Tag: REIT

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Bombay HC allows SEBI more time for Embassy REIT affidavits

MUMBAI: The Bombay High Court has allowed the Securities and Exchange Board of India (SEBI) additional time to submit detailed affidavits concerning two writ petitions related to allegations against the sponsors and promoters of Embassy Office Parks REIT. During the hearing, SEBI informed the Court that it has already reviewed the representation underlying the first petition, reached a conclusion, and will provide a detailed affidavit with its reasoning. The regulator indicated that its findings are unlikely to favor the petitioner’s requests. Representing SEBI, Senior Advocate Shiraz Rustomjee stated that the regulator has made a decision on the representation that forms…

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Knowledge Realty Trust’s Q1 FY27 NOI Up 15% to ₹1,111.7 Crore

NEW DELHI: Knowledge Realty Trust reported a 15% year-on-year revenue increase to ₹1,243.10 crore for the quarter ending June 30, 2026. Its net operating income also rose by 15%, reaching ₹1,111.70 crore. The total net consolidated income amounted to ₹1,268.14 crore for Q1 FY27, with a net consolidated profit after tax of ₹250.79 crore. The board of directors at Knowledge Realty Office Management Services, responsible for managing Knowledge Realty Trust, has approved a distribution of ₹751.63 crore, translating to ₹1.695 per unit for the quarter. This distribution includes ₹408.85 crore (₹0.922 per unit) as dividends, ₹123.28 crore (₹0.278 per unit)…

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RBI Sets Final Rules for Easing Bank Loans to REITs, InvITs

MUMBAI: On Wednesday, the Reserve Bank issued final amendment directions that allow commercial banks to lend to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), while maintaining essential safeguards regarding exposure limits, asset quality, and repayment structures. The final directions incorporate feedback from stakeholders following the draft norms. Key changes include allowing overseas branches of Indian banks to engage in REIT financing through syndication, with specific caps on contributions (20%) and risk weight (150%). The requirement for an insolvency mechanism has been modified to include a broader stipulation for an “effective recovery mechanism” in overseas jurisdictions. The central…

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India’s Real Estate Needs ₹50 Lakh Crore by 2036: Report

NEW DELHI: According to a report from Anarock Capital, India’s real estate sector will need nearly ₹50 lakh crore in capital over the next decade to sustain its growth. The report points to a shift in the sector’s financing landscape, evolving from a fragmented, NBFC-led model to a more organized, institutional framework supported by banks, alternative investment funds, real estate investment trusts, private credit, and government initiatives. However, it highlights that capital is primarily concentrated among established developers and in major metropolitan areas, which results in disparities in affordable housing, smaller developers, and tier II and III cities. Despite a…

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Knowledge Realty Trust’s NOI Soars 18% in FY26

NEW DELHI: Knowledge Realty Trust reported an 18% increase in its net operating income (NOI) to ₹4,048.4 crore, resulting in an NOI margin of 88%. The board of directors of Knowledge Realty Office Management Services, the managing entity of Knowledge Realty Trust, has approved a distribution of ₹7,165.99 million/₹1.616 per unit for the quarter ending March 31, 2026. This distribution includes ₹4,350.15 million/₹0.981 per unit as dividends, ₹917.92 million/₹0.207 per unit as interest (minus applicable taxes), ₹1,889.05 million/₹0.426 per unit for debt repayment, and ₹8.87 million/₹0.002 per unit. The net asset value (NAV) of the trust was declared at ₹123.61…

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Knowledge Realty Trust Secures ₹500 Crore via Commercial Papers

NEW DELHI: Knowledge Realty Trust has successfully raised ₹500 crore through the issuance of commercial papers, as reported in a BSE filing. The borrowing committee of Knowledge Realty Office Management Services, which manages Knowledge Realty Trust, has approved the placement of 10,000 listed, rated, redeemable, and rupee-denominated commercial papers. The papers have a face value of ₹5 lakh each and were issued for a total principal amount of ₹500 crore. The issued commercial papers are set for a duration of 91 days starting from May 12, 2026, and have been offered in dematerialized form on a private placement basis, issued…

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Brookfield India REIT’s NOI Soars 23.8% in FY26

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) reported a 53% year-on-year increase in net operating income, reaching ₹742.9 crore in Q4 FY26. For the financial year 2025-26, the income grew by 23.8% year-on-year to ₹2,291.3 crore. The board of directors of Brookprop Management Services, the manager of Brookfield India REIT, announced a distribution of ₹4,564.35 million (₹5.50 per unit) for the quarter ending March 31, 2026. This includes ₹1,327.81 million (₹1.60 per unit) as interest on shareholder loans, CCDs, and NCDs; ₹2,456.45 million (₹2.96 per unit) for the repayment of SPV debt and NCDs; ₹730.30 million (₹0.88…

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Bagmane Prime Office REIT IPO 71% Subscribed on Day 1

NEW DELHI: The IPO of Bagmane Prime Office REIT, backed by Blackstone, saw a 71% subscription on its first day of bidding on Tuesday. According to NSE data, bids were received for 10,55,39,250 units against 14,79,21,000 units on offer. The subscription rate for the category of other investors was 74%, while institutional investors subscribed at 69%. Furthermore, Bagmane Prime Office REIT has raised approximately ₹1,150 crore from anchor investors. The ₹3,405-crore public issue will close on May 7. The price band for the Bengaluru-based real estate investment trust (REIT) is set between ₹95-100 per unit. The IPO includes a fresh…

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Bagmane Prime Office REIT secures ₹1,150 crore from anchors

NEW DELHI: Bagmane Prime Office REIT, backed by Blackstone, has raised approximately ₹1,150 crore from anchor investors as its Initial Public Offering (IPO) opens for subscription today, with a total issue size of ₹3,405 crore concluding on May 7. The anchor book attracted a diverse array of institutional investors, including NPS Trust (through SBI Pension Fund schemes for central and state governments), WhiteOak Capital funds, SBI Life Insurance, Quant Mutual Fund, UTI MF, Kotak MF, Nippon India MF, Edelweiss MF, and JM Financial MF, based on a circular posted on BSE’s website. Additionally, global and domestic investors such as Societe…

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Mindspace REIT’s Net Operating Income Rises 29.2% in FY26

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has posted a net operating income (NOI) increase of 29.2% for the financial year 2025-26. The executive committee of K Raheja Corp Investment Managers, which manages Mindspace REIT, has approved fundraising through the issuance of non-convertible debt securities and/or commercial papers. The total amount will not exceed ₹15,700 crore (net of repayments), including any outstanding debts, and will be issued in one or more tranches. It is further stipulated that the aggregate consolidated borrowings and deferred payments of Mindspace REIT and its HoldCo/Asset SPVs, after accounting for cash and cash equivalents, must…