BackBrookfield India REIT Q1 net operating profit up 4% to ₹170 cr
Company announced the distribution of ₹181.7 crore to unitholdersIt had posted net operating income of ₹163.4 crore in the year-ago period
PremiumBrookfield India Real Estate Trust reported a 3.8% increase in its net operating income to ₹169.6 crore during the quarter ended June 30, 2021. It further announced the distribution of ₹181.7 crore to unitholders.
In its regulatory filing, the company said, the collections of operating lease rentals remained robust at around 99%. Income from operating lease rentals grew by 7.3 per cent to ₹161.6 crore in the April-June quarter from ₹150.7 crore in the corresponding period of the previous year.
Total income stood at ₹222.67 crore, while profit at ₹73.83 crore during the first quarter of this fiscal year, it added.
Noting that strong 'return to office' preparations are witnessed across occupiers as vaccinations has picked up, Alok Aggarwal, Chief Executive Officer, Brookprop Management Services Private Limited, said, “We look forward to supporting our tenants’ plans with the highest health and safety standards. Our campuses, which house many of India’s leading technology and services companies, have remined resilient with 89% Same Store Occupancy and collections at, 99%."
Brookfield India Real Estate Trust has four large campus format office parks located in Mumbai, Gurgaon, Noida, and Kolkata. Its portfolio consists of 14 million sq ft comprising 10.3 million sq ft of completed area, 0.1 million sq ft of under-construction area, and 3.7 million sq ft of future development potential.
"We are pleased that we have been able to help facilitate vaccinations for over 32,000 people including of our employees, tenants, front-line workers and their families across our properties and will continue to organize these drives in collaboration with local authorities." Aggarwal added.
Global investment firm Brookfield launched India''s third Real Estate Investment Trust (REIT) after successfully raising ₹3,800 crore through an initial public offer.
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