Bagmane REIT declares Rs 527 crore payout to unitholders
In short
Bagmane Prime Office REIT said it will pay Rs 527 crore to unitholders for the September quarter. It also leased 1.2 million square feet and said its committed occupancy was 99%.
Most of the leasing was to Global Capability Centres in Bengaluru. The report says rent was a little above market, but it does not give the exact number.
What the reporting says
Bagmane Prime Office REIT declared a Rs 527 crore distribution to unitholders for the September quarter, according to the company’s update from India. The REIT also leased 1.2 million square feet in the period and reported a 99% committed occupancy rate, with most leasing going to Global Capability Centres in Bengaluru. The source says average rent was slightly above market, but does not give the exact rent level.
Why it matters
Bagmane Prime Office REIT announced a Rs 527 crore distribution to unitholders for the September quarter in India. It also reported 1.2 million square feet of leasing and a 99% committed occupancy rate, with much of the demand coming from Global Capability Centres in Bengaluru. The update points to strong office demand and higher-than-market rents, but the report does not provide exact rent figures.