Q4 results: Brookfield India Real Estate Trust reports 16% increase in net operating income

Brookfield India REIT reported improvement in net operating income, as well as distributions for Q4 and FY25

Private equity giant Brookfield-sponsored Brookfield India Real Estate Trust reported an increase of 16 percent in its net operating income for the quarter ending March 31 to Rs 488.5 crore, while the real estate investment trust's (REIT) distributions for the reporting quarter also grew by 10.5 percent year-on-year to around Rs 319 crore, representing a per-unit distribution of Rs 5.25.

For Q4, the REIT reported gross leasing of 651,000 square feet, with an average rental escalation of 6.5 percent on 1.4 million square feet of leased area. Its gross asset value increased to around Rs 38,000 crore, an increase of 30 percent year-on-year.

In the full financial year of 2024-25, net operating income grew by 37 percent to Rs 1,854 crore, while the total distributions for the year were around Rs 1,054 crore, or Rs 19.25 per unit, 8.5 percent higher than that of the previous year.

Gross leasing for FY25 was at around 3 million square feet, which included 2.2 million square feet of new leasing, and the rest was in the form of renewals. The REIT, which earlier had significant vacancy in Special Economic Zone (SEZ)-designated offices, said that 50 percent of its leasing during the year was in SEZ buildings, indicating "steady demand recovery".

"With 2 million square feet of ongoing conversions in our SEZ properties and a robust leasing pipeline, we are well-positioned for sustained growth over the next year," said Alok Aggarwal, chief executive officer and managing director at Brookfield India Real Estate Trust.

At 1313 IST on May 6, Brookfield India Real Estate Trust's units traded 0.2 percent lower at Rs 289.57 on the National Stock Exchange.