REITs Distribute Rs 1,371 Cr to Unitholders in Q1 FY24
By Rediff Money Desk, New Delhi Aug 20, 2024 14:49
Four listed REITs in India distributed over Rs 1,371 crore to unitholders in the June quarter, marking a significant milestone in the REIT market. Learn more about the distribution and the key REITs involved.
New Delhi, Aug 20 (PTI) Four publicly listed real estate investment trusts have distributed Rs 1,371 crore to their unit holders for the first quarter of this fiscal, according to industry data.
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.
Indian REITs Association (IRA) data showed that in the latest June quarter, these four REITs have together distributed more than Rs 1,371 crore to over 2,45,000 unit holders.
Since their inception over the past five years, these four REITs have collectively distributed more than Rs 18,000 crore to their unit holders.
Indian REITs market now oversees gross Assets Under Management (AUM) 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 (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.
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 (InvITs), from 36 months to 12 months, a move aimed at expanding the investor base of these products.
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.
Indian REITs Association (IRA) data showed that in the latest June quarter, these four REITs have together distributed more than Rs 1,371 crore to over 2,45,000 unit holders.
Since their inception over the past five years, these four REITs have collectively distributed more than Rs 18,000 crore to their unit holders.
Indian REITs market now oversees gross Assets Under Management (AUM) 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 (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.
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 (InvITs), from 36 months to 12 months, a move aimed at expanding the investor base of these products.
Source: PTI
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