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Brookfield India Real Estate Trust (BIRET) has reported a 13 percent year-on-year increase in its net operating income (NOI) for the quarter ending in June. This growth, driven by strong leasing and a 22 percent re-leasing spread, has pushed the company's committed occupancy to 89 percent. The REIT has also approved a preferential issue of INR 1,000 crore to fund further growth and is in talks to acquire Grade-A properties from its sponsor group in Bengaluru and Chennai. This financial performance and expansion strategy highlight the REIT's commitment to growing its portfolio and enhancing long-term unitholder value.
Brookfield India Real Estate Trust (BIRET) has announced a 13 percent year-on-year increase in its net operating income (NOI) for the quarter that ended on June 30, 2025. This growth was attributed to significant leasing activity and higher occupancy rates. Advertisement
The company achieved gross leasing of 651,000 square feet and a re-leasing spread of 22 percent, meaning the new leases were signed at a significantly higher rate than the previous ones. The committed occupancy rate for its properties rose to 89 percent, a 9 percent improvement over the past 18 months. The REIT's income from operating lease rentals grew by 9 percent year-on-year to INR 4,583 million.
Following this strong performance, the company announced a distribution of INR 5.25 per unit, totaling INR 3,190 million, a 17 percent increase year-on-year.
Looking ahead, Alok Aggarwal, the CEO and MD of Brookfield India REIT, stated that they expect occupancy to go over 95 percent, which would drive a 13 percent growth in NOI and a 22 percent growth in distribution compared to the current quarter.
The board has also approved a preferential issue of INR 1,000 crore to fund further growth. This comes after the trust successfully raised INR 3,500 crore in December 2024. The trust is also in talks to acquire Grade-A properties in Bengaluru and Chennai from its sponsor group. The company anticipates more benefits from a lower interest rate environment, with 35 basis points of rate reduction already achieved and an additional 55 basis points expected in the next quarter. This strategy shows the REIT's focus on expanding its portfolio and providing returns to its unitholders.
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