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Brookfield India REIT’s operating income up 4% to Rs 170 crore in Q1 FY22, Real Estate News, ET RealEstate

Brookfield India REIT's operating income up 4% to Rs 170 crore in Q1 FY22, Real Estate News, ET RealEstate
NEW DELHI: Brookfield India Real Estate Trust on Tuesday reported a 3.8 per cent increase in net operating income to Rs 169.6 crore for the quarter ended June and announced the distribution of Rs 181.7 crore to unitholders. Its net operating income stood at Rs 163.4 crore in the year-ago period, the company said in a regulatory filing.

The collections of operating lease rentals remained robust at around 99 per cent.

Income from operating lease rentals grew by 7.3 per cent to Rs 161.6 crore in the April-June quarter from Rs 150.7 crore in the corresponding period of the previous year.

Total income stood at Rs 222.67 crore, while profit at Rs 73.83 crore during the first quarter of this fiscal year.

Brookfield India Real Estate Trust has four large campus format office parks located in Mumbai, Gurgaon, Noida, and Kolkata. Its portfolio consists of 14 million sq ft comprising 10.3 million sq ft of completed area, 0.1 million sq ft of under-construction area, and 3.7 million sq ft of future development potential.

It has rights to acquire a further 8.3 million sq ft and rights of the first offer on an additional 6.7 million sq ft, both currently owned by members of the Brookfield Group.

Global investment firm Brookfield launched India’s third Real Estate Investment Trust (REIT) after successfully raising Rs 3,800 crore through an initial public offer.


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