Dear Unitholders,
At Brookfield India REIT, our mission is clear: to build and operate a future-ready office platform that delivers consistent returns and shapes the next decade of India's commercial real estate story. FY2025-26 was a landmark year where that ambition translated into results with record-breaking delivery across leasing, income growth, asset expansion, and capital strategy.
As India ascends into a new phase of economic transformation, becoming the world's fourth-largest economy with a projected 7.2% GDP growth for FY2026-27, Brookfield India REIT is performing well. Over the past year, we deepened our occupier relationships, expanded into strategic submarkets, strengthened our balance sheet, and delivered returns ahead of guidance, laying the groundwork for our next phase of scalable growth.
India's office market continues to benefit from permanent shifts in global operating models. Gross office absorption rose to 83.1M sf across India in FY2025-26. Global Capability Centers (GCCs) are increasingly centralizing high-value functions in innovation, engineering, and AI-driven leadership here, accounting for 44% of total office absorption in India in Q1 2026.
We capitalized effectively on this demand cycle, validating the strength of our ecosystem-led campus strategy and our ability to meet complex occupier needs across scale, sustainability, and reliability. This operational execution directly translated into one of the strongest financial and leasing performances in the Trust's history:
As noted by the Chairman, the defining strategic transaction of FY2025-26 was the acquisition of Ecoworld, Bengaluru, expanding our total footprint to over 33M sf of Grade-A assets. Bengaluru remains India's premier GCC capital, holding the country's highest concentration of tech talent and hosting over 880 active centers. By adding 7.7M sf of this sustainability-certified, campus-format asset to our platform, we have acquired an institutional product that perfectly aligns with what enterprise occupiers demand. While the strategic rationale is clear, our management focus is now entirely on operational execution – identifying the right tenants at competitive market rents to tap into the asset's significant lease-up runway, which represents our single largest near-term income driver.
FY2025-26 was a year where ambition translated into action, with strong delivery across leasing, income, asset expansion, and capital strategy.
To enable continued expansion and create headroom for future opportunities, the Trust raised over ₹ 82B through a disciplined mix of Qualified Institutional Placements (QIPs) and preferential issues.1 These capital raisings expanded our free float, fortified our balance sheet, and left the Trust well-capitalized to evaluate future pipeline assets from our Sponsor Group. As India's only 100% institutionally managed pan-India office REIT, our platform is held to the stringent transparency and governance standards that global investors expect. This institutional trust is earned through consistent execution, absolute accountability in capital deployment, and ensuring that our commitments to unitholders are strictly honored.
1 ₹ 2,600 Crore QIP raised in April 2026
Our ESG and sustainability roadmap, Blueprint 2030, continues to guide every decision we take across the portfolio. While we continue to work towards our Net Zero ambitions by 2040 or sooner, we made meaningful strides towards that commitment in FY2025-26.
We retained our 5-Star GRESB rating for the fourth consecutive year, and 100% of our portfolio now operates under sustainability certifications including IGBC, EDGE, BEE Energy Star and ISO standards. The ₹ 20B Sustainability-Linked Bond, the largest such issuance by an Indian REIT–was structured with performance milestones tied directly to our ESG targets, reflecting how deeply sustainability is embedded in our capital strategy.
We believe sustainability drives better business outcomes. Our goal is to build a platform that future generations will value and trust.
As India's economic and digital rise accelerates, Brookfield India REIT is well positioned. Our vacant inventory embedded contractual escalations and rental mark-to-market opportunities provide immediate, tangible drivers for near-term valuation and income expansion. We enter FY2026-27 with strong demand visibility and a clear leasing pipeline, firmly committed to delivering consistent, long-term returns powered by performance, backed by discipline, and guided by purpose.
Thank you for your continued trust and support.
Sincerely,
Alok Aggarwal
CEO and Managing Director
Board of Directors of the Manager of
Brookfield India Real Estate Trust
