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Brookfield India REIT Q2 Review - Rebound On The Cards: ICICI Securities

Brookfield India REIT Q2 Review - Rebound On The Cards: ICICI Securities

<div class="paragraphs"><p>The silhouettes of towers under construction are reflected in the facade of a commercial building in the Lower Parel area of Mumbai. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
The silhouettes of towers under construction are reflected in the facade of a commercial building in the Lower Parel area of Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

The Brookfield India Real Estate Investment Trust delivered a resilient Q2 FY22 performance inspite of a 400 basis points QoQ same-store occupancy decline to 85% with over 99% of rental collections and flat operating lease rentals of Rs 1.56 billion on YoY basis.

In H2 FY22, the REIT manager expects to renew 50% of scheduled expiries of 0.6 million square feet with new letter of intents of 0.16 msf and ongoing discussions for 1.3 msf of area, likely to result in portfolio occupancy remaining flat in H2 FY22 before increasing from H1 FY23 based on recovery in office leasing.

Click on the attachment to read the full report:

ICICI Securities Brookfield Q2FY22 Results Update.pdf

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