Four REITs Distribute Rs 1,371 Crore To Unit Holders In First Quarter

Four publicly listed real estate investment trusts in India have distributed Rs 1,371 crore to their unit holders for the first quarter of financial year ending March 2024, according to industry data.

Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust are the four publicly lister REITs in India.

Data from the Indian REITs Association reveals that in the June quarter, these REITs collectively distributed over Rs 1,371 crore to more than 245,000-unit holders. Since their inception over the past five years, these REITs have distributed a total of more than Rs 18,000 crore to their investors.

Indian REITs market now oversees gross Assets Under Management of over Rs 1,40,000 crore.

The portfolio managed by these REITs spans approximately 122 million square feet of Grade A office and retail space across the country.

Indian REITs Association, a non-profit organization established under the guidance of the Securities and Exchange Board of India and the Ministry of Finance, counts Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust among its four founding members.

Nexus Select Trust is backed by rent-yielding retail properties while the other three REITs own largely prime office space.

Recently, the government in Union Budget shortened the holding period for determining long-term capital gains for business trusts, including REITs and Infrastructure Investment Trusts, from 36 months to 12 months, a move aimed at expanding the investor base of these products.

(With Input From PTI.)