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Brookfield India REIT’s net operating income up 16% to Rs 488.5 crore in Q4 FY25

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Private equity giant Brookfield-sponsored Brookfield India Real Estate Trust reported an increase of 16 percent in its net operating income for the quarter ending March 31 to Rs 488.5 crore, while the real estate investment trust’s (REIT) distributions for the reporting quarter also grew by 10.5 percent year-on-year to around Rs 319 crore, representing a per-unit distribution of Rs 5.25.

For Q4, the REIT reported gross leasing of 651,000 square feet, with an average rental escalation of 6.5 percent on 1.4 million square feet of leased area. Its gross asset value increased to around Rs 38,000 crore, an increase of 30 percent year-on-year.

In the full financial year of 2024-25, net operating income grew by 37 percent to Rs 1,854 crore, while the total distributions for the year were around Rs 1,054 crore, or Rs 19.25 per unit, 8.5 percent higher than that of the previous year.

Gross leasing for FY25 was at around 3 million square feet, which included 2.2 million square feet of new leasing, and the rest was in the form of renewals. The REIT, which earlier had significant vacancy in Special Economic Zone (SEZ)-designated offices, said that 50 percent of its leasing during the year was in SEZ buildings, indicating “steady demand recovery”.

“With 2 million square feet of ongoing conversions in our SEZ properties and a robust leasing pipeline, we are well-positioned for sustained growth over the next year,” said Alok Aggarwal, chief executive officer and managing director at Brookfield India Real Estate Trust.

At 1313 IST on May 6, Brookfield India Real Estate Trust’s units traded 0.2 percent lower at Rs 289.57 on the National Stock Exchange.

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MoHuA secretary inaugurates CII-NBCC Training Center in New Delhi

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NEW DELHI: Srinivas Katikithala, Secretary, Housing & Urban Affairs, Ministry of Housing & Urban Affairs  (MoHuA) inaugurated CII-NBCC Training Center at Ghitorni in the presence of Rajiv Arora, Joint Secretary, MoHuA,  K. P. Mahadevaswamy, CMD, NBCC, Dr. Suman Kumar, Director (Commercial), NBCC and other senior officers from NBCC.

In a significant move to bridge India’s skill gap and enhance employability, NBCC and Confederation of Indian Industry (CII) have come together to establish a Multi Skill Training Institute (MSTI) and a Model Career Centre (MCC) at Ghitorni, Delhi. This collaboration will empower India’s youth by providing industry-relevant skills, facilitating employability, and fostering economic growth.

The training programs stand to impact youth across Delhi and surrounding regions, ensuring that they are equipped with skills that align with the industry’s evolving needs. Through career counselling, job fairs and industry linkages, the program will facilitate direct placements, ensuring that the youth are not only trained but also provided with clear pathways to employment. The program will offer industry-aligned bridge courses aimed at reskilling and upskilling youth, preparing them for the modern workforce in sectors like retail, manufacturing, BPO and logistics.

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Vicasa Group launches mega tree plantation drive and announces new Luxury Hotel in Gopalpur

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NEW DELHI: Vicasa Group, a subsidiary of the reputed Sereen Ventures Private Limited, organized a mega tree plantation drive in Gopalpur.

In collaboration with the Rotary Club of Brahmapur, over a hundred trees were planted near the Chilikeswar Mahadev Temple. With the motto “Trees are Life,” Vicasa Group aims to promote environmental conservation and raise awareness for a sustainable future. The initiative targets planting a total of 1,200 saplings.

Vicasa Group is also set to launch a new hotel in South Odisha, currently under construction. Spanning 32,000 square feet, the hotel will dedicate 70% of its area to green spaces. The project is slated for completion by next year’s Durga Puja, aiming to boost tourism in Odisha.

The event saw participation from key figures, including Dr. Anchal Choudhury, Director of Sereen Ventures Private Limited, CA M. Vaishnavi, CMA Sila Sneha, and others. Shailendra Nagalia from Vikasa Group outlined the program’s objectives, joined by associates K. Nagasaran Subuddhi and J. Anish. Soumya Ranjan Choudhury, Chief of Central Bank of Khallikote Branch, and Abinash Mahapatra, Director of Aakruti Media, commended Vicasa’s vision.Hotel Vicasa, a modern three-star luxury resort, is preparing to welcome guests in Gopalpur with a unique blend of comfort and elegance.

Embracing the tagline “A Confluence of Life and Comfort,” the resort will feature 50 state-of-the-art rooms, offering an unforgettable experience. Rooted in Odisha’s cultural ethos, it aims to provide unparalleled amenities amidst nature for domestic and international tourists. Located along the scenic Bay of Bengal coast, Hotel Vicasa promises to deliver a grand experience while showcasing Gopalpur’s natural beauty.

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Godrej Properties acquires ~14-acre land parcel in Kharadi – Wagholi, Pune

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NEW DELHI: Godrej Properties Ltd. (GPL),a real estate developers, announced that it will develop ~14-acre land parcel in Kharadi – Wagholi, Pune.

The development on this land will comprise primarily premium group housing. The project will have a developable potential of ~ 3.7 million square feet with an estimated revenue potential of ~ INR 4,200 crore *.

The land parcel is strategically located near major commercial hubs in Kharadi, Pune, and provides access to schools, hospitals, malls, restaurants, and premium hotels. It is also in close proximity to Chhatrapati Sambhaji Maharaj International Airport.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “Kharadi – Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build a high-quality development that creates long-term value for its residents.”

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