IRA launches three data benchmarking institutions for Reit investors

The institutions would serve as a central repository of the Indian Reit sector's data

The Indian Real Estate Investment Trusts (Reits) Association (IRA) has launched three data benchmarking institutions (DBIs) for investors.

The DBIs will serve as a central repository of the Indian Reit sector’s standardised and comparable data.

As part of the initiative, three financial services companies — CAMS, CareEdge, and KFintech — launched their respective platforms, which are set to assist investors in making their Reit investment decisions under the guidance of the Securities and Exchange Board of India (Sebi).

The DBIs are named compareitnow.in by CAMS, ReitsInfraEdge by CareEdge, and KFinsights by KFintech.

Ashwani Bhatia, whole-time director at Sebi, stated that this is the first-of-its-kind initiative for a class of capital market instruments, namely Reits, and a significant step forward in empowering investors with critical information needed to make informed decisions when investing in Reits.

 

In a statement, the IRA said, "The DBIs are yet another reform aimed at improving transparency in the capital market and strengthening investor protection. This initiative will significantly enhance awareness and confidence in the asset class by providing comprehensive data on all Reits in one place.”

Additionally, there are four publicly listed Reits in India, viz., Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

The Indian Reits market oversees gross assets under management (AUM) of over Rs 1,40,000 crore. The portfolio managed by these Reits spans approximately 125 million square feet of Grade A office and retail space across the country.