Brookfield India Real Estate Trust (BIRET), India’s only 100% institutionally managed pan-India office REIT, announced a solid financial and operational performance in Q3FY26. Brookfield India REIT Q3 FY26 results demonstrated steady growth in leasing, income, and distributions while successfully closing a landmark acquisition in Bengaluru’s prime office corridor.
Brookfield India REIT Q3 FY26 Results:
| Metric | Q3 FY25 | Q3 FY26 | YoY Growth (%) | Key Commentary |
|---|---|---|---|---|
| Operating Lease Rentals (OLR) | 442.6 | 500.3 | +13.0 | Driven by new leasing, renewals, and contractual escalations |
| Revenue from Operations | 601.5 | 690.4 | +14.8 | Higher OLR and CAM income |
| Net Operating Income (NOI) | 474.5 | 540.4 | +13.9 | Supported by higher occupancy and margin expansion |
| Distribution per Unit (INR) | 4.90 | 5.40 | +10.2 | Reflecting strong cash flow generation |
| Total Distribution | 360 | 400 | +11 | Consistent growth in quarterly payouts |
| Committed Occupancy (%) | 87 | 92 | +500 bps | Leasing momentum led by GCC demand |
| Re-Leasing Spread (%) | 15 | 17 | — | Healthy rent growth across markets |
| Same-Store NOI Growth | — | +9% YoY | — | Operational leverage and rental escalations |
- Record Date: 3 Feb 2026
- Payout Date: 10 Feb 2026
- LTV: 31.5%
- Average Borrowing Cost: 7.6%
- Credit Rating: AAA (ICRA, CRISIL)
Brookfield India REIT 9M FY26 Results
| Metric | 9M FY25 | 9M FY26 | YoY Growth (%) | Key Commentary |
|---|---|---|---|---|
| Operating Lease Rentals (OLR) | 1,288.6 | 1,434.3 | +11.3 | Expansion in leased area and escalations |
| Revenue from Operations | 1,765.5 | 2,002.7 | +13.4 | Higher CAM income due to improved occupancy |
| Net Operating Income (NOI) | 1,365.6 | 1,548.4 | +13.4 | Sustained rental growth and strong portfolio performance |
| Distribution per Unit (INR) | 13.90 | 15.90 | +14.4 | INR 10.6 Bn distributed during 9M FY2026 |
| Total Distribution | 930 | 1,060 | +14 | Stable and rising distributions |
| Same-Store NOI Growth | — | +11% YoY | — | Boosted by re-leasing and mark-to-market gains |
| Gross Leasing (MSF) | 1.8 | 2.4 | +33 | 49% contribution from GCCs |
| Average Re-Leasing Spread (%) | 17 | 19 | — | Healthy market rent recovery |
Operational & Leasing Highlights
| Metric | Q3 FY2026 | QoQ / YoY Trend | Remarks |
|---|---|---|---|
| Gross Leasing Volume | 1.2 MSF | +32% QoQ | Robust expansion demand |
| Committed Occupancy | 92% | +200 bps QoQ / +500 bps YoY | Broad-based improvement |
| Weighted Average Lease Expiry (Years) | 6.5 | Stable | Long-tenure leases ensure income visibility |
| In-Place Rent (INR/PSF/Month) | 101 | +2% QoQ | Steady rent growth |
| GCC Tenant Share | 44% (Q3) / 49% (YTD) | — | Indicates strong multinational tenant demand |
Ecoworld Bengaluru Acquisition
Brookfield India REIT completed the acquisition of Ecoworld, a 7.7 million sq ft Grade-A office campus on Bengaluru’s Outer Ring Road, on December 24, 2025. The deal expanded the REIT’s operating area by 31% and boosted its GAV by 35%, making Bengaluru contribute 32% of the total portfolio value. Post-acquisition, the share of global capability centres increased from 37% to 45%, while the top-ten-tenant concentration declined from 34% to 30%, enhancing diversification and income stability. Ecoworld’s acquisition strengthens Brookfield India REIT’s presence in India’s most dynamic office market and positions it for sustained growth.
Portfolio Snapshot (Post-Acquisition)
| Metric | Value |
|---|---|
| Total Leasable Area | 37 MSF |
| Operating Area | 32.4 MSF |
| Committed Occupancy | 92% |
| WALE | 6.5 years |
| Average In-Place Rent | INR 101 / PSF / month |
| Top Ten Tenants | TCS, Cognizant, Capgemini, Bharti Airtel, Morgan Stanley, Honeywell, CoWrks, Global BFSI majors |
Final Words
Brookfield India REIT Q3 & 9M FY26 results highlight its operational strength and disciplined execution. The Ecoworld acquisition transforms its scale, deepens Bengaluru exposure, and enhances tenant diversity. With record leasing, low leverage, and an expanding institutional investor base, BIRET is positioned for sustained distribution growth and long-term value creation driven by India’s GCC-led office demand.
For more details related to IPO GMP, SEBI IPO Approval, REIT, InvIT and Live Subscription stay tuned to IPO Central.