Brookfield India REIT Soars with 40% Income Boost and Strategic Growth Plans
Brookfield India Real Estate Trust reported a 40% rise in net operating income for the September quarter. The trust plans to raise Rs 3,500 crore through unit issuance to institutional investors for debt reduction and growth funding. With strong leasing, it owns Grade A assets across key Indian cities.
- Country:
- India
Brookfield India Real Estate Trust announced a remarkable 40% increase in its net operating income, reaching Rs 485.8 crore for the September quarter. This financial boost accompanies their strategic move to raise up to Rs 3,500 crore by issuing units to institutional investors. The aim is to manage debt and fund future expansion.
According to a regulatory filing, the adjusted net operating income for the trust rose significantly in the July-September period compared to the previous year. A distribution of Rs 220.8 crore was also declared for shareholders, primarily as a dividend. The decision, made by the board of directors of Brookprop Management Services Pvt Ltd, endorses the unit issuance strategy.
Operational highlights include achieving one million square feet of gross leasing for office space, highlighting strong demand. Brookfield India REIT's portfolio features 28.9 million square feet of total leasable space, including major assets in Delhi, Mumbai, Gurugram, Noida, and Kolkata. This strategic asset management promises robust future growth potential.
(With inputs from agencies.)
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