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Business News/ Companies / Company Results/  Brookfield India Real Estate Trust to distribute 209 crore to unitholders for Q3
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Brookfield India Real Estate Trust to distribute ₹209 crore to unitholders for Q3

Brookfield India Real Estate Trust reports 89% growth in net operating income to ₹453.4 crore and declares distribution of ₹208.56 crore for December quarter.

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Brookfield India Real Estate Trust on Monday reported an 89 per cent growth in net operating income to 453.4 crore and declared distribution of 208.56 crore for the December quarter.

The distribution comprises 97 crore at 2.21 per unit in the form of interest payment on shareholder loan, Non-Convertible Debentures (NCDs) and Compulsory Convertible Debentures (CCDs), 108.89 crore at 2.48 per unit in the form of repayment of Special Purpose Vehicles (SPV) debt and NCD and the balance 2.63 crore at 0.06 per unit in the form of interest on fixed deposit.

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

The company's net profit declined to 16.57 crore during the quarter from 24.68 crore in the year-ago period.

Total income, however, rose to 561.13 crore during the October-December period from 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.

 

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Published: 13 Feb 2024, 10:52 AM IST
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