Financials Brookfield India Real Estate Trust

Equities

BIRET

INE0FDU25010

Commercial REITs

Market Closed - NSE India S.E. 07:43:47 2024-04-26 am EDT 5-day change 1st Jan Change
254.5 INR +0.17% Intraday chart for Brookfield India Real Estate Trust -0.25% +8.08%

Valuation

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Capitalization 1 67,588 100,087 93,767 111,730 - -
Enterprise Value (EV) 1 85,546 149,192 146,271 233,928 220,377 223,472
P/E ratio 34.9 x 39.3 x 71.4 x 42.3 x 30.5 x 23.5 x
Yield - 7.06% 7.22% 7.01% 7.8% 8.44%
Capitalization / Revenue 7.83 x 11.4 x 7.83 x 5.93 x 4.67 x 4.16 x
EV / Revenue 9.91 x 17 x 12.2 x 12.4 x 9.2 x 8.32 x
EV / EBITDA 65.2 x 24.1 x 17.9 x 16.7 x 12.3 x 11.4 x
EV / FCF 40.8 x 29 x 17.7 x 20.4 x 14.1 x 14.5 x
FCF Yield 2.45% 3.45% 5.66% 4.91% 7.1% 6.88%
Price to Book 0.82 x 1.18 x 1.13 x 0.97 x 1.01 x 1.13 x
Nbr of stocks (in thousands) 302,802 319,623 335,087 439,085 - -
Reference price 2 223.2 313.1 279.8 254.5 254.5 254.5
Announcement Date 5/20/21 5/18/22 5/24/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,567 8,628 8,768 11,970 18,851 23,941 26,856
EBITDA 1 - 1,312 6,183 8,156 14,019 17,882 19,638
EBIT 1 - 837.8 4,098 5,404 10,116 13,476 14,833
Operating Margin - 9.71% 46.74% 45.14% 53.66% 56.29% 55.23%
Earnings before Tax (EBT) 1 - - 2,242 1,404 3,251 4,319 5,545
Net income 1 151.2 379.6 2,463 1,312 3,169 3,624 4,369
Net margin 1.58% 4.4% 28.09% 10.96% 16.81% 15.14% 16.27%
EPS 2 - 6.390 7.970 3.920 6.013 8.330 10.83
Free Cash Flow 1 - 2,094 5,144 8,279 11,475 15,651 15,374
FCF margin - 24.27% 58.66% 69.16% 60.87% 65.37% 57.25%
FCF Conversion (EBITDA) - 159.59% 83.19% 101.51% 81.86% 87.52% 78.29%
FCF Conversion (Net income) - 551.79% 208.85% 630.83% 362.13% 431.81% 351.93%
Dividend per Share 2 - - 22.10 20.20 17.84 19.84 21.48
Announcement Date 9/29/20 5/20/21 5/18/22 5/24/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 2,117 1,951 2,509 2,910 - - 2,999 3,024 - 3,997 5,308 5,886
EBITDA 1 1,499 1,386 1,747 2,010 2,065 4,075 2,012 2,069 - 2,689 3,770 4,085
EBIT 1 - 894.2 1,082 1,319 - - 1,293 1,364 - - 2,720 2,816
Operating Margin - 45.84% 43.12% 45.33% - - 43.12% 45.1% - - 51.25% 47.84%
Earnings before Tax (EBT) 1 633.4 511.6 385.8 457.9 425.4 - 250.1 270.5 - - 297.6 279.5
Net income 1 682.8 596.9 444.8 471.4 267.1 738.6 246.8 326.9 -270 19.58 165.7 172
Net margin 32.25% 30.59% 17.73% 16.2% - - 8.23% 10.81% - 0.49% 3.12% 2.92%
EPS 2 - 1.970 1.360 1.410 - - - 0.9800 -0.8100 - 0.6300 0.5000
Dividend per Share 2 6.000 - - - - - - - - - - 4.900
Announcement Date 11/9/21 2/11/22 5/18/22 8/8/22 11/9/22 11/9/22 2/9/23 5/24/23 8/14/23 11/13/23 2/12/24 -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 17,958 49,105 52,504 122,198 108,647 111,742
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - 13.68 x 7.942 x 6.438 x 8.717 x 6.076 x 5.69 x
Free Cash Flow 1 - 2,094 5,144 8,279 11,475 15,651 15,374
ROE (net income / shareholders' equity) - - 2.88% 1.53% 2.87% 3.35% 4.47%
ROA (Net income/ Total Assets) - 0.64% 1.91% 0.89% 0.53% 1.51% 1.88%
Assets 1 - 59,305 128,905 147,121 601,286 239,872 232,368
Book Value Per Share 2 - 271.0 265.0 249.0 263.0 251.0 226.0
Cash Flow per Share 2 - 35.20 19.60 27.50 34.40 45.30 46.50
Capex 1 - - 916 940 1,753 1,929 3,065
Capex / Sales - - 10.44% 7.85% 9.3% 8.06% 11.41%
Announcement Date 9/29/20 5/20/21 5/18/22 5/24/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
15
Last Close Price
254.5 INR
Average target price
302.4 INR
Spread / Average Target
+18.85%
Consensus
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