 million/Rs 1.05 per unit in the form of dividend and the balance Rs 54.70 million/Rs 0.09 per unit in the form of interest on fixed deposit.
The company achieved 1.1 million sq ft of gross leasing with an average re-leasing spread of 14%. Operating lease rentals grew by 13% year-on-year from Rs 3,927 million in Q3 FY24 to Rs 4,426 million in Q3 FY25.
It raised Rs 35 billion through a QIP which saw participation from foreign and domestic institutional investors like the International Finance Corporation (part of the World Bank group), Life Insurance Corporation of India, SBI Mutual Fund, among others.
During 9M FY25, it completed the acquisition of a 50% stake in a 3.3 million sq ft commercial portfolio in Delhi- NCR from Bharti Enterprises for Rs 12,280 million and issued 40.93 million units to Bharti Enterprises at Rs 300 per unit (18.5% premium to floor price).
