Brooklyn India REIT Operating Lease Rental Income Up 7.3% in Q2 2021
August 11, 2021 – Brooklyn India REIT announced that its income from operating lease rentals grew to Rs 1.6 billion (US$21 million) driven by contractual escalations in the period April to June this year. This translates to a 7.3% increase year on year.
The REIT’s planned distribution for of Rs 1.8 billion (US$24 million) this quarter, with 24% of distributions tax freefor unit holders.
“We are seeing strong ‘return to office’ preparations across our occupiers as vaccinations pick up. We look forward to supporting our tenants’ plans with the highest health and safety standards. Our campuses, which house many of India’s leading technology and services companies, have remined resilient with 89% Same Store Occupancy and collections at, 99%.” said Alok Aggarwal, Chief Executive Officer, Brookprop Management Services Private Limited.
“We are pleased that we have been able to help facilitate vaccinations for over 32,000 people including of our employees, tenants, front-line workers and their families across our properties and will continue to organize these drives in collaboration with local authorities.”
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