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 robust demand position the portfolio for continued expansion and higher distributions.
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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 demand from GCCs and SEZ assets. NOI rose 13% YOY, and a preferential issue of INR 1,000 crore will fund future acquisitions. Portfolio occupancy is targeted at 93% by year-end, with robust leasing and rental growth expected.
Fiscal Year 2025
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Strong FY25 performance with 3 million sq ft leased, occupancy up to 88%, and DPU rising 8.5% YoY. Q4 NOI grew 16% YoY, and robust leasing momentum is expected to continue, targeting 92–94% occupancy and stable distributions in FY26.
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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.