Brookfield India Real Estate Trust has leased over 651,000 sq ft office space during the quarter ended March taking its gross leasing for the financial year 2024-25 to over 3 million sq ft.
The annual leasing performance includes 2.2 million sq ft of new leasing and 800,000 sq ft of renewals. More than 50% of this leasing was in Special Economic Zone (SEZ) properties, indicating steady demand recovery.
During the quarter, the REIT achieved 6.5% average escalation on 1.4 million sq ft of leased area and a mark-to-market of 17% on re-leasing of 300,000 sq ft, the company said in its earnings release.
For the year, it achieved 8.7% average escalation on 6.4 million sq ft of leased area and a mark-to-market of 19% on re-leasing of 1.8 million sq ft.
“Our fiscal 2025 has witnessed an all-round performance, delivering strong leasing, double digit same-store growth, higher distributions, and a key acquisition. Our Rs 4,700 crore of capital issuance reflects investor confidence in our long-term strategic vision,” said Alok Aggarwal, CEO & MD, Brookfield India Real Estate Trust.
According to him, the REIT is well placed for steady growth in the coming year, backed by 2 million sq ft of ongoing SEZ conversions and a strong leasing pipeline.
The REIT’s income from operating lease rentals for the quarter grew 14% from a year to Rs 460.3 crore. Net operating income rose 16% to Rs 488.5 crore. The company has announced a distribution of Rs 319.1 crore or Rs 5.25 per unit for the quarter, up 10.5% from a year ago.
For the financial year, income from operating lease rentals grew by 36% to Rs 1748.9 crore and net operating income rose 37% to Rs 1854 crore.
In December, the REIT raised Rs 3,500 crore through a Qualified Institutional Placement to foreign and domestic institutional investors. According to the REIT, the capital raise is aimed at enhancing financial capacity and providing the necessary headroom to pursue strategic inorganic growth.
Brookfield India REIT manages 10 Grade A assets in Mumbai, Delhi, Gurugram, Noida, and Kolkata. The portfolio consists of 29 million sq ft of total leasable area, comprising 24.5 million sq ft operating area, 600,000 sq ft under construction area and 3.9 million sq ft of future development potential.
The annual leasing performance includes 2.2 million sq ft of new leasing and 800,000 sq ft of renewals. More than 50% of this leasing was in Special Economic Zone (SEZ) properties, indicating steady demand recovery.
During the quarter, the REIT achieved 6.5% average escalation on 1.4 million sq ft of leased area and a mark-to-market of 17% on re-leasing of 300,000 sq ft, the company said in its earnings release.
For the year, it achieved 8.7% average escalation on 6.4 million sq ft of leased area and a mark-to-market of 19% on re-leasing of 1.8 million sq ft.
“Our fiscal 2025 has witnessed an all-round performance, delivering strong leasing, double digit same-store growth, higher distributions, and a key acquisition. Our Rs 4,700 crore of capital issuance reflects investor confidence in our long-term strategic vision,” said Alok Aggarwal, CEO & MD, Brookfield India Real Estate Trust.
According to him, the REIT is well placed for steady growth in the coming year, backed by 2 million sq ft of ongoing SEZ conversions and a strong leasing pipeline.
The REIT’s income from operating lease rentals for the quarter grew 14% from a year to Rs 460.3 crore. Net operating income rose 16% to Rs 488.5 crore. The company has announced a distribution of Rs 319.1 crore or Rs 5.25 per unit for the quarter, up 10.5% from a year ago.
For the financial year, income from operating lease rentals grew by 36% to Rs 1748.9 crore and net operating income rose 37% to Rs 1854 crore.
In December, the REIT raised Rs 3,500 crore through a Qualified Institutional Placement to foreign and domestic institutional investors. According to the REIT, the capital raise is aimed at enhancing financial capacity and providing the necessary headroom to pursue strategic inorganic growth.
Brookfield India REIT manages 10 Grade A assets in Mumbai, Delhi, Gurugram, Noida, and Kolkata. The portfolio consists of 29 million sq ft of total leasable area, comprising 24.5 million sq ft operating area, 600,000 sq ft under construction area and 3.9 million sq ft of future development potential.
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