Bagmane REIT Declares Maiden Distribution of ₹5,100 Million

Bagmane Prime Office REIT announced its maiden distribution of ₹5,100 million (₹1.50 per unit) for Q1 FY27. The REIT reported a revenue of ₹7.3 billion and Net Operating Income (NOI) of ₹6.6 billion, with a 90% NOI margin. Key highlights include 98.7% committed occupancy across 16.6 msf of completed office space, 260k sft of gross leasing in Q1 FY27, and in-place rents 18% below market rates. The REIT maintains a low LTV of 4% and has significant growth potential with a 47+ msf ROFO pipeline. Construction is ongoing for multiple office projects and two hotels, with a solar asset expected completion by Q2 FY27.