Brookfield Real Estate Trust Posts Flat Net Operating Income of Rs 655 cr

Brookfield Real Estate Trust Posts Flat Net Operating Income of Rs 655 cr

Brookfield India Real Estate Trust on Thursday reported an almost flat net operating income of Rs 654.8 crore for the last fiscal year.

Its net operating income stood at Rs 655.7 crore in the previous fiscal, according to a regulatory filing.

The collection of operating lease rentals remained robust at 99 per cent plus, the company said, adding that it achieved around 9 per cent average escalation on a 3.7 million sq ft leased area.

The company leased 6,73,000 sq ft area in FY21, of which 1,22,000 sq ft is the new lease and 5,51,000 sq ft is renewal.

Brookfield India REIT has given a guidance of distribution of Rs 12.75 per unit over the next two quarters.

This is the company’s first quarterly result after it got listed in February this year.

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.

Blackstone-Embassy group and K Raheja group have already launched and listed their REITs on stock exchanges.

Brookfield India Real Estate Trust portfolio comprises four office parks in Mumbai, Gurgaon, Noida, and Kolkata.

The portfolio size is 14 million sq ft, of which 10.3 million sq ft is completed area and 0.1 million sq ft of under-construction area and 3.7 million sq ft of future development potential.

Source : Business Standard

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