"Brookfield Expands Mumbai Portfolio with Acquisition of Jet Airways' Office Property" Please note that the title is based on the provided passage and may not be a perfect summary of the article.

Brookfield Asset Management has acquired an additional office floor in Mumbai's Godrej BKC building through the Insolvency and Bankruptcy Code. The sale was conducted under the IBC and overseen by the National Company Law Tribunal. Brookfield has now exercised its right of first refusal to match Bank of Baroda's bid and secure the asset. The acquisition underscores the attractiveness of prime BKC office space and expands Brookfield's footprint in the building to 250,000 sq ft across three contiguous floors.

Title: Brookfield Asset Management Expands Footprint in Mumbai's Godrej BKC Building

July 02, 2025

Brookfield Asset Management (BAM) has recently acquired an additional office floor in the Godrej BKC building in Mumbai through the Insolvency and Bankruptcy Code (IBC). The acquisition was overseen by the National Company Law Tribunal (NCLT) and involved BAM exercising its right of first refusal to match Bank of Baroda's bid. This strategic move has expanded BAM's footprint in the building to 250,000 sq ft across three contiguous floors.

The acquisition underscores the attractiveness of prime BKC office space, a key commercial hub in Mumbai. BAM's expansion in the Godrej BKC building is part of its broader strategy to enhance its presence in the Indian real estate market. This move comes at a time when the company is also doubling its portfolio through strategic acquisitions, as highlighted in its recent financial results for the second quarter of 2025 [1].

BAM's second-quarter 2025 results showed a significant increase in revenue and net income, with revenue up 19% from the previous year to US$1.09 billion and net income up 20% to US$620.0 million. The company's profit margin remained at 57%, and earnings per share (EPS) increased to US$0.38 from US$0.30 in the previous quarter. Despite these impressive figures, BAM's revenues and earnings per share missed analyst expectations by 15% and 8.3%, respectively [1].

Brookfield India Real Estate Trust (BIREIT), an affiliate of BAM, has also been actively expanding its portfolio. In the fiscal year 2023-24, BIREIT doubled its portfolio by acquiring equal stakes in Downtown Powai and Candor TechSpace G1, Gurugram, in partnership with GIC. The acquisition was funded through institutional placement and a successful commercial paper issuance. In FY 2025, BIREIT acquired a 50% stake in the North Commercial Portfolio from Bharti Enterprises, further bolstering its portfolio valuation to Rs 38,000 Crore [2].

The acquisition of the additional office floor in Godrej BKC aligns with BAM's long-term strategy to grow its real estate portfolio and enhance its value proposition. As BAM continues to expand its footprint in the Indian market, investors should closely monitor the company's financial performance and strategic moves to assess its future potential.

References

[1] https://finance.yahoo.com/news/brookfield-asset-management-second-quarter-104920284.html
[2] https://www.icicidirect.com/stocks/brookfield-india-real-estate-trust-share-price