BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
The Brookfield India Real Estate Trust delivered a resilient Q1 FY22 performance with over 99% of rental collections and flattish net operating income of Rs 1.7 billion on YoY basis with same store occupancy remaining healthy at 89% (down 2% QoQ on fresh expiries).
We cut our rating on Brookfield India REIT with a revised March 2022 discounted cash flow based target price as we incorporate further expiries in FY22E.
We expect over 30% of the distribution to be in the form of tax-free dividend and capital return with balance returns from interest.
Key risks to our thesis are the large-scale adoption of work-from-home by occupiers over the long term and rising interest rates globally.
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