Brookfield India Real Estate Trust
Brookfield India Real Estate Trust REIT is an India-based commercial real estate vehicle. The investment trust's portfolio consists of campus-format office parks. Its commercial assets are located in Mumbai, Gurgaon, Noida and Kolkata.[1]
- Market Cap ₹ 19,418 Cr.
- Current Price ₹ 320
- High / Low ₹ 326 / 255
- Stock P/E 24.5
- Book Value ₹ 254
- Dividend Yield 1.64 %
- ROCE 5.92 %
- ROE 5.41 %
- Face Value ₹ 274
Pros
- Company is almost debt free.
- Company is expected to give good quarter
Cons
- The company has delivered a poor sales growth of -7.98% over past five years.
- Tax rate seems low
- Company has a low return on equity of 4.22% over last 3 years.
- Promoter holding has decreased over last 3 years: -27.3%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Realty Realty Real Estate Investment Trusts (REITs)
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 957 | 0 | 436 | 335 | 389 | 631 | 707 | |
| 363 | 10 | 17 | 19 | 58 | 28 | 30 | |
| Operating Profit | 594 | -10 | 419 | 316 | 331 | 604 | 677 |
| OPM % | 62% | 87% | 96% | 94% | 85% | 96% | 96% |
| 274 | 72 | 35 | 36 | 0 | 219 | 219 | |
| Interest | 714 | 0 | 0 | 0 | 34 | 71 | 66 |
| Depreciation | 112 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 41 | 63 | 454 | 352 | 297 | 752 | 830 |
| Tax % | 64% | 0% | 0% | 4% | -0% | 5% | |
| 15 | 63 | 452 | 339 | 298 | 714 | 794 | |
| EPS in Rs | 2.07 | 13.50 | 10.11 | 6.80 | 11.76 | 13.79 | |
| Dividend Payout % | 0% | 0% | 149% | 0% | 0% | 1,819% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -8% |
| 3 Years: | 13% |
| TTM: | 60% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 38% |
| 3 Years: | 18% |
| TTM: | 139% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -2% |
| 1 Year: | 20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 4% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 65 | 8,177 | 8,987 | 8,656 | 10,910 | 15,111 |
| Reserves | -2,285 | 63 | 139 | 128 | 71 | 304 |
| 6,922 | 0 | 0 | 0 | 728 | 669 | |
| 673 | 134 | 5 | 19 | 18 | 44 | |
| Total Liabilities | 5,376 | 8,374 | 9,131 | 8,803 | 11,729 | 16,128 |
| 4,517 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 4,504 | 6,297 | 6,332 | 9,537 | 11,187 |
| 858 | 3,870 | 2,834 | 2,471 | 2,191 | 4,941 | |
| Total Assets | 5,376 | 8,374 | 9,131 | 8,803 | 11,729 | 16,128 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 532 | -1 | -26 | -28 | -15 | -29 | |
| 98 | -3,610 | 185 | 701 | -2,108 | -2,363 | |
| -436 | 3,773 | -144 | -681 | 2,194 | 2,362 | |
| Net Cash Flow | 194 | 162 | 14 | -7 | 71 | -30 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 17 | 0 | 0 | 0 | 0 | |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 17 | 0 | 0 | 0 | 0 | |
| Working Capital Days | -229 | 50 | 68 | -655 | 5 | |
| ROCE % | 1% | 5% | 4% | 3% | 6% |
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
2d - Unitholders approved preferential issue of up to 32,258,065 units on Aug 26, 2025; 71.37% turnout, 99.999% favourable.
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Reg 23(5)(g): Outcome of Unitholder meetings
26 Aug - Preferential issue up to INR 1,000 crore (32,258,065 units) at INR 310, approved August 26, 2025.
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Reg 23(5)(i): Disclosure of material issue
25 Aug - Brookfield India REIT manager held institutional investor meetings Aug 21–22, 2025 on quarter ended June 30, 2025.
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Reg 23(5)(i): Disclosure of material issue
19 Aug - Corrigendum: ₹1,000 crore third-party preferential issue for acquisitions, timeline by end FY2026-27; EM Aug 26, 2025.
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Reg 23(5)(i): Disclosure of material issue
14 Aug - Brookfield India REIT held institutional investor meetings for Q2 2025 business and financial updates.
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Jan 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Dec 2023Transcript PPT
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Nov 2023TranscriptNotesPPT
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Aug 2023Transcript PPT REC
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Jul 2023TranscriptNotesPPTREC
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May 2023Transcript PPT REC
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Feb 2023TranscriptNotesPPT
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Nov 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT REC
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Jun 2022TranscriptNotesPPTREC
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Jan 2022TranscriptNotesPPT REC
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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May 2021Transcript PPT
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May 2021TranscriptNotesPPT
Asset Portfolio
As per FY21, the investment trust owns 4 office parks with total leasable area of ~14 million sq. ft. in gateway cities i.e. Gurugram, Noida, Kolkata and Mumbai.[1] The assets include :-
1. Candor Techspace G2 (Gurugram)
2. Candor Techspace N1 (Noida)
3. Candor Techspace K1 (Kolkata)
4. Nensington (Mumbai).[2]