NEW DELHI: Brookfield India Real Estate Trust (BIRET) has announced a 13% year-on-year (YoY) increase in net operating income (NOI), reaching ₹4,986 million for the quarter ending June 30, 2025.
The REIT reported gross leasing of 651,000 square feet during the quarter, achieving an average re-leasing spread of 22%. Committed occupancy improved to 89%, reflecting a 9% rise over the last 18 months since SEZ reforms, with a total of 4.6 million square feet leased across its portfolio.
Income from operating lease rentals grew by 9% YoY to ₹4,583 million. The REIT also declared a distribution of ₹5.25 per unit, amounting to ₹3,190 million, representing a 17% YoY increase.
Alok Aggarwal, CEO and MD, stated, “We aim to increase occupancy to over 95%, driving a 13% growth in NOI and a 22% growth in distribution for the current quarter. Our planned fundraise will further enhance our capacity to seize significant growth opportunities.”
The board approved a preferential issue of ₹1,000 crore to a diverse group of investors to support its growth objectives, following a earlier capital raise of ₹3,500 crore in December 2024.
BIRET is actively discussing the acquisition of grade-A properties in Bengaluru and Chennai with its sponsor group. With a dual AAA credit rating and 88% repo-linked borrowings, the trust anticipates benefits from a decreasing interest rate environment, having already realized a 35bps reduction, with an additional 55bps expected in Q2 FY26.
