You are here: Home » Companies » News
Business Standard

Brookfield India REIT operating revenue down 3% in September quarter

Brookfield has declared a Rs 180-crore dividend payout for the September quarter, taking its total profit distribution to Rs 390 crore since listing in February

Topics
Brookfield REIT | Brookfield india | Brookfield

Deepsekhar Choudhury  |  Bengaluru 

Unlike Q4FY21, the June quarter will be challenging for businesses as Covid cases surge
Brookfield has declared a Rs 180-crore dividend payout for the September quarter

India REIT, which listed in February, saw its operating revenue dip 3 per cent sequentially from Rs 219 crore in the first quarter of FY22 to Rs 212 crore in the quarter ended September.

has declared a Rs 180-crore dividend payout for the September quarter, taking its total profit distribution to Rs 390 crore since listing in February.

The Rs 180-crore planned dividend payout is Rs 6 per unit this quarter, with 35 per cent of the distribution tax free for unitholders. This takes the total distribution to Rs 12 per unit since listing.

While income from lease rentals remained stable at Rs 156 crore, growing marginally year-on-year due to lower occupancy, the REIT’s net operating income slid 8 per cent to Rs 163 crore. It claimed to have a strong balance sheet with loan-to-value ratio of 18.7 per cent.

“We delivered a stable performance this quarter, led by robust 99 per cent collections and 85 per cent same-store occupancy. Our portfolio has a well staggered lease expiry profile with the opportunity to capture an attractive mark-to-market spread created through market growth over the past several years,” said Alok Aggarwal, chief executive officer (CEO), Brookprop Management Services Private Limited.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 09 2021. 22:20 IST
RECOMMENDED FOR YOU
.