Brookfield India REIT Q2 FY25 Results: Adjusted NOI grows 40% YoY

Brookfield India Real Estate Investment Trust (REIT) reported annual growth of 40 per cent in its adjusted net operating income (NOI) for the second quarter of the financial year 2025 (Q2 FY25), with NOI reaching Rs 485.8 crore.

 

The REIT also declared a distribution of Rs 4.60 per unit to its unitholders. According to Indian regulations, REITs are required to distribute at least 90 per cent of their taxable income to unitholders.

 

Additionally, the REIT's operating lease rentals increased by 55 per cent year-on-year to Rs 425.7 crore.

 

The REIT achieved a million square feet (msf) of gross leasing, driven by a "strong revival in special economic zone (SEZ) demand." It also leased 0.7 msf of new space during the quarter, with 66 per cent of the space take-up occurring in SEZ assets.

 

According to the REIT's statement, its committed occupancy rose to 85 per cent, an improvement of about 500 basis points over the past 12 months.

 

Alok Aggarwal, chief executive officer and managing director of Brookfield India REIT, said, "We are pleased to report strong leasing momentum and income growth with 1 msf of gross leasing and an 18 per cent year-on-year increase in same-store NOI. Our commitment to ESG was recognised with our third consecutive 5-star GRESB rating. In addition, four of our office parks, totalling 15.4 msf, are able to deliver 40 per cent renewable power for their occupiers through the first-of-its-kind agreement in India under the Inter State Transmission System (ISTS) bilateral arrangement."