Overview

The Brookfield India Real Estate Trust is India’s only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management, one of the world’s largest alternative asset managers with approximately US$575 billion in assets under management, as of September 30, 2020, our goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry.

Over the last two decades, India has emerged as a leading hub for technology and corporate services due to a highly skilled and young workforce with a distinct competitive cost advantage. With approximately 90 million people expected to be added to the workforce by 2030, this structural driver will further increase office absorption, creating compelling opportunities across India’s commercial real estate market.

Our strategy is to address this demand by owning and operating large “fully-integrated”, “campus style” office parks in established locations, and providing a complete ecosystem to our tenants and their employees.

The primary objective of our strategy is to provide attractive risk-adjusted total returns to our unitholders derived from:

  • Stable yield supported by our Initial Portfolio’s long-term contracted cash flows.
  • Property level income growth that is embedded in our initial portfolio through contractual rent escalations, mark-to-market headroom and in-situ development potential.
  • Acquisitions including those of identified external growth opportunities through the Identified Assets and the ROFO properties.
  • Asset value appreciation, through continuous investment and upgrading of the properties.

The strong performance of our high quality initial portfolio, will be driven by proactive portfolio management, a prudent capital structure and a corporate governance framework aligned with best market practices. In addition access to Brookfield Asset Management’s global platform provides a breadth of resources, relationships and expertise that compliments an on-ground management team with extensive experience, domain knowledge and a strong track record of value creation.

Brookfield India Real Estate Trust Structure

Manager – Brookprop Management Services Private Limited

Our Manager – an affiliate of Brookfield Asset Management, has a management team with extensive industry experience that helps us manage our office parks in India. It meets the eligibility criteria specified under REIT regulations (net worth not less than ₹100 million), with a net worth of ₹141.02 million, as of December 31, 2020.

As a real estate service company, it provides management services, including facility management and project delivery to the real estate assets held by the Brookfield Group across India. Our Manager’s team has deep domain knowledge and experience in managing these properties and has demonstrated a robust track record in delivering value. Since April 1, 2015, our Manager has leased 4.3 M sf and delivered 3.6 M sf of completed area within the Initial Portfolio.

Brookprop Management Services Private Limited is highly regarded in the real estate community and has extensive relationships with a broad range of tenants, brokers and lenders. Led by Alok Aggarwal (the Managing Director and CEO India office business of our Manager), our Manager’s team consists of 44 dedicated professionals, as of September 30, 2020.

The team has in-depth experience in real estate investments, asset management, research and property management, with the key managerial personnel and core team having an average of more than 25 years of experience in the real estate industry in India. As such, our Manager has operating and investing experience through multiple real estate cycles, provides valuable insight and perspective into the portfolio management of our current office parks as well as the underwriting of new investments.

Our governance structure reflects a rigorous approach to corporate governance, taking into account the interests of our unitholders while leveraging our relationship with Brookfield Asset Management, which has a strong track record of high standards of governance. Brookfield Asset Management is listed on the NYSE and TSX and we benefit significantly from their strong corporate governance standards.

The governance structure is based on the following pillars that enable it to align and commensurately represent the interests of all our stakeholders:

  • Significant level of Sponsor Group ownership in the Brookfield India Real Estate Trust (on a post-offer basis) creates an alignment with the interests of unitholders
  • Entirely performance-linked fee structure for our manager
  • Balanced board composition of our Manager between independent and Brookfield directors
  • Robust related party transaction policies to facilitate arms-length evaluation of acquisition and divestment decisions, in line with global best practices and “majority of minority” approvals required
  • Commitment to environmental, social and governance practices including installation of robust health infrastructure and activities that have a positive impact on the communities in which we operate
  • Anti-bribery and anti-corruption policies in line with international standards
  • Anuj Ranjan

    Non-Executive Director

  • Ankur Gupta

    Non-Executive Director

  • Shailesh Haribhakti

    Independent Director

  • Akila Krishnakumar

    Independent Director

  • Alok Aggarwal

    Chief Executive Officer

  • Sanjeev Kumar Sharma

    Chief Financial Officer

  • Shantanu Chakraborty

    Regional Head – North
    (Gurugram & Noida)

  • Vithal Suryavanshi

    Regional Head – West
    (Mumbai & Pune)

  • Subrata Ghosh

    Vice President – Projects

  • Sanjay Yadav

    Senior Vice President – Legal

  • Baljit Singh

    Vice President – Operations

Name of the committee Present members
Audit Committee
  • Shailesh Vishnubhai Haribhakti (Chairperson)
  • Akila Krishnakumar
  • Ankur Gupta
Stakeholders’ Relationship Committee
  • Ankur Gupta (Chairperson)
  • Anuj Ranjan
  • Akila Krishnakumar
Nomination and
Remuneration
Committee
  • Akila Krishnakumar(Chairperson)
  • Shailesh Vishnubhai
    Haribhakti
  • Ankur Gupta
REIT Offer Committee
  • Anuj Ranjan (Chairperson)
  • Ankur Gupta

IPO Information

Trustee - Axis Trustee Services Limited

Axis Trustee Services Limited is the Trustee of the Brookfield India Real Estate Trust. The Trustee is a registered intermediary with SEBI under the SEBI (Debenture Trustees) Regulations, 1993, as amended, as a debenture trustee having registration number IND000000494 which is valid until suspended or cancelled by SEBI. The Trustee is a wholly owned subsidiary of Axis Bank Limited.

The Trustee is involved in varied facets of debenture and bond trusteeships, including, advisory functions and management functions. The Trustee also acts as a security trustee and is involved in providing services with respect to security creation, compliance and holding security on behalf of lenders. As the Trustee, it ensures compliance with all statutory requirements and believes in ethical standards and best practices in corporate governance. It aims to provide best services in the industry with its well trained and professionally qualified staff with a sound legal acumen.

The Trustee is also involved in providing services as

Advantage of Brookfield India Real Estate Trust

Tenant Diversification

The Initial Portfolio houses a diverse base of marquee tenants with 75% of Gross Contracted Rental..

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Historical Development and Leasing Activity

Over the years, the completed area of the Initial Portfolio has increased by 3.6 M sf through on campus developments.

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Rent and occupancy Analysis

Leasing Rents at the Initial Portfolio have grown at a faster rate than comparable non-strata properties in its micro-markets.

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Awards & Certifications