Brookfield India REIT raises distribution to 5.70 rupees per unit, up 9% in second quarter
Key Facts
Brookfield India REIT announced a cash distribution of 5.70 rupees per unit for the second quarter of fiscal 2027, up 9% from the year-earlier period, according to Moneycontrol. The announcement came as the trust’s operating income expanded in the quarter ended in September, with net operating income rising 51% to 767.2 crore rupees, compared with 509.4 crore rupees in the second quarter of fiscal 2026. Operating rental income also increased 52% year on year to 722.1 crore rupees. Committed occupancy stood at 93% as of September 30, 2026, up 3 percentage points from a year earlier. The figures link distribution growth with the performance of the office portfolio and leasing during the period, while the report did not specify when the distribution would be paid.
The trust recorded gross leasing of 1.6 million square feet during the quarter, with average rental escalation on renewals at 16%, according to Moneycontrol. Global capability centres accounted for 51% of total area leased during the period, reflecting the presence of this tenant category in the trust’s leasing activity. Alongside new leases and renewals, tenants committed to an additional 0.6 million square feet ahead of their scheduled lease expiries. This early commitment means that some space due for lease renewal had secured advance commitments, though the report did not state the associated rental value. The trust also secured commitments covering nearly 40% of scheduled lease expiries for fiscal 2028. This forward coverage came alongside committed occupancy of 93% at the end of September.
In the first six months of fiscal 2027, operating rental income rose 54% to 1,436 crore rupees, while net operating income increased 51% to 1,523.8 crore rupees, according to the report. Gross leasing in the first half totalled 2.7 million square feet, comprising 1.8 million square feet of new leases and 0.9 million square feet of renewals. The breakdown shows that renewals accounted for part of leasing activity, alongside new space brought under contract during the period. Total distributions for the first half amounted to 937.8 crore rupees, equivalent to 11.30 rupees per unit. These figures place the quarter’s 5.70-rupee distribution within the first-half cash performance, while covering different periods.
The trust’s results come as India’s office market recorded broad activity in the first nine months of 2026, with gross leasing reaching 61.06 million square feet, the highest level for that period in the records, according to JLL. After a slowdown in the middle of the year, gross leasing in the third quarter reached 23.17 million square feet, the strongest quarterly performance during the period covered by the report. Radha Dhir, JLL’s chief executive in India, said, "Deals that were pending in the second quarter were signed in the third quarter, and tenants supported their growth plans with firm commitments." The company said office leasing in the first half reached 37.9 million square feet, second only to the record level recorded in the first half of 2025 among comparable periods. This market context provides a backdrop for the trust’s reported leasing and occupancy figures, though the report did not specify Brookfield India REIT’s share of total market activity.
JLL’s report said office leasing in India in 2026 was on track to match the historic levels recorded in 2025, with gross leasing potentially reaching 100 million square feet over the next two to three years. That remains a market estimate in the company’s report, rather than a target announced by Brookfield India REIT. In another indicator of data due in India, the Ministry of Statistics and Programme Implementation set November 30, 2026, as the release date for the October industrial production index. Market data provided for the stock with ticker BN show a November 2 close of 41.46, with no currency specified in the supplied data. The supplied data do not include the session’s trading range, so the report does not give a low or high price.