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 ₹ 18,075 Cr.
- Current Price ₹ 298
- High / Low ₹ 324 / 250
- Stock P/E 25.3
- Book Value ₹ 254
- Dividend Yield 6.43 %
- ROCE 5.92 %
- ROE 5.41 %
- Face Value ₹ 274
Pros
- Company is almost debt free.
- Stock is trading at 1.17 times its book value
- Stock is providing a good dividend yield of 6.43%.
- Company is expected to give good quarter
Cons
- Promoter holding has decreased over last quarter: -8.44%
- 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.
- Earnings include an other income of Rs.219 Cr.
- Working capital days have increased from 63.0 days to 91.8 days
* 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
Sector: Real Estate Investment Trusts Industry: Construction
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 | |
|---|---|---|---|---|---|---|
| 957 | -0 | 436 | 335 | 389 | 631 | |
| 363 | 10 | 17 | 19 | 58 | 28 | |
| Operating Profit | 594 | -10 | 419 | 316 | 331 | 604 |
| OPM % | 62% | 87% | 96% | 94% | 85% | 96% |
| 274 | 72 | 35 | 36 | 0 | 219 | |
| Interest | 714 | -0 | -0 | -0 | 34 | 71 |
| Depreciation | 112 | -0 | -0 | -0 | -0 | -0 |
| Profit before tax | 41 | 63 | 454 | 352 | 297 | 752 |
| Tax % | 64% | -0% | 0% | 4% | -0% | 5% |
| 15 | 63 | 452 | 339 | 298 | 714 | |
| EPS in Rs | 2.07 | 13.50 | 10.11 | 6.80 | 11.76 | |
| Dividend Payout % | -0% | -0% | 149% | -0% | -0% | 149% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -8% |
| 3 Years: | 13% |
| TTM: | 62% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 38% |
| 3 Years: | 18% |
| TTM: | 139% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -1% |
| 1 Year: | 18% |
| 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 | -163 | 50 | 68 | 29 | 92 | |
| ROCE % | 1% | 5% | 4% | 3% | 6% |
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
8 May - President of Brookfield India REIT Manager resigns effective May 8, 2025; CEO and CFO remain key personnel.
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Reg 23(5)(i): Disclosure of material issue
8 May - Brookfield India REIT submits ESG and sustainability report for FY ended March 31, 2024.
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Reg 23(5)(i): Disclosure of material issue
7 May - Brookfield India REIT publishes audited financials for year ended March 31, 2025, with clean audit opinion.
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Reg 23(5)(i): Disclosure of material issue
7 May - Brookfield India REIT announces audited financials for year ended March 31, 2025, showing growth and distributions.
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Reg 23(5)(i): Disclosure of material issue
7 May - Newspaper ad published for Q4 and FY 2025 financial results of Brookfield India REIT.
Annual reports
Concalls
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Jan 2025TranscriptPPT
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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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Jul 2022TranscriptNotesPPTREC
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Jun 2022TranscriptNotesPPTREC
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Feb 2022TranscriptPPT
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Jan 2022TranscriptNotesPPTREC
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Nov 2021TranscriptPPT
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Aug 2021TranscriptPPT
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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]