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Brookfield India Real Estate Trust

BIRET NSE
₹319.78 +5.28 (+1.68%)
P/E
44.11
View as Markdown
MCP
Close 4 Nov 2026 ₹319.78 −24.06 −7.00% 1Y
Start ₹343.84

Key Fundamentals

SmallcapRealtyConsumer Discretionary

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.36%
Debt to Equity
0.85
EPS (TTM)
₹7.25
Book Value
₹292.92
Market Cap
—
P/E (TTM)
44.11
P/B
1.09
ROE
2.75%
Dividend Yield
3.59%
EBITDA
₹2,243 Cr
52W High
₹375.69
52W Low
₹300.00
Day Range
₹314.50 – ₹320.95
Volume
3,02,001

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

58 Good

Data confidence 100/100

Category scores

Quality
62
Good
Returns, margins, earnings quality 22% weight
Valuation
83
Strong
Cheap vs sector & own history 24% weight
Growth
92
Strong
Sales & profit trajectory 9% weight
Financial Health
15
Poor
Solvency, leverage, coverage 9% weight
Momentum
30
Poor
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 80.1% CAGR over last 5 years

Weaknesses

3
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 1.72% over last 3 years.
  • Promoters have pledged 90.0% of their holding.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish946
OscillatorsBearish342
Moving AveragesStrong Bearish604

Key readings

RSI (14)
49.25
Neutral
MACD (12,26,9)
−4.93
Bullish
SMA (50)
330.09
Bearish
SMA (200)
334.51
Bearish

As of

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+86.69%
3Y+35.40%
1Y+24.31%
TTM+34.56%

Net profit

Net profit growth by window
5Y+84.67%
3Y+60.04%
1Y+235.63%
TTM+143.19%

Operating cash flow

Operating cash flow growth by window
5Y+74.80%
3Y+33.84%
1Y+24.12%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+7.39 pp
3Y+2.58 pp
1Y+0.71 pp
TTM+1.54 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2021₹131 Cr
Mar 2022₹877 Cr
Mar 2023₹1,197 Cr
Mar 2024₹1,787 Cr
Mar 2025₹2,390 Cr
Mar 2026₹2,971 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2021₹25.00 Cr
Mar 2022₹246 Cr
Mar 2023₹131 Cr
Mar 2024−₹15.00 Cr
Mar 2025₹160 Cr
Mar 2026₹537 Cr

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

Brookfield India Real Estate Trust trades at ₹314.7 as of 2026-10-30 with a market cap of ₹26,116 crore, sitting near its 52-week low of ₹300 against a 52-week high of ₹375.69. The trust has delivered strong profit growth of 80% CAGR over five years and 105% TTM, but carries concerns around low return on equity of 2.74%, high promoter pledge of 90%, and low interest coverage.

Bull Case 6
  • Exceptional profit growth with 5-year compounded profit CAGR of 80% and TTM profit growth accelerating to 105%, indicating strong earnings momentum
  • Robust revenue expansion with 5-year compounded sales CAGR of 87% and sustained TTM sales growth of 35%
  • Dividend yield of 1.81% provides a recurring income stream, relevant for a REIT structure focused on distributing rental income
  • 3-year compounded profit growth of 54% demonstrates that earnings acceleration is not a one-off event but a sustained multi-year trend
  • Stock trades at ₹314.7, only about 4% above its 52-week low of ₹300, which may reflect a compressed valuation after a 1-year stock return of -4%
  • 3-year stock CAGR of 12% shows the trust has delivered positive medium-term returns for investors despite recent weakness
Bear Case 8
  • Promoters have pledged 90% of their holding, creating significant risk of forced selling or loss of control in adverse market conditions
  • Return on equity is persistently low at 2.74% currently and averaging just 2% over 3 and 5 years, indicating poor capital efficiency relative to the equity base
  • Low interest coverage ratio signals that debt-servicing obligations consume a large portion of operating earnings, raising financial stress risk
  • Debt-to-equity ratio of 0.85, combined with low interest coverage, suggests the balance sheet carries meaningful leverage for a trust generating low ROE
  • PE TTM of 43.41 is elevated, especially when paired with an ROE of only 2.74% and ROCE of 4.6%, implying investors are paying a high multiple for modest returns on capital
  • ROCE of 4.6% is below typical cost-of-capital benchmarks in India, suggesting the trust may not be generating adequate returns on total capital employed
  • Stock has delivered a negative 1-year return of -4% and a modest 5-year CAGR of just 4%, underperforming broader Indian equity indices over both periods
  • Despite 105% TTM profit growth, EPS TTM stands at only ₹7.25, translating to a thin earnings base relative to the ₹314.7 share price

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Brookfield India REIT delivered a strong Q2FY27 with 72% PAT growth, 48% revenue growth, and a 9% increase in distributions per unit, supported by rising NAV. Key risks include the high 90% pledge on the sponsor's 19.37% stake and continued reliance on commercial paper issuances for refinancing. The operational trend is clearly improving, but sponsor-level leverage warrants monitoring in a rising rate environment.

Headwinds 2
  • 90% sponsor stake pledged Oct 21

    Sponsor group holds 19.37% of units with 90% pledged, signaling potential leverage risk at the sponsor level.

  • Debt-funded growth via CPs Nov 02

    Issued ₹2,529.64 million in commercial papers at 7.20% per annum, with ₹1,625 million used for debt prepayment, indicating ongoing refinancing activity.

Positives 3
  • Q2FY27 PAT surges 72% YoY Nov 02

    Consolidated PAT rose 72% YoY to ₹2,400.83 million in Q2FY27, while revenue from operations jumped 48% YoY to ₹9,963.65 million.

  • DPU up 9% to ₹5.70 Nov 02

    Board declared a distribution of ₹5.70 per unit, up 9% YoY, reflecting improved cash flows to unitholders.

  • NAV per unit rises 12% Nov 02

    NAV per unit at fair value grew to ₹392.38 from ₹349.08 YoY, a roughly 12% increase in underlying asset value.

Neutral 3
  • Parthos Properties amalgamation approved Nov 02

    Board approved amalgamation of Parthos Properties with Parthos One, a corporate restructuring within the REIT's portfolio.

  • Earnings call rescheduled Nov 01

    Q2FY27 earnings call shifted to 11:30 am IST on November 3, 2026, from the originally scheduled 12:00 pm slot.

  • Public holds 80.63% of units Oct 21

    Public unitholding stands at 80.63% for Q2FY27, with sponsor group holding the remaining 19.37%.

Quarterly Results

₹ Cr
BIRET quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
314
400
531
547
574
590
602
620
642
671
697
960
974
Expenses
103
131
154
138
160
171
192
187
192
206
206
263
272
Operating Profit
211
269
377
409
414
419
409
433
450
465
491
696
701
OPM %
67%
67%
71%
75%
72%
71%
68%
70%
70%
69%
70%
73%
72%
Other Income
7
19
30
3
18
13
34
20
12
23
37
27
57
Interest
120
185
273
275
279
287
286
227
205
202
212
355
338
Depreciation
120
84
105
103
102
105
112
111
105
107
113
145
142
PBT
−22
20
30
35
51
40
46
115
153
179
203
223
278
Tax %
22%
90%
44%
95%
23%
44%
49%
31%
13%
17%
1%
76%
20%
Net Profit
−27
2
17
2
39
23
23
79
132
149
201
54
221
EPS (₹)
−0.81
0.04
0.38
0.27
1.08
0.64
0.53
1.22
2.05
2.18
2.41
0.49
2.17

Profit & Loss

₹ Cr
BIRET profit and loss, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
131
877
1,197
1,787
2,390
2,971
3,301
Expenses
48
258
381
531
716
869
947
Operating Profit
83
618
816
1,256
1,674
2,102
2,354
OPM %
63%
71%
68%
70%
70%
71%
71%
Other Income
5
22
32
61
83
100
145
Interest
41
208
432
852
1,078
975
1,108
Depreciation
32
208
275
411
430
469
507
PBT
15
224
140
54
250
758
884
Tax %
−69%
−10%
7%
128%
36%
29%
—
Net Profit
25
246
131
−15
160
537
626
EPS (₹)
0.84
7.35
3.92
0.28
3.04
6.42
7.25
Div. Payout %
0%
274%
0%
0%
622%
0%
—

Balance Sheet

₹ Cr
BIRET balance sheet, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
8,177
8,987
8,656
10,910
16,419
20,812
Reserves
25
−105
−322
−786
−1,081
−1,292
Borrowings
2,111
5,190
5,508
12,113
9,083
16,583
Other Liabilities
681
713
799
3,302
2,166
3,313
Total Liabilities
10,995
14,786
14,641
25,539
26,588
39,416
Fixed Assets
10,107
13,632
13,546
23,998
23,855
36,640
CWIP
0
0
0
0
0
0
Investments
0
0
0
0
1,072
883
Other Assets
887
1,154
1,095
1,540
1,660
1,892
Total Assets
10,995
14,786
14,641
25,539
26,588
39,416

Cash Flow

₹ Cr
BIRET cash flow, annual, ₹ crore
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
140
606
953
1,433
1,841
2,285
Investing
30
−1,385
−109
−2,028
−74
−6,048
Financing
146
667
−838
756
−1,571
3,862
Net Cash Flow
316
−111
5
161
196
100
Free Cash Flow
91
492
948
1,415
1,840
2,284
CFO/OP
100
101
114
112
110
110

Ratios

BIRET financial ratios, annual
Particulars Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
67
9
16
15
10
14
Cash Conversion Cycle
67
9
16
15
10
14
Working Capital Days
−1,239
−193
−153
−319
−153
−176
ROCE %
—
4%
4%
5%
5%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Brookfield India Real Estate Trust insights

55 extracted metrics across FY21–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 39.37%
  • Others 33.35%
  • Promoters 19.37%
  • Public 7.90%

90.00% of promoter holding pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Brookfield India Real Estate Trust

What does Brookfield India Real Estate Trust do?
Brookfield India Real Estate Trust REIT is an India-based commercial real estate vehicle. The investment trust's portfolio consists of campus-format office parks. Its commercial assets are located in Mumbai, Gurgaon, Noida and Kolkata.
Where is Brookfield India Real Estate Trust (BIRET) listed?
Brookfield India Real Estate Trust trades as BIRET on the NSE and under code 543261 on the BSE.
Which sector does Brookfield India Real Estate Trust belong to?
Brookfield India Real Estate Trust is classified under the Consumer Discretionary sector, in the Realty industry.
What is the PE ratio of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust trades at a PE ratio of 44.11 as of 4 Nov 2026, on earnings per share of ₹7.25, against a book value of ₹292.92 per share.
What is the 52-week high and low of Brookfield India Real Estate Trust?
Over the last 52 weeks Brookfield India Real Estate Trust has traded between ₹300 and ₹375.69 as of 4 Nov 2026.
Does Brookfield India Real Estate Trust pay dividends?
Brookfield India Real Estate Trust has a dividend yield of 3.59%.
What is the Return on Equity (ROE) of Brookfield India Real Estate Trust?
Brookfield India Real Estate Trust reported a return on equity of 2.75%. Its debt-to-equity ratio is 0.85.

Company Information

Brookfield India Real Estate Trust REIT is an India-based commercial real estate vehicle. The investment trust's portfolio consists of campus-format office parks. Its commercial assets are located in Mumbai, Gurgaon, Noida and Kolkata.

Website brookfieldindiareit.in
CEO Mr. Alok Aggarwal
Listed 16 Feb 2021
Face Value ₹323

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