Data from Brookfield India REIT’s latest results is in the India REITs table.
Brookfield India REIT has disclosed an adjusted net operating income of INR2,453 million for its 1Q 2024.
This represents an increase of 4.5% year-on-year compared to the INR2,346 million reported in 1Q 2023.
The increase came amid a growth in the REIT’s operating lease rentals, which jumped by 3.9% year-on-year to INR2,113 million.
In line with these results, the REIT has announced distributions totalling INR1,642 million.
Brookfield India reiterated that after its equity fundraising, it now has the financial commitment in place to acquire two large commercial assets in an equal partnership with GIC, from Brookfield Asset Management’s private real estate funds.
The acquisitions, Downtown Powai, Mumbai and Candor TechSpace (G1) Gurugram, will add significant scale and diversification to its portfolio, it added.
The transaction is on track to close in Q2 FY2024, it affirmed.
Brookfield India REIT was last done on the BSE at INR249.50, which presently implies a distribution yield of 6.17% according to data on the India REITs table.