Investor Presentaiton
Marquee Renewal Leading to a De-risked Income Profile
Brookfield
India Real Estate Trust
Significantly de-risked the expiry profile with a 10% decrease in the contracted rentals due
for expiry till FY26 and achieved a renewal spread of -35%
RENEWAL IMPACT ON KEY OPERATING METRICS
tcs
TATA
CONSULTANCY
SERVICES
15 Yrs.
LEASE TERM
5 Yrs.
LOCK-IN(1)
Expansion
Phase 1
Phase 2
Option (2)
•
• In-Place Rent (in Rs PSF)(3): Improvement in in-place rent post
Phase 2 rent reset
Area
175,000
707,000
264,000 SF
•
Effective
Rental
Reset Date
Q4 FY2023 Q4 FY2024
Renewal
Spread
33%
36%
Portfolio Level
64
-4
+4%
67
99
Dec-22
Kensington
+24%
122
Post Renewal
WALE(3): De-risked portfolio with substantially longer WALE
enhancing cash flow visibility
Portfolio Level
~1.2x
Kensington
~5.9x
11.5
7.9
2.0
6.8
(1) Applicable till December 2027 for both Phase 1 and Phase 2 renewals.
(2) Validity of the option is until March 31, 2024.
11
This MTM takes into consideration the impact of Phase 2 renewal which will come into effect in Q4 FY2024. WALE calculations also take into consideration Phase 2 renewal.View entire presentation