India · Delayed Price · Currency is INR Brookfield India Real Estate Trust Earnings Call Transcripts
Fiscal Year 2026
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Record leasing, higher occupancy, and the Ecoworld acquisition drove strong FY26 growth, with NOI up 24% and distributions up 11% year-over-year. Balance sheet strength and significant dry powder position the portfolio for further expansion and NAV growth.
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Q3 FY26 saw robust leasing, 92% occupancy, and a major Ecoworld acquisition, boosting scale and diversification. NOI and distributions grew double digits year-over-year, with strong balance sheet metrics and positive outlook for further DPU growth as occupancy rises.
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Q2 FY26 saw record leasing, 13% YoY NOI growth, and a proposed Ecoworld acquisition to expand the portfolio by 31%. Occupancy surpassed 90%, with strong SEZ ramp-up and robust DPU outlook. Ecoworld deal is expected to boost NAV, DPU, and dividend share.
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Gross leasing reached 650,000 sq ft in Q1 FY26, with strong SEZ demand and 89% portfolio occupancy. NOI and distributions grew double digits year-over-year, while a preferential issue and repo rate cuts support future growth and acquisitions.
Fiscal Year 2025
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FY25 saw robust growth with 3 million sq ft leased, occupancy up to 88%, and DPU rising 8.5% YoY. Strong leasing momentum continues, with guidance for 1.5–2 million sq ft in FY26 and DPU of INR 5.25 per unit expected for the next quarters.
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Gross leasing exceeded 1 million sq ft for the second straight quarter, driving occupancy above 87% and supporting 11% year-over-year NOI growth. QIP proceeds reduced LTV to 25%, enabling strategic acquisitions and projected 25% growth in distributions.
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Q2 FY25 saw 55% YoY growth in lease rentals and 40% YoY rise in adjusted NOI, with committed occupancy up to 85%. Guidance for FY25 remains at 87%-89% occupancy and INR 18.5 ± INR 0.25 per unit distribution, supported by robust leasing and sustainability initiatives.
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Strong leasing and acquisitions drove 99% YoY rental growth and 94% YoY NOI growth. Updated FY25 leasing guidance is 1.5-2M sq ft, with targeted exit occupancy of 87%-89% and distribution guidance of INR 18.5 ±25% per unit.