Brookfield India REIT's operating income grew by 51% due to active leasing

Aditya Birla Capital reported a significant increase in consolidated net profit of 38% year-on-year, reaching 1,288 crore rupees for the quarter from July to September of the fiscal year 2026-27 (Q2FY27). This growth is attributed to the active development of the lending business, with higher revenues demonstrated by both the non-banking financial institution (NBFC) division and the housing finance division.

For the reporting quarter, the revenue of the financial company's consolidated segment increased by 31% year-on-year, amounting to 16,545 crore rupees. Specifically, the lending business, excluding housing finance, recorded a profit growth of 41% to 1,008 crore rupees, while Aditya Birla Housing Finance showed an increase of 73% to 335 crore rupees.

The Assets Under Management (AUM) of the NBFC grew by 26.5% year-on-year, reaching 1.77 trillion rupees as of the end of September. Meanwhile, net interest income, including commission receipts, increased by 24.7%, totaling 2,488 crore rupees.

Growth was observed across all segments of the loan portfolio. Business loans increased by 30% year-on-year to 1.01 trillion rupees, while consumer and personal loans grew by 37% to 24,955 crore rupees. Corporate and medium-term loans increased by 15% to 50,483 crore rupees.

The total volume of loans disbursed by the NBFC in Q2FY27 rose by 12% year-on-year to 24,708 crore rupees. Disbursement in the secured business loan segment increased by 22% to 9,737 crore rupees, and disbursement of personal and consumer loans grew by 18% to 5,877 crore rupees.

Furthermore, the NBFC improved its metrics for Stage 2 and Stage 3 assets, which stood at 2.31% (an improvement of 72 basis points year-on-year and 12 basis points sequentially). Return on assets was 2.45%.

Aditya Birla Housing Finance also demonstrated strong growth: profit increased by 73% year-on-year to 335 crore rupees. Its AUM grew by 50% to 57,373 crore rupees, and return on assets was 2.12%. Metrics for Stage 2 and Stage 3 assets improved by 45 basis points year-on-year, reaching 0.65%.

Among other areas, life insurance increased profit by 27% to 85 crore rupees. The company's presentation contains discrepancies regarding the individual first-year premium: the detailed table indicates 1,729 crore rupees for Q2FY27 versus 1,173 crore rupees the previous year, whereas the summary report states the first half-year premium at 2,342 crore rupees, which is 25% higher compared to last year. These figures require verification with the company before publication. For the first half of the year, the total gross premium reached 12,656 crore rupees compared to 8,941 crore rupees in the same period last year.

In asset management business, profit after tax was 221 crore rupees in Q2FY27, a decrease of 8% year-on-year. Average assets under management in the country grew by 4% quarter-on-quarter year-on-year, and average equity market assets under management grew by 9%.

Profit from medical insurance fell by 74% year-on-year, amounting to 27 crore rupees compared to 105 crore rupees in the quarter a year ago. For the first half of FY27, the business reported a gross insurance premium of 4,543 crore rupees, which is 48% higher year-on-year. The combined operating ratio for the first half of FY27 was 106.5%, compared to 103.1% the previous year.

The company's consolidated profit after tax for the first half of FY27 reached 2,462 crore rupees, exceeding 1,772 crore rupees for the corresponding period last year.

Embassy Office Parks Real Estate Investment Trust (REIT) announced a 16% year-on-year (Y-o-Y) rise in its operating revenue, reaching ₹1,303 crore for the second quarter of FY27. Concurrently, the company's net operating income (NOI) saw a 15% increase, totaling ₹1,069 crore.

Amit Shetty, the chief executive officer of Embassy REIT, commented that the quarter was exceptional, noting that the leasing volume of 1.5 million square feet (msf) was fueled by sustained demand from Global Capability Centres (GCCs) alongside healthy rental growth.

During this period, the REIT secured leases covering 1.5 msf, with GCCs being responsible for 85% of this demand. Furthermore, new agreements for 0.9 msf were finalized at an average premium of 9% over standard market rents. This included a specific pre-lease of an entire building, amounting to 0.5 msf at Embassy TechVillage in Bengaluru, which was signed with a global engineering company at a 15% premium to current market rates.

The company declared its highest quarterly distribution ever, amounting to ₹670 crore, equivalent to ₹7.07 per unit, marking a 9% increase compared to the previous year. This distribution is scheduled for payment on or before November 6, with October 31 serving as the record date.

In other financial metrics, the gross asset value (GAV) expanded by 16% Y-o-Y to approximately ₹74,000 crore, while the net asset value (NAV) climbed 18% to ₹524.74 per unit.

Shetty further stated that the combination of strong operational performance and double-digit growth in both revenue and NOI allowed the declaration of these record quarterly distributions. As of the end of September, the portfolio occupancy stood at 93% by value.

Occupancy levels in Pune improved by 300 basis points throughout the quarter, attributed to the leasing of 0.2 msf across three different assets. Additionally, the REIT successfully delivered a 0.6 msf office block in Chennai, which is fully contracted to a US-based GCC. Hotel revenue experienced a 22% Y-o-Y growth, accompanied by a 10% rise in average daily rates.

Adani Energy Solutions Ltd (AESL) announced on Thursday that its net profit for the September quarter more than doubled, reaching 1364 crore rupees. This growth is attributed to increased revenues generated by the stable contribution of the transmission and energy solutions platform.

According to the report filed with the exchange, Adani Group achieved a Profit After Tax (PAT) of 557 crore rupees in the second quarter of the fiscal year 2025-26. AESL specified that total revenue for the second quarter of the fiscal year 2027 reached 10,239 crore rupees, an increase of 51 percent, while operating income was 7,167 crore rupees, also up by 51 percent, due to the strong contribution of the transmission and energy solutions platform.

For comparison, in the second quarter of the fiscal year 2026, total revenue was 6,767 crore rupees, and operating income was 4,740 crore rupees.

In the Mumbai circle distribution segment, the volume of units sold in the second quarter of the fiscal year 2027 grew by 11 percent compared to the previous year, reaching 2,930 million units (MUs). Sales at the Mundirascom Utility (MPSEZ Utility) increased by 26 percent year-on-year, reaching 460 MUs, driven by high industrial and commercial demand.

Furthermore, losses in the AEML network amounted to 4.29 percent in the first half of the fiscal year 2027. By the first half of the fiscal year 2027, the company had cumulatively installed 14.8 million smart meters, with a plan to install another 24.6 million smart meters, including ten projects with potential revenues exceeding 29,519 crore rupees.

AESL also signed a Power Purchase Agreement with the Maharashtra State Electricity Distribution Company to ensure round-the-clock power supply of 2500 MW for a period of 25 years.

As part of the Adani portfolio, AESL has a presence in power transmission, distribution, smart metering, and cooling systems. The company is the largest private power transmission company in the country, operating in 16 states and possessing a cumulative transmission network of 29,802 circuit kilometers (ckm) and a transformer capacity of 143,425 MVA.