Standalone Financial Statements
CHAIRMAN’S MESSAGE
One of the key drivers of our success lies in recognition of India as a global talent hub. India has swiftly transformed into the global "Office to the World," emerging as the preferred destination of choice for fostering global business operations and innovation. The rise of New India is being propelled by four global factors—Demographics, Digitalization, Decarbonization, and Deglobalization and we are best positioned to drive growth in our business on the back of these trends.
In the last two years, the number of global in-house captive centers established in India have nearly doubled compared to the preceding four years. Emergence of distributed delivery models, availability of a large talent pool and good IT connectivity will persist in fueling the growth of companies looking to do more work out of India. Against this backdrop, multinational companies operating in IT Services, GCCs and technology products are making capital investments in high-quality workspaces. India's technology services workforce is poised to grow from 5.1M in 2021 to over 12.2M by 2031.
Recognizing this need, Brookfield India REIT is at the forefront offering world-class workspaces that cater to the evolving needs of this dynamic talent pool. We remain committed to providing the essential infrastructure and ecosystem that serves as a backbone for the global services economy.
We recently completed acquisition of two large Grade A commercial assets – Candor TechSpace G1 and Downtown Powai – totaling 6.5 million square feet and valued at ₹112B. We were able to complete this large and transformative growth transaction through collaboration with a large global institutional investor alongside raising capital on local stock markets. Such collaboration highlights the confidence placed in Brookfield’s capabilities and reinforces its position as a preferred partner for local and global investors. This twofold growth in our portfolio is testament to our commitment and focus on our long-term strategy of expansion through acquisitions of high-quality assets in prime locations to enhance scale, diversification and long-term value creation.
We recognize that buildings are more than physical structures – they help shape our communities and can be catalysts for change. Embracing sustainability helps us reimagine the future of real estate and ultimately build a better world for our neighbours, our planet, and our business. We seek to create environments that are inspiring, safe, efficient, and vibrant for people who work in, live in, or visit them each day. The Brookfield India REIT has been awarded a 5-star rating for its environmental, social and governance performance from GRESB for the 2nd consecutive year and ranked #1 for management score in Asia, thereby setting a new benchmark. Brookfield India REIT has been recognized as the sector leader for sustainable office development in Asia. Our advancement of the Net Zero target by 10 years, from 2050 to 2040 across our properties in India underscores our commitment to a greener and sustainable future.
Looking ahead, we are well-positioned to capitalize on the immense opportunities presented by a growing Indian economy and the increasing demand for high-quality office assets. We remain deeply committed to our long-term strategy, continually improving ourselves to deliver enduring value.
I take this opportunity to thank all our stakeholders and our tenants for their continued support and trust during this journey. We remain focused on sustainable value creation and setting new benchmarks in the industry. We look forward to an exciting year end as we continue to deliver value to our shareholders and the communities in which we operate.
Sincerely,
