Brookfield India Real Estate Trust · NSE:BIRET.RR
Brookfield India Real Estate Trust — Q4 FY2026 Earnings Presentation
41 slides from Brookfield India Real Estate Trust's earnings presentation, May 11, 2026
Slide 1: Investor Update Q4 FY2026
Investor Update Q4 FY2026 May 11, 2026 BROOKFIELDINDIAREIT.IN 1 DOWNTOWN POWAI (SEZ), MUMBAI
Slide 2: Disclaimer
Disclaimer By reading this presentation (the “Presentation”), you agree to be bound by the following limitations: This Presentation is for information purposes only without regard to specific objectives, financial situations or needs of any particular person, and should not be disclosed, reproduced,
Slide 3: High Quality Properties in Gateway Cities
High Quality Properties in Gateway Cities India’s only 100% institutionally managed pan-India office REIT SELECT ASSETS 32.5 MSF Gurugram, Noida, Operating Area New Delhi 33% YoY 17 93% ECOWORLD, BENGALURU Committed Occupancy ~41% YoY decline in vacancy 3 Mumbai, 4 Kolkata Rs 103 PSF Pune 8 WORLDM
Slide 4: 5 Years Since IPO | 5x AUM Growth
5 Years Since IPO | 5x AUM Growth GAV AND OPERATING AREA GROWTH 32.5 MSF 35.0 Gross Asset Value 30.0 Operating Area 24.5 MSF Rs 565 B 25.0 20.9 MSF 20.0 14.1 MSF 14.3 MSF Rs 380 B 15.0 10.3 MSF Rs 292 B 10.0 Rs 160 B Rs 164 B 5.0 M Rs 115 B 0.0 M FY21 FY22 FY23 FY24 FY25 FY26 NORTH COMMERCIAL N2 G1
Slide 5: FY2026 Business Highlights
FY2026 Business Highlights We have executed on our stated strategy and are poised for continued growth Metric Performance Record gross leasing of 4.0 MSF (FY2026) and 1.6 MSF (Q4 FY2026) Re-leasing spread of 18% (FY2026) and 15% (Q4 FY2026) 1 Leasing Committed Occupancy at 93%, 5% YoY Achieved 0.7
Slide 6: FY2026 Leasing
1 FY2026 Leasing Record 4.0 MSF(1) gross leasing with healthy demand across product and tenant categories STRONG LEASING ACROSS CATEGORIES; PROGRESSING TOWARDS STABILISATION, LED ~50% CONTRIBUTION FROM GCCs BY SEZ OCCUPANCY GROWTH AND RESILIENT NON-SEZ OCCUPANCY IT / Commercial 27% COMMITTED OCCUPAN
Slide 7: Q4 FY2026 Leasing
1 Q4 FY2026 Leasing Robust leasing performance with 1.6 MSF(1) of gross leasing; 50% contribution from GCCs LEASING UPDATE New Gross Renewals Global Financial Leasing Leasing Services Firm Area 1,153,000 453,000 1,606,000 (SF) Accenture SEZ Properties 1,033,000 236,000 1,269,000 (SF) Average Rent(2)
Slide 8: Leasing | Case Studies
1 Leasing | Case Studies Achieved 0.7 MSF early re-leasing / renewals of upcoming term expiries in FY2027 by offering expansion to existing tenants and securing renewals well in advance EXPANSION DEMAND LED RE-LEASING DE-RISKING THROUGH ADVANCED RENEWAL Accenture 513 KSF 175 KSF 224 KSF 9 MONTHS LEA
Slide 9: Income and Distributions
2 Income and Distributions FY2026 FINANCIAL HIGHLIGHTS Q4 FY2026 - DPU COMPOSITION Rs 0.06 , 1% Rs 22.9 Billion Rs 0.88 , 16% NET OPERATING INCOME (1) Rs 1.60 , 29% Rs 15.2 Billion Rs 5.50 DISTRIBUTIONS (2) per unit Rs 21.40 DPU 11.2% vs FY2025 Rs 2.96 , 54% (3) Interest on Shareholder Loan (4) Re
Slide 10: Growth and Acquisitions | Ecoworld
3 Growth and Acquisitions | Ecoworld Acquired Ecoworld in Q3 FY2026, making large-scale entry in Bengaluru INCREASED SCALE + DIVERSIFICATION + QUALITY 31% 35%(1) OPERATING CONSOLIDATED AREA GAV 32%(1) 8%(2) BENGALURU’S GCC SHARE IN GAV(3) CONCENTRATION PRIMARY INVESTMENT(4) OF RS 11.3 BILLIO
Slide 11: Growth and Acquisitions | Inorganic Growth Headroom
3 Growth and Acquisitions | Inorganic Growth Headroom Successfully raised Rs 26 Billion through QIP in April 2026 UNITHOLDING PATTERN Rs 26 BILLION QUALIFIED INSTITUTIONAL PLACEMENT 19% (2) 32% Brookfield Group Mutual Funds ~ Rs 270 FPIs Issue Price: Rs 323 / unit Billion(1) 25% Insurance Companies
Slide 12: Growth and Acquisitions | Inorganic Growth Opportunities
4 Growth and Acquisitions | Inorganic Growth Opportunities Our Sponsor Group has high-quality properties across key gateway office markets CONSOLIDATION OF NORTH COMMERCIAL PORTFOLIO (3.3 MSF)(1) BLUEGRASS, PUNE (2.1 MSF) ECOSPACE, BENGALURU (1.6 MSF) FLOORS IN GBKC, MUMBAI (0.3 MSF) WATERSTONES, MU
Slide 13: Business Updates
CANDOR TECHSPACE G2, GURUGRAM 01 Business Updates BROOKFIELDINDIAREIT.IN
Slide 14: Significantly Complete and Diversified Portfolio
Significantly Complete and Diversified Portfolio Our portfolio has a Committed Occupancy of 93% and a long-dated WALE of 6.7 Yrs. In-place Dev. Asset Economic Operating Leased Area Committed WALE Asset Rent Potential Value Interest % Area (MSF) (MSF)(1) Occ. % (1) (Yrs.) (Rs PSF) (2) (MSF) (Rs B) Ec
Slide 15: Value Diversification
Value Diversification Majority of the portfolio value is contributed by high growth micro-markets of Outer Ring Road, Bengaluru and Powai, Mumbai AT-SHARE GAV(1) AT-SHARE GAV(1) (BY GEOGRAPHY) (BY ASSET) Ecoworld, Bengaluru, 32% Bengaluru, 32% Downtown Mumbai, Powai, Mumbai, 17% 17% New Delhi, 5% Ot
Slide 16: High-quality Tenant Roster
High-quality Tenant Roster SECTOR DIVERSIFICATION OF TENANTS(1) TOP 10 TENANTS(1) % Gross % Leased Tenant Name Industry Contracted Area Rentals Real Estate and Infrastructure, TCS Technology Services 5% 6% 2% Others, Healthcare, 4% 17% Accenture Consulting 5% 6% Industrials and Logistics, 4% Bharti
Slide 17: Lease Expiry Profile
Lease Expiry Profile Well staggered lease expiry profile with ~35% of the contracted rentals due for expiry till 2030; secured 0.7 MSF commitments against re-leasing / renewal of future expiries in FY2027 4.0 LEASE EXPIRY SCHEDULE(1) 35% 50% 27% 21% 10% 3.5 Achieved Renewals / Re-Leasing 3.0 2.8 0%
Slide 18: ESG | Strong Sustainability Focus
ESG | Strong Sustainability Focus Continued recognition from global ESG institutions reaffirms our leadership in sustainability Brookfield India REIT received the Golden Peacock Award for Business Excellence from the Institute of Directors (IOD), in recognition of its strong governance framework, op
Slide 19: Financial Updates
WORLDMARK, GURUGRAM 02 Financial Updates BROOKFIELDINDIAREIT.IN
Slide 20: Property Income
Property Income Rs Million FY2026 FY2025 KEY DRIVERS • Rs 4,004 million (22.9%) YoY increase: Operating Lease Rentals (OLR) Rs 21,466 Rs 17,463 - Rs 1,670 million (9.6%) due to same store new leasing and contractual escalations partly offset by expiries - Rs 2,333 million (13.4%) due to acquisition
Slide 21: Q4 FY2026 | Financial Highlights
Q4 FY2026 | Financial Highlights Growth vs Q4 Rs Million Q4 FY2026 KEY DRIVERS FY2025 • Rs 2,547 million YoY increase: Operating Lease - Rs 385 million (8.4%) due to recent new leasing, renewals Rs 7,123 55.6% Rentals (OLR) and escalations achieved offset by expiries - Rs 2,162 million (47.2%) due t
Slide 22: NDCF | Walkdown
NDCF | Walkdown Rs Million Q1 FY2026 Q2 FY2026 Q3 FY2026 Q4 FY2026 FY2026 Operating Lease Rentals (OLR) Rs 4,583 Rs 4,757 Rs 5,003 Rs 7,123 Rs 21,466 CAM / Other Revenue(1) 1,846 1,963 1,964 2,472 8,245 Revenue from Operations Rs 6,428 Rs 6,719 Rs 6,967 Rs 9,596 Rs 29,711 (1) CAM / Other Direct Expe
Slide 23: NDCF | Walkdown
NDCF | Walkdown Rs Million Q1 FY2026 Q2 FY2026 Q3 FY2026 Q4 FY2026 FY2026 NDCF Distributed to REIT Rs 3,379 Rs 3,467 Rs 4,139 Rs 5,109 Rs 16,094 Interest on Shareholder Debt/CCD/NCD 1,300 1,314 1,401 1,845 5,860 Dividends 432 577 786 813 2,608 Repayment of Shareholder Debt/NCD 1,647 1,577 1,951 2,45
Slide 24: Summary Balance Sheet
Summary Balance Sheet Our business is well-capitalized, backed by a strong balance sheet and Sponsor Group Rs Million March 31, 2026 Total Equity Rs 195,621 Equity 175,259 Non-Controlling Interest 20,362 Liabilities Rs 198,535 Borrowings(1) 164,328 Security Deposits 15,100 Other Liabilities 19,107 T
Slide 25: Capital Structure and Liquidity
Capital Structure and Liquidity Our portfolio is well capitalized for near term growth and maintains a AAA credit rating 32.2% Dual AAA Rating 7.3% LTV EXCLUDING SHAREHOLDER [ICRA]AAA(STABLE) AVERAGE INTEREST INSTRUMENTS(1) CRISIL AAA/STABLE RATE (PRO-FORMA LTV 25.2%(2)) GROSS DEBT MATURITY PROFILE
Slide 26: Information Supplement
CANDOR TECHSPACE N2, NOIDA 03 Information Supplement BROOKFIELDINDIAREIT.IN
Slide 27: Brookfield: One of the World’s Largest Real Estate Portfolios
Brookfield: One of the World’s Largest Real Estate Portfolios With ~$277B in real estate AUM and ~24,000 employees across 50+ countries, Brookfield owns, operates and manages one of the world’s largest, highest quality portfolios BROOKFIELD PLACE, NEW YORK CANARY WHARF, LONDON BROOKFIELD PLACE, TORO
Slide 28: Leasing Q4 FY2026
Leasing Q4 FY2026 SELECT NEW LEASES / RENEWALS Tenant Assets Area (SF) Accenture K1, G2 384,000 Rs 101 PSF AVERAGE RENT ON GROSS LEASING (1) Downtown Powai A Financial Services Group 157,000 (SEZ) Genpact G1 125,000 Birlasoft N2 118,000 15% KEC International G2 74,000 RE-LEASING SPREAD (1) New Leasi
Slide 29: Detailed Lease Expiry Schedule
Detailed Lease Expiry Schedule Area Expiring (‘000 SF) % of Gross Rentals In-place Rent at Expiry (Rs PSF)(1) Asset/Year 27E 28E 29E 30E 27E 28E 29E 30E 27E 28E 29E 30E Ecoworld 760 309 660 188 13% 5% 10% 3% Rs 106 Rs 110 Rs 99 Rs 115 Downtown Powai 327 613 415 767 14% 30% 19% 32% 177 177 194 192 IT
Slide 30: Portfolio Occupancy: Q3 FY2026 to Q4 FY2026
Portfolio Occupancy: Q3 FY2026 to Q4 FY2026 December 31, 2025 March 31, 2026 Operating Leased Committed Operating Leased Committed Asset (KSF) Leasing Expiries Renewed Area Area Occupancy Area Area Occupancy Ecoworld(1) 7,052 6,615 94% 53 (58) 43 7,057 6,652 94% Downtown Powai 4,461 4,232 95% 197 (3
Slide 31: Portfolio Occupancy: Q4 FY2025 to Q4 FY2026
Portfolio Occupancy: Q4 FY2025 to Q4 FY2026 March 31, 2025 March 31, 2026 Operating Leased Committed Operating Leased Committed Asset (KSF) Leasing Expiries Renewed Area Area Occupancy Area Area Occupancy Ecoworld(1) 7,046 6,625 94% 88 (444) 383 7,057 6,652 94% Downtown Powai 4,382 4,174 95% 624 (70
Slide 32: Q4 FY2026: New leasing and Renewals
Q4 FY2026: New leasing and Renewals Asset New Leasing Renewals Gross Leasing (1) (1) Areas (KSF) Area Rent PSF PM Area Rent PSF PM Area Rent PSF PM (1) Ecoworld 53 Rs 106 43 Rs 114 96 Rs 110 Downtown Powai 197 174 147 192 345 182 IT / Commercial 40 193 147 192 188 192 SEZ 157 170 0 - 157 170 G2 252
Slide 33: FY2026: New leasing and Renewals
FY2026: New leasing and Renewals Asset New Leasing Renewals Gross Leasing (1) (1) Areas (KSF) Area Rent PSF PM Area Rent PSF PM Area Rent PSF PM (1) Ecoworld (2) 88 Rs 110 383 Rs 113 471 Rs 113 Downtown Powai 624 164 167 194 792 170 IT / Commercial 467 162 167 194 635 170 SEZ 157 170 0 - 157 170 G2
Slide 34: Property Income | Consolidation Details (Q4 FY2026)
Property Income | Consolidation Details (Q4 FY2026) OPERATING LEASE REVENUE FROM NET OPERATING Rs Million; RENTALS (OLR) OPERATIONS INCOME(1) Q4 FY2026 Q4 FY2025 Q4 FY2026 Q4 FY2025 Q4 FY2026 % OLR Q4 FY2025 % OLR Ecoworld Rs 2,162 - Rs 2,702 - Rs 2,071 96% - - Downtown Powai 2,121 1,988 2,438 2,187
Slide 35: Property Income | Consolidation Details (FY2026)
Property Income | Consolidation Details (FY2026) OPERATING LEASE REVENUE FROM NET OPERATING Rs Million RENTALS (OLR) OPERATIONS INCOME(1) FY2026 FY2025 FY2026 FY2025 FY2026 % OLR FY2025 % OLR Ecoworld Rs 2,333 - Rs 2,917 - Rs 2,239 96% - - Downtown Powai 8,039 7,578 9,093 8,415 7,730 96% 7,279 96% I
Slide 36: GAV to NAV Walk
GAV to NAV Walk Particulars (Rs Million) 31-Mar-26 No. of Units Per unit Investment properties at fair value A Rs 489,715 Add: EAI - North Commercial Portfolio B 16,740 Add: Other assets at book value C 17,614 Less: Liabilities at book value D 197,037 Net Assets (A+B+C-D) E 327,032 Less: Non-control
Slide 37: Capital Structure and Liquidity
Capital Structure and Liquidity Our portfolio is well capitalized for near term growth and maintains a AAA credit rating GROSS DEBT SUMMARY REIT Shareholder Borrowings (2) Cost of Debt (Rs Billion) (1) Debt / NCD (3) REIT 27.1 7.2% - Ecoworld 53.2 7.4% 2.6 Downtown Powai (SEZ) - - 12.5 Downtown Powa
Slide 38: Holding Structure | March 2026
Holding Structure | March 2026 TRUSTEE MANAGER (1) Axis Trustee Services Brookprop Management Limited Services Private Limited 100% 50% OPERATIONAL SERVICE PROVIDERS Holding Airtel Center Mountainstar India 100% 50% Company Office Parks Private Limited Rostrum Realty Candor India Office Private Limi
Slide 39: Research Coverage
Research Coverage RESEARCH HOUSE ANALYST EMAIL ID Ambit Karan Khanna Karan.Khanna@ambit.co Avendus Girish Choudhary Girish.C@avendusspark.com Axis Capital Pritesh Sheth Pritesh.Sheth@axiscap.in 360One Capital Deep Shah Deep.Shah@bksec.com BOB Capital Markets Yashas Gilganchi Yashas.Gilganchi@bobcaps
Slide 40: Glossary
Glossary AEIPL Arliga Ecoworld Infrastructure Private Limited Bharti Group Bharti Enterprises Limited and its affiliates BIRET / Brookfield India REIT Brookfield India Real Estate Trust Brookfield Group / Sponsor Group Brookfield Corporation and its affiliates CAM Common Area Maintenance CGORPPL Can
Slide 41: Glossary (Cont’d)
Glossary (Cont’d) Kairos Kairos Properties Private Limited Kensington Kensington, Powai Mark-to-market (MTM) Headroom / Refers to the potential change in base rent between new leases signed at market rates and Spread leases expiring at in-place rents, reflected as a % change LTM Last Twelve Months M
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