Brookfield India REIT to Raise Rs 3,500 Crore, Eyes Growth and Debt Reduction
Brookfield India Real Estate Trust plans to raise Rs 3,500 crore from institutional investors to reduce debt and support growth. It reported a 40% rise in net operating income for Q2 of the fiscal year. Funds will be used for debt repayment, capital expenditure, and growth opportunities.
- Country:
- India
Brookfield India Real Estate Trust has announced a strategic plan to raise up to Rs 3,500 crore through the issuance of units to institutional investors. This initiative aims to reduce financial liabilities and support future expansion.
In its latest financial results, Brookfield India REIT reported a significant increase of 40% in its net operating income, amounting to Rs 485.8 crore for the second quarter of this fiscal year. The company also declared a distribution of Rs 220.8 crore for the quarter to its unitholders.
The company's board approved the issuance of these units through a regulatory filing, stating the funds will be used for debt repayment, operational expenses, and potential growth investments. Brookfield India REIT, which holds a significant real estate portfolio across major Indian cities, continues to capitalize on high demand, achieving notable leasing milestones.
(With inputs from agencies.)