A real estate investment trust (REIT) reported a 16% increase in net operating income (NOI) to ?488.5 crore for the quarter ended March and announced a distribution of ?319 crore to unitholders. In the year-ago period, the NOI was ?422 crore.
The distribution for the March quarter, ?319.1 crore (?5.25 per unit), is 10.5% higher than the corresponding quarter of the previous fiscal year. For the full 2024-25 fiscal year, NOI grew 37% to ?1,854 crore from ?1,350 crore in the previous year. Total distributions for the year were ?1,053.7 crore (?19.25 per unit), an 8.5% increase over 2023-24.
The REIT achieved gross leasing of approximately 3 million sq ft, including 2.2 million sq ft of new leases and 0.8 million sq ft of renewals. Over 50% of the leasing occurred in SEZ properties, reflecting steady demand recovery.
The REIT manages 10 Grade A assets across major cities including Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio includes 29 million sq ft of total leasable area, comprising 24.5 million sq ft of operating area, 0.6 million sq ft under construction, and 3.9 million sq ft of future development potential.
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