Brookfield India REIT FY26: NOI ₹2,291 cr, DPU ₹21.40

Key takeaway from the FY26 filing

Brookfield India Real Estate Trust (Brookfield India REIT) reported a sharp rise in net operating income (NOI) and higher full-year distributions for FY26, supported by record leasing and better occupancy. The audited standalone and consolidated financial statements for the year ended March 31, 2026 were approved by the board of its manager, Brookprop Management Services Private Limited, on May 11, 2026. For the March quarter (Q4 FY26), the board also declared a distribution of ₹5.50 per unit.

Q4 FY26 NOI rises 53% YoY to ₹742.9 crore

For Q4 FY26, Brookfield India REIT’s NOI grew 53% year-on-year to ₹742.9 crore. Operating lease rentals for the quarter increased 55.7% year-on-year to ₹712.3 crore. The March-quarter performance matters for investors because it directly influences distributable cash and distribution per unit (DPU), a key metric for REITs.

The company also reported Q4 FY26 net consolidated total income of ₹987.01 crore versus ₹639.77 crore in the same quarter last year. The text described this as a 22.60% rise.

FY26 NOI grows 23.8% YoY to ₹2,291.3 crore

For the full year FY26, Brookfield India REIT reported NOI of ₹2,291.3 crore, up 23.8% year-on-year. A PTI report cited the prior-year NOI at ₹1,854 crore for FY25. Management linked the year’s operating performance to leasing momentum and improved occupancy.

The REIT declared cumulative distributions of ₹21.40 per unit for FY26, which it said was 11% higher year-on-year. The annual distribution amount, as stated, aggregated to ₹1,516.17 crore.

Distribution declared: ₹5.50 per unit for Q4 FY26

For the quarter ended March 31, 2026, the board declared distribution of ₹456.43 crore, or ₹5.50 per unit. The audited disclosures also break this distribution into components:

• ₹1.60 per unit as interest on shareholder loans, CCDs and NCDs
• ₹2.96 per unit as repayment of SPV debt and NCD
• ₹0.88 per unit as dividend
• ₹0.06 per unit as interest on fixed deposits

For the nine months ended December 31, 2025, distributions were reported at ₹1,059.74 crore (₹15.90 per unit). Together, the cumulative distribution for FY26 was stated at ₹1,516.18 crore, or ₹21.40 per unit.

Consolidated FY26 income and profitability snapshot

Brookfield India REIT’s net consolidated total income for FY26 stood at ₹3,071.33 crore, rising 22.80% from ₹2,471.81 crore in FY25. In its audited FY26 consolidated results, revenue from operations was reported at ₹2,971.14 crore.

The FY26 consolidated revenue from operations was driven by operating lease rentals of ₹2,146.63 crore and maintenance services income of ₹811.37 crore. Consolidated profit after tax (PAT) was reported at ₹536.75 crore for FY26, while standalone PAT was reported at ₹814.88 crore.

Separately, the text also reported Q4 FY26 PAT of ₹53.86 crore compared with ₹78.62 crore in the corresponding quarter of the previous fiscal, while describing it as a 25.19% increase.

Leasing, occupancy, and what changed operationally

Management said FY2026 was supported by record gross leasing of 4 million square feet, with occupancy rising 5% year-on-year. Committed occupancy improved to 93% as at March 31, 2026, also described as a five percentage point year-on-year increase. These operating metrics are closely watched because incremental occupancy and re-leasing spreads typically flow into rent collections, NOI and distributions.

The company also disclosed its footprint across key office markets, stating it manages 11 Grade A assets located in Delhi, Mumbai, Bengaluru, Gurugram, Noida, and Kolkata. Its portfolio includes 37 million sq ft of total leasable area, comprising 32.5 million sq ft of operating area, 0.6 million sq ft under construction, and 4 million sq ft of future development potential.

Acquisition: Arliga Ecoworld Business Parks

As part of its FY26 updates, Brookfield India REIT said it completed the acquisition of Arliga Ecoworld Business Parks for ₹7,006.30 crore. Acquisitions can change a REIT’s income base and balance sheet, and are often assessed alongside occupancy, rent revisions, and funding structure.

The audited statement also reported consolidated NAV per unit at fair value at ₹386.66.

Summary table of reported FY26 and Q4 FY26 metrics

Market impact and why the FY26 numbers matter

For listed REITs, NOI and DPU are central to how the market evaluates stability of cash flows. Brookfield India REIT’s FY26 disclosure ties NOI growth to leasing and occupancy improvements, while the distribution numbers provide a clear reference point for income-focused investors.

The combination of 93% committed occupancy, 4 million sq ft of gross leasing in FY26, and higher income lines reported in the audited financials indicates a year where operating performance and distributions moved in the same direction. The acquisition of Arliga Ecoworld also adds an additional layer for investors to monitor, including integration, tenancy performance, and how it contributes to consolidated income.

Management commentary and what to watch next

CEO and Managing Director Alok Aggarwal said the year was supported by record leasing and higher occupancy, and that income growth enabled the REIT to distribute ₹21.40 per unit for FY26, up 11% year-on-year. He also said steady leasing momentum was expected to drive embedded income growth and highlighted a high-quality asset pipeline held by the sponsor group.

Conclusion

Brookfield India REIT’s FY26 results show higher NOI, higher cumulative distributions, and improved committed occupancy, alongside a large completed acquisition. Investors will track subsequent quarterly updates for how leasing momentum, occupancy levels, and the newly acquired Arliga Ecoworld Business Parks reflect in NOI and distributions.