Brookfield India Real Estate Trust · NSE:BIRET.RR
Brookfield India Real Estate Trust — Merger or Acquisition (November 2025)
25 slides from Brookfield India Real Estate Trust's merger presentation, Nov 4, 2025
Slide 1: Ecoworld, Bengaluru Acquisition Presentation
Brookfield India Real Estate Trust E C O W O R L D , B E N G AL U R U AC Q U I S I T I O N P R E S E N TAT I O N NOVEMBER 4, 2025
Slide 2: Disclaimer
Disclaimer By reading this presentation (the “Presentation”), you agree to be bound by the following limitations: This presentation does not constitute a prospectus, placement document, offering circular or offering memorandum under the REIT regulations or any other applicable law in India or in any
Slide 3: Acquisition of a Large Office Campus in Bengaluru
Acquisition of a Large Office Campus in Bengaluru Strategic and unique opportunity to make a large entry into Bengaluru by acquiring a 100% stake in Ecoworld, a 7.7 MSF grade A office campus located on the Outer Ring Road KEY METRICS ACQUISITION Rs 131,250 Mn Rs 120,000 Mn + PRICE Rs 11,250 Mn (in 1
Slide 4: Transaction Summary
Transaction Summary Brookfield India REIT has signed binding agreements to acquire a 100% stake in Ecoworld(1), a 48 acre / 7.7 MSF(2) operating asset located in Bengaluru, for an acquisition price of Rs 131,250 Million • Increasing Scale: operating area to increase by 31% and consolidated GAV to in
Slide 5: Property Highlights
Property Highlights Fully built and highly leased asset, with near-term MTM and value-add opportunities Operating Leased Committed WALE In-place Rent Ecoworld Area Area Occupancy (Yrs.)(2) (Rs PSF)(2) (MSF)(1) (MSF) (%)(2) Commercial 3.8 3.7 97% 6.1 Rs 103 SEZ 2.3 2.2 97% 4.0 96 Non-Processing A
Slide 6: Increasing Scale
Increasing Scale The acquisition will increase consolidated GAV by 35% and operating area by 31% CURRENT PRO-FORMA ECOWORLD PORTFOLIO PORTFOLIO CONSOLIDATED GAV Rs 396 B Rs 140 B Rs 536 B +35% OPERATING AREA 24.6 MSF 7.7 MSF 32.3 MSF +31% COMMITTED OCCUPANCY 90% 94%(1) 91% +100bps SHARE OF GCCs(2) 3
Slide 7: Enhancing Diversification
Enhancing Diversification The acquisition will make Bengaluru the largest market for the REIT(1), while improving the occupier mix with higher share of GCCs and reduction in tenant concentration CURRENT PORTFOLIO PRO-FORMA PORTFOLIO Kolkata Bengaluru 11% 32% Gurugram Delhi 30% (BY GEOGRAPHY) AT-SHAR
Slide 8: Highly Accretive Acquisition
Highly Accretive Acquisition The acquisition is at an attractive entry discount (6.5% below GAV)(1), and is expected to result in 1.6% NAV accretion and 3.0% DPU accretion DISCOUNT TO GAV(1) NAV ACCRETION(2) DPU ACCRETION(3) Rs Billion Rs per unit Rs per unit / quarter 360 6.29 140 355 349 350 131 5
Slide 9: Re-rating Distribution Mix
Re-rating Distribution Mix The transaction is expected to almost double the share of dividends from ~16% to ~30%(2) in the near term, making it attractive to a wider unitholder base CURRENT PORTFOLIO(1) PRO-FORMA PORTFOLIO(2) Dividends Dividends Repayment of Repayment of 16% ~30% Shareholder Loan Sh
Slide 10: Proposed Funding Plan | Sources and Uses
Proposed Funding Plan | Sources and Uses Acquisition to be funded through a combination of a new debt issue and cash of Rs 45,000 Million at the REIT level(1) and new equity issue(2) of Rs 25,000 Million SOURCES OF FUNDS Rs. Million USES OF FUNDS Rs. Million New Debt Issue and Cash at REIT level(1)
Slide 11: Pro-forma Capital Structure
Pro-forma Capital Structure The funding plan will increase our market capitalization by ~11% and keep the borrowings under 35% LTV(3) MARKET CAPITALIZATION OF BIRET(1,2) PRO-FORMA LTV AMOUNT Rs Billion Rs Billion 245 220 Net Debt at Current Portfolio 80.1 67% Net Debt at Ecoworld SPV (post transacti
Slide 12: Property Information
Property Information
Slide 13: Located in India's Best Office Micro market
Located in India’s Best Office Micro market Ecoworld is located on the Outer Ring Road, India’s largest and top performing office micro market << Towards N Airport Bagmane WTC INDIRANAGAR Bagmane Capital NXT Bagmane WHITEFIELD Constellation Centennial Bagmane MARATHAHALLI Solarium Prestige BELLANDUR
Slide 14: Property Layout
Property Layout Integrated campus spread across 48 acres and 15 buildings, providing a mix of commercial, SEZ and NPA spaces, equipped with world-class amenities 4C 4C 2 3C 3B 1 South Entry North Entry Campus 3 5.3-acre low density 5A 5A campus, (proposed CLUSTERto 2 go under refurbishment) 6B 5B 8A
Slide 15: Best-in-Class Tenant Roster
Best-in-Class Tenant Roster One of the best tenancy profiles comprising reputed MNCs and GCCs across a diversified sector mix TOP 10 TENANTS(1) SECTOR CONCENTRATION(2) % Gross Contracted Tenant Industry Rentals Morgan Stanley BFSI 10% Others Technology 9% 22% Technology 32% Global BFSI Major BF
Slide 16: Recent Tenant Expansions
Recent Tenant Expansions The property has seen expansion demand from its occupiers for both SEZ and commercial spaces, driven by strong growth in their underlying businesses SELECT TENANT EXPANSIONS (KSF) 343 276 190 248 SEZ 135 178 Sep-23 Sep-25 Sep-23 Sep-25 Sep-23 Sep-25 MORGAN STANLEY(1) GLOBAL
Slide 17: Strong MTM Story
Strong MTM Story Significant MTM potential on ~2.3 MSF (~34%) expiring in next 5 years, with a demonstrated track record MTM TRACK RECORD(1) SPREAD-OUT ROLLOVER PROFILE(2) 110 Area Expiring - SEZ 110 112 Area Expiring - Commercial Cumulative Expiry (% of Gross Rent) 69 36 30% 34% 38% 14% 21% 50% 4%
Slide 18: Value Add Opportunity | Campus 3
Value Add Opportunity | Campus 3 Campus 3, a 5.3 acre / 0.7 MSF built SEZ campus, is going into refurbishment in Q2FY27, following relocation of the existing tenant to another tower within the park. The site may also be suitable for a profitable redevelopment at attractive yields, if adequate additi
Slide 19: Acquisition Price Summary
Acquisition Price Summary Acquisition is priced at attractive cap rates of 7.7% / 8.9% (on FY27E / FY29E NOI(1)) Rs Million AMOUNT PSF Acquisition Price Rs 131,250 Rs 16,793 GAV Rs 140,441 Rs 17,969 Discount to GAV(1) 6.5% FY27E NOI Rs 9,212 from 7.1 MSF(2) FY29E NOI Rs 11,617 from 7.8 MSF(2) FY27
Slide 20: DPU Accretion
DPU Accretion Quarterly Rs Millions, except per unit data Remarks Run Rate Operating Lease Rentals (OLR) Rs 2,041 • 7.1 MSF x Rs 102 PSF x 94% x 3 months Operating Service Provider NOI 68 • 6% of OLR net of employee expenses (Rs 55 million) Net Operating Income (NOI) Rs 2,109 Property Manager Fe
Slide 21: Industry Leading Amenities
Industry Leading Amenities Ecoworld offers best-in-class amenities ranging from a wide variety of food outlets, well-equipped fitness facilities and dynamic social zones Infinity Pool Restaurants and Food courts (The Bay) Well-equipped play and fitness facilities Amphitheatre (500+ capacity) 21
Slide 22: Commitment to ESG
Commitment to ESG ESG program across Ecoworld has undergone a significant transformation under Brookfield Group’s ownership and management 100% NET ZERO 100% Ecoworld Bengaluru is India’s Transition to Renewable Onsite reuse of treated water Energy by 2027(1) First Net Zero Waste Campus AWARDS & REC
Slide 23: Corporate Governance Framework
Corporate Governance Framework The acquisition and associated fund raising will be completed in accordance with highest levels of corporate governance Independent • Brookfield India REIT board appointed JM Financial Ltd, an independent third-party advisor, to advise Assessment on the acquisition pri
Slide 24: Holding Structure (Post Acquisition)
Holding Structure (Post Acquisition) TRUSTEE MANAGER (2) Axis Trustee Brookprop Management Services Limited Services Private Limited 50% 100% OPERATIONAL SERVICE Airtel Center PROVIDER Holding Company 50% Mountainstar Rostrum Realty India Office Parks Private Limited(1) Private Limited 100% Proposed
Slide 25: Basis of Presentation of Pro-forma and Certain Other Information
Basis of Presentation of Pro-forma and Certain Other Information Pro-forma Metrics In this Transaction Document, Brookfield India REIT presents certain unaudited, pro-forma operational and financial metrics (the “Pro-forma Metrics”) as of and for the 6 months ended September 30, 2025 (unless specifi
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