Since our listing, we have expanded with intent and discipline, reshaping our portfolio through strategic acquisitions, meaningful partnerships and a clear focus on long-term value creation. This approach has translated into strong performance, with the AUM growing fivefold over the past five years.
We successfully executed our IPO proceedings amid one of the most challenging market environments. Despite subdued leasing demand during the pandemic, the offering attracted strong investor interest, with the main book oversubscribed by 8x. The successful listing reinforced investor confidence in our ability to deliver stable performance and long-term value, establishing a strong foundation for future growth.
Leasing activity strengthened during the year, reflecting sustained demand for high-quality, collaborative workspaces. We completed the acquisition of 100% equity and CCDs of SDPL Noida, which owned Candor TechSpace N2. During the year, we also delivered a 0.2M sf expansion at Candor TechSpace N2, Noida, fully committed to a GCC within seven months.
Across FY2023-24 and FY2024-25, Brookfield India REIT continued to execute its growth strategy with a focus on high-quality asset expansion and consistent operational performance. In FY2023-24, we doubled our portfolio through equal stakes in Downtown Powai, Mumbai and Candor TechSpace G1, Gurugram, alongside strong leasing momentum and successful capital raises. Building on this momentum, FY2024-25 marked the acquisition of a 50% stake in the fully operational North Commercial Portfolio from Bharti Enterprises. This further strengthened our presence across key office markets while adding high-quality, income-generating assets to the platform.
Our expansion trajectory continued with the acquisition of Ecoworld, a fully built Grade-A campus on Bengaluru’s Outer Ring Road. This transaction marked our entry into the city and further strengthened the foundation built over the last two years. Ecoworld’s addition increases our operating area, enhances tenant diversification, and positions Bengaluru as a key contributor to the Portfolio. A strong committed occupancy and resilient GCC-led tenant base underpin the acquisition’s stability and its potential to strengthen long-term value.
