India’s Only 100% Institutionally Managed Office REIT
Sustained Operational Excellence Across the Portfolio
Building a Sustainable Future
Maximizing Unitholder Value
Brookfield India REIT has demonstrated resilience and sustained growth during an inspiring three-year journey. We have spearheaded industry-defining initiatives that have set precedents in the evolving real estate landscape. We have meticulously crafted campuses with innovative infrastructure that empower businesses to succeed along with amenities and dynamic recreational spaces that nurture collaboration. These empower occupants to realize their fullest potential.
With our commitment to innovation and continuous enhancement, we are poised to expand our footprint further and unlock value creation for all stakeholders.
The period from FY 2020-21 to H1 FY 2021-22 presented formidable challenges for both the Indian economy and the real estate industry. The socioeconomic upheavals due to the pandemic triggered the emergence of the work from home trend, and reduced office space demand in India.
Despite weak market sentiments, Brookfield India REIT executed a successful IPO highlighting the quality of our assets and the investors’ confidence in our capabilities. High-quality assets coupled with our efforts around redefining workplaces and emphasizing sustainability factors ensured operational resilience even as office space demand hit low.
Executed a highly successful IPO with the main book getting oversubscribed by 8x
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Note: Multiple tenants are present across more than one office park.
The resurgence in office real estate demand began in Q3 FY 2021-22 with the return to office trend picking up momentum. A paradigm shift in workplace dynamics was observed, with corporates seeking spaces that foster connection and collaboration, help promote organizational culture and better work-life balance and are sustainable.
Brookfield India REIT’s high-quality, campus-styled workspaces that are sustainable and technology-enabled became a go-to destination for India's talent. We witnessed improved leasing activity and further enriched our portfolio through completing the acquisition of 100% of the equity share capital and CCDs of SDPL Noida which owned Candor TechSpace N2 at an acquisition price of ₹ 39.7B. This was funded through a preferential issue of ₹ 9.5B at ₹ 294.25 per unit, and a property level debt issue of ₹ 29.1B at 6.78% annually
Acquired 100% stake in Candor TechSpace N2, Noida, resulting in a 35% increase in operating area and 34% increase in gross asset value
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The period saw a healthy momentum in the Indian economy. Macro trends and factors like skilled talent availability and regulatory backing to the IT/ITeS sectors led to India emerging as a center of excellence for global talent.
Brookfield India REIT successfully delivered 0.2M sf expansion at Candor TechSpace N2, Noida, which was fully committed to a GCC within seven months of completion. Recognizing the growing trend of employees returning to the office and anticipating continued strong demand, Brookfield India REIT embarked on an ambitious expansion plan to double its portfolio.
Announced plans to acquire a combined 6.5M sf portfolio in Downtown Powai – Commercial/IT Park and Candor TechSpace G1, Gurugram in partnership with GIC.
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Benefiting from positive economic indicators, increased IT/ITeS sector hiring, and escalating demand from Global Capability Centers (GCCs), the demand for high-quality Grade-A commercial office space in India witnessed a significant uptick.
Brookfield India REIT, buoyed by the momentum, successfully completed the acquisition to double its portfolio size. Healthy demand along with an expanded portfolio resulted in robust leasing activity, resulting in scaling our sustained success.
Delivered new leasing of 1.9M sf, the highest since IPO with a re-leasing spread of 16%.
Announced proposed acquisition of 50% stake in North Commercial Portfolio from Bharti Group (Bharti Enterprises Limited and its affiliates), comprising dominant Grade-A properties – Worldmark Delhi, Airtel Center and Worldmark Gurugram.
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