Brookfield India REIT Q1 net operating income up 93% to Rs 440 cr

New Delhi: Brookfield India Real Estate Trust has reported a 93 per cent jump in its net operating income to Rs 439.9 crore and declared a distribution of Rs 216 crore for the June 2024 quarter.

Its net operating income (NOI) stood at Rs 227.5 crore in the year-ago period.

According to a regulatory filing on Wednesday, Brookfield India Real Estate Trust declared a distribution of Rs 216 crore or Rs 4.50 per unit for the quarter ended June 30, 2024.

The company's net profit stood at Rs 37.35 crore in the first quarter of this fiscal against a loss of Rs 27 crore in the year-ago period. Total income rose to Rs 590.91 crore from Rs 320.73 crore during the period under review.

Brookfield India Real Estate Trust achieved gross leasing of 2,42,000 square feet at Rs 135 per square feet.

During the June quarter, the company informed that it has completed the acquisition of a 50 per cent stake in a 3.3 million square feet commercial portfolio in Delhi-NCR from Bharti Enterprises for Rs 1228 crore.

Brookfield India REIT manages 10 Grade A assets located in Delhi, Mumbai, Gurugram, Noida and Kolkata.

Its portfolio consists of 28.8 million square feet of total leasable area, comprising 24.2 million square feet of operating area, 0.6 million square feet of under-construction area and 4 million square feet of future development potential.