Curation Team
NEW DELHI: Brookfield India Real Estate Trust (BIRET) has reported reported a 13% year-on-year (YoY) rise in net operating income (NOI) to ₹4,986 million for the quarter ended June 30, 2025.
The REIT achieved gross leasing of 651,000 sf during the quarter, registering an average re-leasing spread of 22%. Committed occupancy surged to 89%, marking a nine per cent improvement over the past 18 months since SEZ reforms, and a cumulative 4.6 million sf of gross leasing across its portfolio.
Income from operating lease rentals rose 9% year-on-year to ₹4,583 million, while the REIT announced a distribution of ₹5.25 per unit totaling ₹3,190 million, marking a 17% year-on-year increase.
Alok Aggarwal, CEO and MD of the company said, “We expect to grow occupancy to more than 95%, driving 13% growth in NOI and 22% growth in distribution over the current quarter. Our proposed fundraise will further strengthen our ability to pursue large growth opportunities.”
The board approved a preferential issue of ₹1,000 crore to a diversified set of investors, aimed at bolstering growth ambitions. This follows the ₹3,500 crore capital raise in December 2024.
BIRET is also in discussions with its sponsor group to acquire grade-A properties in Bengaluru and Chennai. Supported by a dual AAA credit rating and 88% repo-linked borrowings, the trust expects further benefits from a lower interest rate environment, with 35bps of rate reduction already achieved and an additional 55bps transmission anticipated in Q2 FY26.
