Brookfield India REIT Q1 Net Operating Income Rises 13% to Rs 499 Cr

Brookfield India Real Estate Trust has posted 13 per cent increase in its net operating income to Rs 498.6 crore for the first quarter of this fiscal year and announced plans to raise up to Rs 1,000 crore through issue of preferential units to investors.

Its Net Operating Income (NOI), which is revenue from operation minus direct operating expenses, stood at Rs 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, announced distribution of Rs 319 crore to unitholders (Rs 5.25 per unit) for June quarter of 2025-26 fiscal.

Brookfield India REIT also plans to raise up to Rs 1,000 crore through issue of preferential units to investors. It will issue up to 3.23 crore units at Rs 310 per unit.

"The fiscal year began on a strong note with healthy leasing momentum, robust occupancy levels, and continued growth in distributions," said Alok Aggarwal, Chief Executive Officer and Managing Director, Brookfield India REIT.

He noted that the company's operating performance remains resilient on steady demand for its high-quality assets across key markets.

The company leased 6.51 lakh square feet area in the June quarter. The occupancy level has improved to 89 per cent.

"Our proposed fund raise of Rs 10 billion through preferential issue will further strengthen our ability to pursue large growth opportunities," Aggarwal said.

The board has approved a preferential issue of Rs 1,000 crore to a mix of investors including corporate treasuries, family offices and high net-worth individuals.

"This fund raise, combined with the Rs 3,500 crore raised in December 2024, will strengthen our capacity to pursue large growth opportunities," the company said.

Brookfield India REIT also said that it is in talks with the sponsor group for potential acquisition of grade A properties across Bengaluru and Chennai.

The REIT has 10 Grade A commercial assets in Delhi, Mumbai, Gurugram, Noida, 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.