1 year ago
Brookfield India REIT Reports 13% Rise in Q1 Net Operating Income
Imagine a company that owns office buildings is doing well!
They made more money this past quarter, about 13% more than before.
They also plan to get more money by selling some special units to investors.
They're sharing some of the money they made with the people who own units in the company.
They are also renting out space in their buildings to lots of companies, and most of the buildings are full.
They are even looking to buy more buildings in other cities to grow their business.
Brookfield India REIT's net operating income rose 13% to ₹498.6 crore in Q1.
The company plans to raise up to ₹1,000 crore through preferential units.
Distribution of ₹319 crore to unitholders (₹5.25 per unit) was announced.
The company leased 6.51 lakh square feet in the June quarter, with occupancy at 89%.
Brookfield India REIT is in talks to acquire Grade A properties in Bengaluru and Chennai.
- Who
- Brookfield India REIT.
- What
- Brookfield India REIT's net operating income increased and plans to raise funds.
- Where
- Across various locations in India.
- When
- During the first quarter of the fiscal year.
- Why
- To strengthen its financial position and pursue growth opportunities.
Key facts
- Net Operating Income (Q1)
- ₹498.6 crore
- NOI Increase
- 13%
- Planned Fund Raise
- ₹1,000 crore
- Units for Issuance
- 3.23 crore
- Price per Unit
- ₹310
- Leasing (June Quarter)
- 6.51 lakh sq ft
- Occupancy Level
- 89%
