REITs Distribute Rs 2,754 Crore to Unitholders in H1 FY24

New Delhi, Nov 18 (PTI) Distribution of income to unitholders in four listed Real Estate Investment Trusts (REITs) rose 14 per cent annually to Rs 2,754 crore in the first six months of this fiscal, according to industry body IRA.

These four publicly listed real estate investment trusts (REITs) in India are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

"Four listed real estate investment trusts (REITs) have distributed a total of Rs 2,754 crore to their unitholders during the first half of the current financial year, Indian REITs Association (IRA) said in a statement on Monday.

This represents an almost 14 per cent increase from the Rs 2,417 crore distributed in H1 of the previous fiscal year.

The REITs distributes income to unitholders in the form of dividends among others.

During the second quarter of this fiscal, these four REITs distributed over Rs 1,383 crore to more than 2,55,000 unitholders. In the first quarter of this fiscal, these four REITs together distributed more than Rs 1,371 crore to around 2,45,000 unitholders.

The Indian REIT market now manages assets worth over Rs 1,52,000 crore.

Since their inception around five years ago, these REITs have collectively distributed more than Rs 19,000 crore to unitholders.

The portfolios managed by these REITs cover over 125 million square feet of premium office and retail space across India.

Indian REITs Association, a non-profit organisation established under the guidance of the Securities and Exchange Board of India (SEBI) 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.