Brookfield REIT records Rs 59.7 cr net income in Q3 FY22

14 Feb 2022 CW Team

The numbers are not comparable as the firm was privately owned during the corresponding period last fiscal.The Canadian alternative investment major Brookfield Asset Management-backed Biret was registered in February 2021 after a Rs 3,800-crore public issue which was oversubscribed 8-times.The board has sanctioned a payout of Rs 5 per unit as the net distributable cash flow (NDCF) distribution amounting to Rs 150 crore for the quarter, of which 34% will be tax-free for unitholders.

It takes the cumulative dividend distribution at Rs 17 per unit since listing last February, the firm said in a statement. It additionally said the net income for the quarter reached Rs 59.72 crore. Revenue from operating lease rentals reached Rs 140 crore, and net operating income reached Rs 150 crore, but it anticipates a pick-up going ahead driven by the new leases acquired in Q3.

It has produced an NDCF of Rs 140 crore or Rs 4.74 per unit for the quarter, totalling Rs 530 crore or Rs 17.59 per unit since listing, the firm told the media. Alok Aggarwal, chief executive of Brookprop Management Services, told the media that they continue to witness strong leasing momentum with 5,36,000 sq ft of gross leasing across assets with additional growth options of 291,000 sq ft in the quarter totalling 825,000 sq ft of gross leasable area. It additionally improved the total leasable area by 32% with the purchase of Candor Techspace N2 in Noida for Rs 4,000 crore in January 2022.

During the quarter, it collected 99% of the contracted rentals while attaining an average 7% escalation on 5,00,000 lakh sq ft of leased area. It has the committed occupancy at 83%, Aggarwal said, adding they attained gross leasing of 536,000 sq ft across assets during the quarter with additional growth options of 291,000 sq ft totalling 825,000 sq ft.

Image Source

Also read: Brookfield leads race to acquire IL&FS group headquarters in Mumbai

On Friday, Brookfield India Real Estate Trust (Biret), the nation's only institutionally managed Reit, registered Rs 59.7 crore in net income and Rs 5 per unit in dividend to unit-holders for the December quarter on the back of strong leasing momentum. The numbers are not comparable as the firm was privately owned during the corresponding period last fiscal.The Canadian alternative investment major Brookfield Asset Management-backed Biret was registered in February 2021 after a Rs 3,800-crore public issue which was oversubscribed 8-times.The board has sanctioned a payout of Rs 5 per unit as the net distributable cash flow (NDCF) distribution amounting to Rs 150 crore for the quarter, of which 34% will be tax-free for unitholders. It takes the cumulative dividend distribution at Rs 17 per unit since listing last February, the firm said in a statement. It additionally said the net income for the quarter reached Rs 59.72 crore. Revenue from operating lease rentals reached Rs 140 crore, and net operating income reached Rs 150 crore, but it anticipates a pick-up going ahead driven by the new leases acquired in Q3. It has produced an NDCF of Rs 140 crore or Rs 4.74 per unit for the quarter, totalling Rs 530 crore or Rs 17.59 per unit since listing, the firm told the media. Alok Aggarwal, chief executive of Brookprop Management Services, told the media that they continue to witness strong leasing momentum with 5,36,000 sq ft of gross leasing across assets with additional growth options of 291,000 sq ft in the quarter totalling 825,000 sq ft of gross leasable area. It additionally improved the total leasable area by 32% with the purchase of Candor Techspace N2 in Noida for Rs 4,000 crore in January 2022. During the quarter, it collected 99% of the contracted rentals while attaining an average 7% escalation on 5,00,000 lakh sq ft of leased area. It has the committed occupancy at 83%, Aggarwal said, adding they attained gross leasing of 536,000 sq ft across assets during the quarter with additional growth options of 291,000 sq ft totalling 825,000 sq ft. Image Source Also read: Brookfield leads race to acquire IL&FS group headquarters in Mumbai

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..