2, March, 2024
HomeBusinessBrookfield India Real Estate Trust Posts Strong Growth in Net Operating Income and Distribution for Q4

Brookfield India Real Estate Trust Posts Strong Growth in Net Operating Income and Distribution for Q4

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Brookfield India Real Estate Trust has announced robust financial results for the December quarter, demonstrating an impressive 89% surge in net operating income to ₹453.4 crore. The company also declared a distribution totaling ₹208.56 crore, showcasing its commitment to delivering value to stakeholders.

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According to the recent regulatory filing, the distribution breakdown includes ₹97 crore allocated at ₹2.21 per unit for interest payment on shareholder loans, Non-Convertible Debentures (NCDs), and Compulsory Convertible Debentures (CCDs).

Additionally, ₹108.89 crore has been earmarked at ₹2.48 per unit for the repayment of Special Purpose Vehicles (SPV) debt and NCD, with the remaining balance of ₹2.63 crore distributed at ₹0.06 per unit as interest on fixed deposits.

Despite a slight decline in net profit to ₹16.57 crore compared to the same quarter last year, the company witnessed a significant increase in total income, which soared to ₹561.13 crore.

Notably, the operational achievements during this period include the leasing of 1 million sq ft of office spaces, encompassing both new leasing and renewals.

Furthermore, Brookfield India Real Estate Trust has made strides in its strategic initiatives, including the application for the conversion of 1 million sq ft of SEZ spaces to non-processing areas across its portfolio.

The company’s portfolio comprises seven large integrated office parks strategically located in Mumbai, Gurugram, Noida, and Kolkata, totaling 25.4 million sq ft of leasable area.

As a part of Brookfield, a renowned global asset management firm with approximately USD 900 billion of assets under management, Brookfield India REIT is well-positioned to leverage its expertise in real estate, infrastructure, renewable power, private equity, and credit strategies.

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With a strong track record and a global presence spanning over 30 countries, Brookfield continues to uphold its commitment to delivering sustainable growth and value creation for investors and stakeholders alike.

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