Brookfield India REIT - Building For The Future: ICICI Securities
Overall portfolio physical occupancy (footfalls) which was 21% in April 2022 has improved to 50% in October 2022.
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ICICI Securities Report
We attended Brookfield India real estate investment trust’s analyst meet and site visits in National Capital Region and Mumbai where the company reiterated its strategy and business outlook for its office assets including:
overall portfolio physical occupancy (footfalls) which was 21% in April 2022 has improved to 50% in October 2022 and continues to see a steady rise;
the REIT manager maintains its target of 18% embedded net operating income growth from annual run-rate of Rs 9.6 billion currently to Rs 11.4 billion in the medium term through vacant area lease-up, mark-to-market on renewals and margin recovery;
sponsor right of first offer assets of 6.4 million square feet across Gurugram, NCR and Powai, Mumbai may drive inorganic growth; and
the REIT manager continues to invest in refurbishment and upgradation of operational assets to attract more high quality tenants at enhanced rentals.
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