Brookfield India Real Estate Trust has filed its quarterly statement of deviation(s) or variation(s) in the utilisation of proceeds raised through institutional placements and a preferential issue of units, for the quarter ended March 31, 2026. The filing was made pursuant to paragraph 4.17 of SEBI's REIT Master Circular (Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025) and covers four separate fund-raising instruments. Across all four annexures, the trust has confirmed that there are no deviations or variations in the use of proceeds relative to the stated objects in their respective placement documents.

Overview of Fund-Raising Instruments

The quarterly disclosure encompasses four distinct fund-raising events. The following table summarises the key details of each:

QIP-2023: Utilisation Details

The QIP-2023 raised ₹ 23,053,590,622.50 through an institutional placement allotted on August 2, 2023. The proceeds were primarily directed towards funding the acquisition of Kairos Properties Private Limited (earlier known as Kairos Property Managers Private Limited) and Candor Gurgaon One Realty Projects Private Limited. The following table details the allocation and utilisation as of March 31, 2026:

As disclosed in the placement document dated August 1, 2023, the manager retains flexibility to utilise balance net proceeds and any unutilised issue proceeds for purposes connected with the Kairos and Candor G1 acquisition, general operations, and other permitted uses. An amount of Rs. 2.7 million has been utilised for general purposes under this flexibility.

QIP-2024: Utilisation Details

The QIP-2024 raised ₹ 35,000 million through an institutional placement allotted on December 12, 2024. The primary stated object was the partial or full pre-payment or scheduled repayment of certain debt facilities availed by the REIT and Asset SPVs. The utilisation as of March 31, 2026 is as follows:

Per the placement document dated December 12, 2024, the manager has flexibility to deploy balance and unutilised proceeds for general purposes. An amount of Rs. 204.01 million has been utilised for general purposes under this provision.

QIP-2025: Utilisation Details

The QIP-2025 raised ₹ 35,000 million through an institutional placement allotted on December 10, 2025. The primary stated object was funding the upfront consideration for the Ecoworld Acquisition—specifically, the acquisition of 100% equity share capital of Arliga Ecoworld Business Parks Private Limited. The utilisation as of March 31, 2026 is detailed below:

As per the placement document dated December 9, 2025, the manager retains flexibility to deploy balance and unutilised proceeds for general purposes. An amount of Rs. 48.02 million has been utilised for general purposes under this provision.

Preferential Issue-2025: Utilisation Details

The Preferential Issue-2025 raised ₹ 10,000,000,150/- through an allotment on September 2, 2025. The entire amount raised has been fully utilised as of March 31, 2026, in line with the stated object of acquiring economic interests in companies owning real estate assets and/or providing real estate, property management, and operational services through purchase and/or subscription of equity securities, debt securities, and/or shareholder loans.

The filing was signed by Saurabh Jain, Company Secretary & Compliance Officer of Brookprop Management Services Private Limited, the manager of Brookfield India Real Estate Trust, on May 11, 2026. Copies were also addressed to Axis Trustee Services Limited and IDBI Trusteeship Service Limited, the debenture trustee for the NCDs.

Brookfield India Real Estate Trust has successfully closed its institutional placement of units with a final issue price of ₹323.00 per unit, following the Issue Committee meeting held on April 21, 2026. The placement, which commenced on April 16, 2026, concluded with the committee's approval of the closure and final pricing determination.

Issue Committee Decisions and Pricing

The Issue Committee of Brookprop Management Services Private Limited, the REIT's manager, convened through audio-visual electronic communication on April 21, 2026, to finalize the institutional placement outcomes:

The committee determined the issue price of ₹323.00 per unit, which includes a discount of ₹6.94 per unit, representing a 2.10% reduction from the floor price of ₹329.94 per unit. This pricing was established in accordance with SEBI's master circular SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025.

Initial Placement Framework

The institutional placement was initially approved by the Issue Committee on April 16, 2026, with the following framework:

Brookfield India Real Estate Trust had previously obtained unitholder approval for raising funds through institutional placement(s) of units at a meeting held on April 7, 2026.

Allocation and Documentation Process

The Issue Committee approved and finalized the confirmation of allocation note to be sent to successful eligible institutional investors, confirming the allocation of units in relation to the placement. The committee also approved the placement document dated April 21, 2026, completing the regulatory documentation requirements.

The REIT maintained trading window restrictions for all designated persons and their relatives throughout the placement period, in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and related stock exchange circulars. The institutional placement represents a significant fundraising initiative conducted through Brookprop Management Services Private Limited, with full regulatory compliance maintained throughout the five-day placement period.