Brookfield India Real Estate Trust logo

Brookfield India Real Estate Trust

BIRET NSE
₹322.81 1.68 (0.52%)
Market Cap
₹26,789 Cr
P/E
44.53

Key Fundamentals

SmallcapREITsRealty
Market Cap
₹26,789 Cr
P/E (TTM)
44.53
EBITDA
₹2,243 Cr
Return on Equity
2.74%
Debt to Equity
0.85
Book Value
₹307.43
EPS (TTM)
₹7.25
52W High
₹375.69
52W Low
₹312.05

Price-based figures as of 13 Oct 2026, 15:29 IST · EPS basis: Consolidated · TTM

Tapetide Score

Data-driven rating, 0–100. How it works →

As of 2026-10-12
v2.0.0
58 Good
Overall score
Data confidence 100/100

Category scores

Quality Good 62
Returns, margins, earnings quality 22%
Valuation Strong 82
Cheap vs sector & own history 24%
Growth Strong 92
Sales & profit trajectory 9%
Financial Health Poor 15
Solvency, leverage, coverage 9%
Momentum Poor 32
Trend strength, vol-adjusted 12%
Ownership Average 52
FII/DII/promoter flows 24%

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 80.1% CAGR over last 5 years

Weaknesses

3
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 1.72% over last 3 years.
  • Promoters have pledged 90.0% of their holding.

Technical Indicators

Oscillators

BearishNeutralBullish

Bullish

Bearish
2
Neutral
4
Bullish
3

Overall

BearishNeutralBullish

Bearish

Bearish
12
Neutral
4
Bullish
3

Moving Averages

BearishNeutralBullish

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
24.18% lower than 3Y

change over 1 year

Net Income Growth
236% higher than 3Y

change over 1 year

Cash Flow Change
24.14%

change over 1 year

EBITDA Margin Change
-0.3%

change over 1 year Operating margin 72% · Jun 2026

AI Analysis — Bull vs Bear

Figures as of 9 Oct 2026
AI opinion · based on fundamentals
Risk medium

As of the 2026-10-09 close, Brookfield India Real Estate Trust traded at Rs 325.33, giving a market cap of about Rs 26,998.51 crore. That puts it at 44.87x trailing earnings and 1.06x book, near the bottom of its 52-week range of Rs 312.05 to Rs 375.69. Sales have compounded at 35% and profit at 54% over three years. Against that, ROE is 2.74%, ROCE is 4.6%, debt-to-equity is 0.85, interest coverage is low and 90% of the promoter (sponsor) holding is pledged. The trust is tagged here as Consumer Discretionary, but it is a listed office REIT, so ROE, P/E and dividend yield should be read with that structure in mind.

Bull Case 7
  • Revenue has grown quickly: 35% CAGR over 3 years, 35% on a TTM basis and 87% CAGR over 5 years. That points to a growing rent-generating portfolio, from new assets and rental growth.
  • Profit growth has been faster than sales growth: 80% CAGR over 5 years, 54% over 3 years and 105% on a TTM basis. That suggests operating leverage as the portfolio grows.
  • The P/B of 1.06 means the market values the units at about book value, which is a reasonable benchmark for an asset-heavy REIT.
  • At Rs 325.33, the price is about 4.3% above the 52-week low of Rs 312.05 and about 13.4% below the 52-week high of Rs 375.69. It sits in the lower part of its recent range.
  • Over 3 years the units have returned a 12% CAGR in price alone, before distributions.
  • The reported dividend yield of 1.73% probably understates what holders receive. REIT payouts usually include interest and capital repayment as well as dividends.
  • ROE has moved up from about 2% on a 3-year and 5-year basis to 3% last year (2.74% as reported). Improving profitability is a stated near-term positive.
Bear Case 7
  • 90% of the promoter (sponsor) holding is pledged. This is a governance and overhang risk if the pledged units are ever sold.
  • Interest coverage is low, and debt-to-equity is 0.85. That leaves earnings and distributions exposed to higher interest rates or refinancing costs.
  • Returns on capital are thin. ROE is 2.74%, the 3-year average is about 1.72% to 2%, and ROCE is 4.6%. All are likely below the trust's cost of debt and equity.
  • At 44.87x trailing EPS of Rs 7.25, the units look expensive on earnings, even allowing for REIT accounting.
  • The price has fallen 4% over the past year and is 13.4% below the 52-week high of Rs 375.69. Strong reported profit growth has not shown up in recent price performance.
  • The 5-year price CAGR is only 4%, well behind the 80% 5-year profit CAGR. Growth has not translated into unitholder price returns over time.
  • Some of the 87% 5-year sales CAGR likely comes from acquisitions on a small starting base. The 3-year sales CAGR is 35%, so future growth could slow.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

18h ago
Positives 2
  • GBKC Mumbai acquisition completed Sep 29

    Brookfield India REIT and NCW acquired 100% of Parthos Properties, which owns three floors in Godrej BKC, Mumbai, through a 50:50 joint venture. This adds space in one of Mumbai's premier business districts.

  • Powai Delphi stake rises to 86% Sep 22

    The REIT bought office condo units in the Delphi building, Powai, for ₹752 million. This raises its ownership to 86% of gross leased area and consolidates control of the asset.

Neutral 2
  • Institutional investor meetings held Oct 1

    Management held institutional investor meetings on September 15, September 30 and October 1, 2026. These covered business and financial updates for Q1FY27 (quarter ended June 30, 2026).

  • Presented at Jefferies India Forum Sep 18

    The REIT took part in Jefferies India Forum 2026 on September 18, 2026. It presented business and financial updates for the quarter ended June 30, 2026.

TL;DR: Brookfield India REIT is growing its Mumbai office portfolio. In September 2026 it completed the Godrej BKC floor acquisition through a 50:50 JV and spent ₹752 million to lift its Powai Delphi stake to 86%. None of the articles points to a direct risk, but the acquisitions may affect leverage and distribution yield, and the articles don't say how the deals were funded. Frequent investor meetings point to active capital-markets engagement, which may come before more acquisitions or fundraising. The trend looks steady to improving, with Q2FY27 results the next test of how the new assets are contributing.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
314
400
531
547
574
590
602
620
642
671
697
960
974
Expenses
103
131
154
138
160
171
192
187
192
206
206
263
272
Operating Profit
211
269
377
409
414
419
409
433
450
465
491
696
701
OPM %
67%
67%
71%
75%
72%
71%
68%
70%
70%
69%
70%
73%
72%
Other Income
7
19
30
3
18
13
34
20
12
23
37
27
57
Interest
120
185
273
275
279
287
286
227
205
202
212
355
338
Depreciation
120
84
105
103
102
105
112
111
105
107
113
145
142
PBT
-22
20
30
35
51
40
46
115
153
179
203
223
278
Tax %
22%
90%
44%
95%
23%
44%
49%
31%
13%
17%
1%
76%
20%
Net Profit
-27
2
17
2
39
23
23
79
132
149
201
54
221
EPS (₹)
-0.81
0.04
0.38
0.27
1.08
0.64
0.53
1.22
2.05
2.18
2.41
0.49
2.17
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
131
877
1,197
1,787
2,390
2,971
3,301
Expenses
48
258
381
531
716
869
947
Operating Profit
83
618
816
1,256
1,674
2,102
2,354
OPM %
63%
71%
68%
70%
70%
71%
71%
Other Income
5
22
32
61
83
100
145
Interest
41
208
432
852
1,078
975
1,108
Depreciation
32
208
275
411
430
469
507
PBT
15
224
140
54
250
758
884
Tax %
-69%
-10%
7%
128%
36%
29%
—
Net Profit
25
246
131
-15
160
537
626
EPS (₹)
0.84
7.35
3.92
0.28
3.04
6.42
7.25
Div. Payout %
0%
274%
0%
0%
622%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
8,177
8,987
8,656
10,910
16,419
20,812
Reserves
25
-105
-322
-786
-1,081
-1,292
Borrowings
2,111
5,190
5,508
12,113
9,083
16,583
Other Liabilities
681
713
799
3,302
2,166
3,313
Total Liabilities
10,995
14,786
14,641
25,539
26,588
39,416
Fixed Assets
10,107
13,632
13,546
23,998
23,855
36,640
CWIP
0
0
0
0
0
0
Investments
0
0
0
0
1,072
883
Other Assets
887
1,154
1,095
1,540
1,660
1,892
Total Assets
10,995
14,786
14,641
25,539
26,588
39,416
Figures in ₹ Crores

Cash Flow

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
140
606
953
1,433
1,841
2,285
Investing
30
-1,385
-109
-2,028
-74
-6,048
Financing
146
667
-838
756
-1,571
3,862
Net Cash Flow
316
-111
5
161
196
100
Free Cash Flow
91
492
948
1,415
1,840
2,284
CFO/OP
100
101
114
112
110
110
Figures in ₹ Crores

Ratios

Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
67
9
16
15
10
14
Cash Conversion Cycle
67
9
16
15
10
14
Working Capital Days
-1,239
-193
-153
-319
-153
-176
ROCE %
—
4%
4%
5%
5%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Brookfield India Real Estate Trust insights

55 extracted metrics + investor summaries across FY20–FY27.

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Shareholding Pattern

Public7.62%DIIs39.34%Promot.19.37%Others33.67%As ofJun 2026
90.00% of promoter holding pledged as of 10 Sep 2026

Documents

Frequently Asked Questions about Brookfield India Real Estate Trust

What does Brookfield India Real Estate Trust do?
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]
Where is Brookfield India Real Estate Trust (BIRET) listed?
Brookfield India Real Estate Trust trades as BIRET on the NSE and under code 543261 on the BSE.
Which sector does Brookfield India Real Estate Trust belong to?
Brookfield India Real Estate Trust is classified under the Consumer Discretionary sector, in the Realty industry.
What is the market capitalisation of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust has a market capitalisation of ₹26,789 Cr as of 13 Oct 2026, which places it in the Large Cap band.
What is the PE ratio of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust trades at a PE ratio of 44.53 as of 13 Oct 2026, on earnings per share of ₹7.25, against a book value of ₹307.43 per share.
What is the 52-week high and low of Brookfield India Real Estate Trust?
Over the last 52 weeks Brookfield India Real Estate Trust has traded between ₹312.05 and ₹375.69 as of 13 Oct 2026.
Does Brookfield India Real Estate Trust pay dividends?
Brookfield India Real Estate Trust has a dividend yield of 1.73%.
What is the Return on Equity (ROE) of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust reported a return on equity of 2.74%. Its debt-to-equity ratio is 0.85.

Company Information

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]

Website brookfieldindiareit.in
CEO Mr. Alok Aggarwal
Listed 2021-02-16
Face Value ₹ 323
Shares Outstanding 82,98,80,869

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