Brookfield India Real Estate Trust reported a 60 per cent annual rise in net operating income at ₹240.5 crore in the December quarter, helped by an improvement in operating lease rentals, an increase in common area maintenance margin, and income support of ₹18.3 crore.
The REIT saw a 43 per cent annual rise in operating lease rentals in the quarter under review at ₹62.2 crore with the addition of new office space in Gurugram, while new leasing and contractual escalations also added to the income.
Total revenue in the quarter rose 54 per cent on a year to ₹104.8 crore with offices seeing higher physical attendance and occupiers moving to longer hours of operation, the REIT said.
During the quarter, its gross leasing was at 3.3 lakh square feet, including 2.4 lakh square feet of new leasing and 91,000 square feet of renewals. It also achieved 12 per cent average rent escalation on 15 lakh square feet of leased area.
It also announced a distribution at ₹5 per unit to its unitholders translating into ₹167.5 crore.