Brookfield India REIT's NOI Surges by 93%, Declares Rs 216 Crore Distribution

Brookfield India Real Estate Trust reported a 93% rise in its net operating income to Rs 439.9 crore for the June 2024 quarter, with a distribution of Rs 216 crore. The trust achieved a significant profit increase, substantial leasing activity, and completed a major acquisition in Delhi-NCR.

Brookfield India Real Estate Trust has seen a 93% increase in its net operating income, reaching Rs 439.9 crore, and has announced a distribution of Rs 216 crore for the June 2024 quarter.

Compared to Rs 227.5 crore in the same period last year, this marks a significant growth. In a regulatory filing on Wednesday, the trust clarified a per unit distribution of Rs 4.50 for the quarter ending June 30, 2024.

The trust's net profit for Q1 stood at Rs 37.35 crore, a substantial turnaround from a net loss of Rs 27 crore in the previous year. Total income rose to Rs 590.91 crore from Rs 320.73 crore year-over-year. Additionally, Brookfield India REIT achieved gross leasing of 2,42,000 square feet at a rate of Rs 135 per square foot.

(With inputs from agencies.)