Brookfield Real Estate Trust net operating income flat at Rs 655 cr

By: |
May 21, 2021 4:00 AM

Income from operating lease rentals grew to Rs 610 crore, a 2.5% increase year-on-year, driven by contractual escalations.

The net asset value at Rs 317 per unit was 2% higher than Rs 311 per unit, as on September 30, 2020. The REIT estimate to distribute a total of Rs 12.75 per unit over the next two quarterly distributions.The net asset value at Rs 317 per unit was 2% higher than Rs 311 per unit, as on September 30, 2020. The REIT estimate to distribute a total of Rs 12.75 per unit over the next two quarterly distributions.

Brookfield India Real Estate Trust’s net operating income, adjusted for income from identified assets, stayed constant at Rs 650 crore for the financial year ended March 31, 2021 versus last year.

Income from operating lease rentals grew to Rs 610 crore, a 2.5% increase year-on-year, driven by contractual escalations.

The net asset value at Rs 317 per unit was 2% higher than Rs 311 per unit, as on September 30, 2020. The REIT estimate to distribute a total of Rs 12.75 per unit over the next two quarterly distributions.

Alok Aggarwal, chief executive officer, Brookprop Management Services, said, “While the challenges have heightened over the past couple months, we have ensured business continuity for our occupiers. Existing occupiers continue to see value in institutionally managed properties like ours as witnessed in us achieving 78% tenant retention in FY2021. Further, with over 99% collections, 91% year-end same store committed occupancy and almost 7 lakh square feet of leasing and renewals, we had a resilient year”.

Ankur Gupta, managing partner and head of real estate-India, Brookfield Asset Management, said, “Despite, the impact of the Covid-19 pandemic, India continues to further its leadership position housing global services and technology companies. As vaccinations roll out, we expect occupiers to return to the office as they have in other parts of the world”.

The REIT recorded gross asset value of Rs 11,500 crore, of which 93% is in operating properties. It collected more than 99% of contracted rentals, while achieving average 9% escalation on 3.7 million sqft of leased area. Year-end same store committed occupancy stood at 91% and overall committed occupancy at 87%. The company leased and renewed 6.73 lakh sqft during FY2021, achieving 17% re-leasing spreads.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Grofers co-founder Saurabh Kumar exits company
2No intention to delay fixing minimum wages: Labour Min
3Digitisation in Financial Services and Insurance: Key things to remember while preparing digital strategy