New Delhi, Brookfield India Real Estate Trust (BIRET) on Thursday reported 8 per cent rise in its adjusted net operating income to Rs 460.8 crore during the March quarter and announced a distribution of Rs 208.6 crore to unitholders.
Its net operating income (NOI) in the year-ago period stood at Rs 244.4 crore.
For the full 2023-24 financial year, the company's NOI increased to Rs 1,506.2 crore from Rs 960.8 crore last year, according to a regulatory filing.
The company said it achieved the highest quarterly new leasing since its IPO of 0.9 million square feet during the fourth quarter of the last fiscal year.
It has received in-principle approval to convert 1 million sq ft of SEZ space into non-processing zone and is in the process of applying for conversion of an additional 0.2 million sq ft.
“Recent leasing was driven by demand from GCCs (Global Capability Centres), MNCs (Multinational Corporations) and domestic tenants in sectors such as consulting, BFSI, technology and oil and gas, reflecting the growing demand for high-quality office space. " the company said.
Throughout 2023-24, BIRET achieves gross leasing of 2.8 million sq ft, which includes new leasing of 1.9 million sq ft and renewal of 0.9 million sq ft.
Brookfield India REIT is a 100 per cent institutionally managed office REIT comprising six large integrated office parks located in Mumbai, Gurugram, Noida and Kolkata.
The total leasable area in the Brookfield India REIT portfolio is 25.5 million sq ft, which includes 20.9 million sq ft of operational area, 0. million sq ft of under-construction area and 4 million sq ft of future development potential.
Its net operating income (NOI) in the year-ago period stood at Rs 244.4 crore.
For the full 2023-24 financial year, the company's NOI increased to Rs 1,506.2 crore from Rs 960.8 crore last year, according to a regulatory filing.
The company said it achieved the highest quarterly new leasing since its IPO of 0.9 million square feet during the fourth quarter of the last fiscal year.
It has received in-principle approval to convert 1 million sq ft of SEZ space into non-processing zone and is in the process of applying for conversion of an additional 0.2 million sq ft.
“Recent leasing was driven by demand from GCCs (Global Capability Centres), MNCs (Multinational Corporations) and domestic tenants in sectors such as consulting, BFSI, technology and oil and gas, reflecting the growing demand for high-quality office space. " the company said.
Throughout 2023-24, BIRET achieves gross leasing of 2.8 million sq ft, which includes new leasing of 1.9 million sq ft and renewal of 0.9 million sq ft.
Brookfield India REIT is a 100 per cent institutionally managed office REIT comprising six large integrated office parks located in Mumbai, Gurugram, Noida and Kolkata.
The total leasable area in the Brookfield India REIT portfolio is 25.5 million sq ft, which includes 20.9 million sq ft of operational area, 0. million sq ft of under-construction area and 4 million sq ft of future development potential.