Brookfield India Real Estate Trust REIT543261Routine SEBI update
Security Cover certificate for the September 2026 quarter, with debenture covenant compliance
Security Cover certificate shared for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 2 min read
- Security cover on book value
- 1.20 (standalone)
- Security cover on market value
- 2.60 (consolidated)
- Net Total Debt / NOI
- 4.66 against a 6.5x ceiling
What this update is
- Brookfield India REIT, through its manager Brookprop Management Services Private Limited, has submitted its Security Cover certificate together with the compliance status of its debenture covenants for the quarter and half year ended September 30, 2026.
- The certificate is issued by Deloitte Haskins & Sells, the statutory auditors, in the format prescribed under the SEBI master circular cited in the update, and is prepared for submission to the debenture trustee, IDBI Trusteeship Services Limited, and the stock exchanges.
What the certificate covers
- It covers the REIT's non-convertible debentures: 2,00,000 debentures of face value Rs. 1,00,000 each.
- Security cover compares the value of assets marked as security with the debentures outstanding. A ratio above 1 means the security is larger than the debentures it backs.
- Standalone cover on book value is 1.20.
- Consolidated cover on market value is 2.60.
Covenant checks
- Net Total Debt / NOI: 4.66, within the ceiling of 6.5x. In simple terms, this compares net borrowings with net operating income.
- Loan to Value Ratio: 26.90%, within the ceiling of 49%. This compares net debt with the value of assets.
- The auditor states that it reviewed the arithmetic of these ratios and that nothing came to its attention to suggest the statement was not accurately extracted from the books.
Encumbrances mentioned
- The equity share capital held by the REIT in Seaview Developers Private Limited (referred to as Candor N2) is shown as pledged in favour of the debenture trustee as an exclusive charge.
- Its shares in Candor Kolkata One Hi-Tech Structures Private Limited (K1) are pledged in favour of a lender as security for borrowings raised by K1.
- A part of the K1 holding, and the holding in Aflqs Tecworld Business Park Private Limited, is under a non-disposal undertaking and is not pledged.
How to read it
- This is a periodic disclosure tied to the REIT's non-convertible debentures, not an announcement of a new deal or transaction.
- For a debenture holder it shows the security cover is above 1 and both financial limits are being met as at September 30, 2026.
- The auditor describes the exercise as a limited assurance engagement, which is narrower in scope than a full audit.
Also from Brookfield India Real Estate Trust REIT
September quarter results: profit after tax 1,608.50 million, 80,495,356 new units issued
2 Nov 2026
Half-yearly valuation reports for 13 assets shared; Downtown Powai valued at INR 33,500 Million
2 Nov 2026
Board approves Q2 FY2027 results pack, valuation report and proposed Parthos Properties amalgamation
2 Nov 2026
More numbers
- Non-convertible debentures covered2,00,000
- Face value per debentureRs. 1,00,000
- Cover on Book Value, standalone1.20
- Cover on Market Value, consolidated2.60
- Net Total Debt / NOI (actual)4.66
- Net Total Debt / NOI ceiling6.5x
- Loan to Value Ratio (actual)26.90%
- Loan to Value Ratio ceiling49%
Source: BSE · 2 Nov 2026
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