Brookfield India Real Estate Trust (BIRET) plans to acquire a large office campus, covering 7.7 million sq ft, in Bengaluru for ₹ 13,125 crore to expand its portfolio.
In a regulatory filing on Tuesday, the BIRET reported that its Net Operating Income (NOI) increased 13 % to ₹ 509.4 crore during July-September quarter from ₹ 451.2 crore in the year-ago period.
The company declared distribution of ₹ 336 crore to unit holders (₹ 5.25 per unit) for the second quarter of FY26, up 14 % year-on-year. The distribution includes dividends and other items.
The Board of Directors of Brookprop Management Services Pvt Ltd, which is manager of the BIRET, approved the acquisition of up to 100 % of the issued and paid-up equity share capital of Arliga Ecoworld Business Parks Pvt Ltd at an acquisition price of ₹ 13,125 crore from the existing shareholder of Ecoworld SPV.
The existing shareholders of Ecoworld SPV are BSREP III New York FDI I (DIFC) Ltd (including its nominee, BSREP III New York II (DIFC) Limited), forming part of the Brookfield group.
The proposed acquisition will fall in related party transaction done at arm length basis, the company said.
The acquisition will increase consolidated GAV (gross asset value) by 35 % and operating area by 31 %.
"Building on our strong inorganic growth track record, we announced the proposed acquisition of Ecoworld, which is a 48-acre, 7.7 million square feet office campus located on the Outer Ring Road in Bengaluru," said Alok Aggarwal, Chief Executive Officer and Managing Director, Brookfield India Real Estate Trust.
"This acquisition will mark our entry into one of India's strongest office markets, expanding the size of our REIT by over 30 per cent and positioning us as a truly pan-India platform. Our embedded growth prospects remain strong with continued leasing momentum, making us well-positioned to deliver value to our unitholders," he added.
The BIRET manages 10 Grade A assets located in Delhi, Mumbai, Gurugram, Noida, Kolkata.
The Brookfield India REIT portfolio consists of 29.1 million square feet of total leasable area, comprising 24.6 million square feet of operating area, 0.6 million square feet of under construction area and 3.9 million sq ft of future development potential.
