Brookfield India Real Estate Trust to distribute Rs 209 cr to unitholders

In a regulatory filing, the company said it will distribute Rs 208.56 crore at Rs 4.75 per unit to unit holders for the December quarter

Brookfield India

Brookfield India Real Estate Trust portfolio comprises seven large integrated office parks in Mumbai, Gurugram, Noida, and Kolkata

Press Trust of India New Delhi

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Brookfield India Real Estate Trust on Monday reported an 89 per cent growth in net operating income to Rs 453.4 crore and declared distribution of Rs 208.56 crore for the December quarter.
The distribution comprises Rs 97 crore at Rs 2.21 per unit in the form of interest payment on shareholder loan, Non-Convertible Debentures (NCDs) and Compulsory Convertible Debentures (CCDs), Rs 108.89 crore at Rs 2.48 per unit in the form of repayment of Special Purpose Vehicles (SPV) debt and NCD and the balance Rs 2.63 crore at Rs 0.06 per unit in the form of interest on fixed deposit.
In a regulatory filing, the company said it will distribute Rs 208.56 crore at Rs 4.75 per unit to unit holders for the December quarter.
The company's net profit declined to Rs 16.57 crore during the quarter from Rs 24.68 crore in the year-ago period.
Total income, however, rose to Rs 561.13 crore during the October-December period from Rs 309.34 crore in the corresponding period of the previous year.
On operational front, the company achieved gross leasing of 1 million sq ft of office spaces, including 0.5 million sq ft of new leasing and 0.5 million sq ft of renewals.
The company said it applied for conversion of 1 million sq ft of SEZ (Special Economic Zone) spaces to non-processing area across its portfolio.
Brookfield India Real Estate Trust portfolio comprises seven large integrated office parks in Mumbai, Gurugram, Noida, and Kolkata.
The Brookfield India REIT portfolio consists of 25.4 million sq ft of total leasable area, comprising 20.7 million sq ft of operating area, 0.7 million sq ft of under-construction area and 3.9 million sq ft of future development potential.
Brookfield India REIT is sponsored by an affiliate of Brookfield whose asset management business is one of the world's leading alternative asset managers with about USD 900 billion of assets under management across real estate, infrastructure, renewable power, private equity, and credit strategies and a global presence across more than 30 countries.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 12 2024 | 7:12 PM IST

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