B

Brookfield India Real Estate Trust

BIRET NSE

Key Fundamentals

SmallcapREITsRealty
Market Cap
₹28,631 Cr
P/E Ratio
47.15
EBITDA
₹2,243 Cr
Return on Equity
2.74%
Debt to Equity
0.85
Book Value
₹307.43
EPS
₹1.26
52W High
₹375.69
52W Low
₹312.05

Insights

Beta

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

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52 extracted metrics + investor summaries across FY21–FY26.

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Tapetide Score

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Technical Indicators

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.

Growth Rate

Revenue Growth
24.18% ↗
Net Income Growth
235.50% ↘
Cash Flow Change
24.14% ↗
ROE
174.00% ↘
ROCE
-11.88% ↘
EBITDA Margin (Avg.)
-0.30% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Brookfield India Real Estate Trust is a ₹28,354 crore office REIT that has delivered 35% TTM revenue growth and 80% compounded profit CAGR over five years, with committed occupancy rising to 88% in FY25 and distributions per unit growing 8.5% YoY. However, the trust carries a low 3-year ROE of ~2%, promoters have pledged 90% of their holdings, and interest coverage remains a concern.

Bull Case 8
  • Strong revenue momentum with TTM compounded sales growth of 35% and 5-year sales CAGR of 87%
  • Compounded profit growth of 80% CAGR over the last 5 years and 105% TTM profit growth indicate rapid earnings expansion
  • Committed occupancy improved to 88% in FY25 (from ~80% levels in FY23), with management targeting 92-94% in FY26
  • Distributions per unit rose 8.5% YoY to Rs 19.25 per unit in FY25, providing visible income growth
  • Re-leasing spreads of 18% in FY25 demonstrate strong rental pricing power across the portfolio
  • Operating area expanded 17% YoY to 24.5 million sq ft in FY25, growing the revenue base organically and via acquisitions
  • Gross leasing of 3 million sq ft in FY25 shows sustained tenant demand; ICRA AAA (Stable) rating provides access to low-cost debt
  • Backed by Brookfield Asset Management with ~US$10 billion India real estate AUM, offering acquisition pipeline and institutional governance
Bear Case 8
  • Promoters have pledged 90% of their unitholdings, creating overhang risk if margin calls are triggered
  • 3-year average ROE of only ~2% (1.72% reported) is extremely low, indicating poor returns on unitholders' equity
  • Low interest coverage ratio flagged as a concern; average borrowing cost at 7.3% pressures net income in a high-rate environment
  • P/E ratio of 45.8x is elevated for a REIT, implying the market is pricing in significant future growth that may not materialize
  • P/B ratio of 1.12x combined with low ROE suggests the market is paying a premium relative to the return the trust generates on its assets
  • Dividend yield of 1.65% is modest and below fixed-deposit rates, limiting appeal for pure income-seeking investors
  • Net debt stood at approximately ₹7,500 crore as of March 2025; total debt on balance sheet rose from ₹669 crore in FY25 standalone to ₹2,712 crore by FY26, reflecting rising leverage
  • Stock CAGR of only 5% over 5 years indicates limited capital appreciation despite strong operating growth, suggesting value leakage or dilution

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

AI News Digest

Anthropic anthropic claude-opus-4.6 18h ago
Positives 2
  • Revenue and profit surge Q1 Aug 12

    Brookfield India REIT reported sharp rise in Q1FY26 revenue and net profit with net distributable cash flows growing 45% YoY to ₹4,647.33 million, supporting ₹5.60 per unit distribution.

  • ₹17,000 mn BKC acquisition planned Aug 10

    BIRET seeks unitholder approval for a 50:50 partnership with NCW to acquire a Grade A BKC asset worth ₹17,000 million. Q1 FY27 NOI growth stood at 51% with ₹5.60 DPU declared.

Neutral 3
  • Q1 FY27 earnings call scheduled Aug 6

    Brookfield India REIT to host earnings call on Aug 11, 2026, to discuss Q1 FY27 results with investors.

  • Unitholding pattern disclosed Q1FY26 Jul 21

    Sponsors hold 19.37% while public holding stands at 80.63% as per Q1FY26 unitholding pattern disclosure.

  • Sixth Annual Meeting held Jul 20

    Annual Meeting conducted on July 20, 2026 via video conferencing. Unitholders approved FY26 audited financial statements and valuation report.

TL;DR: Brookfield India REIT is delivering strong operational performance with 45% YoY growth in net distributable cash flows and 51% NOI growth, while maintaining a healthy ₹5.60 per unit distribution. The planned ₹17,000 mn BKC acquisition signals confidence in expanding the portfolio with Grade A assets. No material headwinds are visible in recent news flow. The trend is clearly improving with robust income growth and an inorganic expansion strategy that could further boost distributions if executed well.

Quarterly Results

  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 in Rs
-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

  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 in Rs
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

  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

  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

  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
-321
-153
-176
ROCE %
—
4%
4%
5%
5%
5%

Shareholding Pattern

As of Jun 2026
DIIs 39.34%
Others 33.67%
Promoters 19.37%
Public 7.62%
Total 100.00%
  Feb 2021Mar 2021Jun 2021Sep 2021Dec 2021Jan 2022Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Aug 2023Sep 2023Dec 2023Mar 2024Jun 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Apr 2026Jun 2026
Promoters
54.37%
54.37%
54.37%
54.37%
54.37%
51.50%
53.74%
53.74%
53.74%
53.74%
53.74%
53.74%
43.90%
43.90%
43.90%
43.90%
40.16%
31.72%
26.45%
26.45%
25.12%
21.45%
21.45%
19.37%
19.37%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
DIIs
17.72%
18.24%
20.02%
18.57%
18.05%
20.23%
19.26%
18.73%
18.46%
18.60%
19.04%
19.28%
26.36%
27.11%
27.26%
27.96%
25.03%
33.14%
31.29%
31.17%
29.51%
36.70%
38.74%
39.24%
39.34%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.31%
5.98%
6.67%
8.02%
8.54%
8.09%
8.40%
8.64%
8.91%
9.14%
8.70%
8.77%
7.03%
7.26%
8.21%
8.68%
8.13%
6.79%
7.23%
7.33%
8.33%
7.33%
7.83%
7.07%
7.62%
Others
24.61%
21.42%
18.94%
19.04%
19.05%
20.17%
18.59%
18.89%
18.89%
18.52%
18.52%
18.21%
22.70%
21.72%
20.62%
19.45%
26.68%
28.34%
35.03%
35.04%
37.04%
34.52%
31.98%
34.32%
33.67%
No. of Shareholders
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

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 is listed on the Indian stock exchanges. It is listed on NSE: BIRET and BSE: 543261. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Brookfield India Real Estate Trust belong to?
Brookfield India Real Estate Trust operates in the Consumer Discretionary sector within the Realty industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust has a market capitalisation of approximately ₹28630.89 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Brookfield India Real Estate Trust?
The Price-to-Earnings (PE) ratio of Brookfield India Real Estate Trust is 47.15. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Brookfield India Real Estate Trust?
Over the past 52 weeks, Brookfield India Real Estate Trust has traded between a low of ₹312.05 and a high of ₹375.69. This range helps investors understand the stock's price volatility and recent trading levels.
Does Brookfield India Real Estate Trust pay dividends?
Yes, Brookfield India Real Estate Trust has a dividend yield of 1.63%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust has a Return on Equity (ROE) of 2.74%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Brookfield India Real Estate Trust on Tapetide?
On Tapetide, you can view Brookfield India Real Estate Trust's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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

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