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The Brookfield India Real Estate Trust (BIRET) Fair Value & Analysis

Real Estate · IN · Market cap ₹284B (≈ $3.0B) · ISIN INE0FDU25010

What is The Brookfield India Real Estate Trust really worth?

TB The Brookfield India Real Estate Trust BIRET · BSE
Price₹341.55
Fair Value₹119.42
Upside−65.0%
Quality39/100

Below-average quality, and trading another 186% above our fair value of ₹119.42.

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Strengths

Solidly profitable · 15.9% net margin
Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 3y +35.4 %/yr)
!Mixed vs. peers (6/14)
!Moderate moat 55/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 12 out of 100

For context

·6.37% dividend yield
Evidence: Medium Range ₹119.42 – ₹119.42

Fair value as of: Aug 19, 2026

From 13 valuation models · updated 16 days ago

Share price +1.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹119.42). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

₹357.24 ₹168.50 Fair Value ₹119.42 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹168.50 – ₹357.24 · the ₹341.55 price screens above the ₹119.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

The Brookfield India Real Estate Trust (BIRET) currently trades at ₹341.55, while our model-based Fair Value estimate is ₹119.42, implying the stock looks roughly 186.0% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector. Bull case: the Growth DCF group reads highest at a median of ₹656.21 per share, and 5 of the 13 models we run sit above the ₹341.55 price. Bear case: the Multiples group reads lowest at ₹98.58, and 8 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, The Brookfield India Real Estate Trust generated revenue of ₹33.7B at a net margin of 15.9%. Revenue grew 51.4% year over year. It earns a return on equity of 3.0%. Net debt stands at ₹158B. Fundamentals as of Aug 19, 2026

The share trades about 6% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −22% fair-value upside, at −65%, BIRET screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹154.21 ₹149.59 ₹126.69 73
Growth DCF ₹217.59 ₹656.21 ₹1,393 68
FCF DCF ₹242.27 ₹505.15 ₹1,365 67
All 13 models by family
DCF Models
FCF DCF ₹242.27 ₹505.15 ₹1,365 67
5Y Revenue Exit ₹70.47 ₹239.09 ₹590.36 61
5Y EBITDA Exit ₹181.92 ₹464.51 ₹1,019 65
10Y Revenue Exit ₹115.51 ₹433.05 ₹620.78 62
10Y EBITDA Exit ₹207.03 ₹678.69 ₹1,497 59
Multiples
P/S Multiple ₹73.93 ₹98.58 ₹123.22 58
P/B Multiple ₹73.93 ₹98.58 ₹123.22 55
EV/EBIT ₹149.62 ₹261.82 ₹374.02 64
EV/EBITDA ₹145.24 ₹255.98 ₹366.72 65
EV/Revenue ₹63.65 ₹138.83 50
Asset-Based
NCAV (Graham) ₹105.59 ₹141.49 ₹211.19 54
Growth DCF
Growth DCF ₹217.59 ₹656.21 ₹1,393 68
Economic Profit
Residual Income best evidence ₹154.21 ₹149.59 ₹126.69 73

Widest divergence: Growth DCF (₹656.21) versus Multiples (₹98.58). Highest evidence: Residual Income (73).

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Key figures & financial health

P/E ratio 46.9
P/S ratio 7.60 P/E × margin
EPS (TTM) ₹7.28 price ÷ EPS = P/E 46.9
Dividend yield 6.4%
Net margin 16.2% FY2026
Return on equity 3.0% TTM
More key figures
Profitability
Return on assets (EBIT) 3.8% avg 5y
Operating margin 59.9% TTM
Growth
Revenue (TTM) ₹33.7B TTM
Revenue growth (YoY) +51.4% 3y avg +35.4%
EPS growth (YoY) +8.1%
Balance sheet & cash flow
Free cash flow ₹19.9B FY2026
Net debt ₹158B FY2026 · ≈ 7.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 42 · Market factors (momentum, volatility) 66

Profitability 26
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 19
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

The Brookfield India Real Estate Trust is India's only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management, one of the world's largest alternative asset managers with approximately US$600 billion in assets under management, as of March 31, 2021, our goal is to be the leading owner of high …

Full company description

The Brookfield India Real Estate Trust is India's only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management, one of the world's largest alternative asset managers with approximately US$600 billion in assets under management, as of March 31, 2021, our goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

The Brookfield India Real Estate Trust reported revenue of ₹29.7B in FY2026 versus ₹8.8B in FY2022, a compound +35.7%/yr. Reported net income was ₹4.8B in FY2026, compounding +18.2%/yr from FY2022.

Growth Quality 95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹29.7B
Latest YoY
+24.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+35.4%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.3% (12.9 + 6.4)
Revenue +35.7%/yr
FY22 ₹8.8B
FY23 ₹12.0B
FY24 ₹17.9B
FY25 ₹23.9B
FY26 ₹29.7B
Net income +18.2%/yr
FY22 ₹2.5B
FY23 ₹1.3B
FY24 ₹121M
FY25 ₹1.8B
FY26 ₹4.8B

BIRET screens 186% overvalued. Compare with MERLIN Properties SOCIMI, S.A →

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Cite: Fair Value Calculator (2026). "The Brookfield India Real Estate Trust Fair Value". https://www.fairvalue-calculator.com/stock/BIRET

Peer Group

REIT - Office · 69 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 40 · Bottom 25%
Fair Value upside −65% · Bottom 25%
Return on equity (TTM) 3% · Above median
Return on assets 3% · Top 25%
Net margin (TTM) 16% · Above median
Operating margin (TTM) 60% · Above median
Revenue growth 51% · Top 25%
Dividend yield (TTM) 6.4% · Below median
Debt / equity 0.92× · Higher than median

Valuation Multiples vs REIT - Office median · lower = cheaper

P/E (TTM) 46.9× · Pricier than 75% of peers
P/B 1.62× · Pricier than 75% of peers
P/S (TTM) 8.41× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 17.9× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 24
FUTURE100 · sector 0
PAST12 · sector 11
HEALTH54 · sector 66
DIVIDEND100 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €13.51 €5.66 −58%
BXP, Inc BXP $67.95 $53.27 −22%
Vornado Realty Trust VNORP $51.00 $40.45 −21%
Alexandria Real Estate Equities, Inc ARE $51.63 $58.69 +14%
Gecina GFC €67.25 €75.35 +12%
Hudson Pacific Properties, Inc HPP $12.74 $3.81 −70%
Mapletree Pan Asia Commercial Trust N2IU 1.27 SGD 1.14 SGD −10%
Cousins Properties Incorporated CUZ $29.25 $17.46 −40%
EMBASSYRR EMBASSYRR ₹449.01 ₹134.34 −70%
Embassy Office Parks REIT owns, EMBASSY ₹435.90 ₹141.82 −67%

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Frequently asked questions

Is The Brookfield India Real Estate Trust (BIRET) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹119.42 versus a price of ₹341.55, about −65% upside (overvalued).
What is the fair value of BIRET?
Our model-based fair value for The Brookfield India Real Estate Trust is ₹119.42 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹341.55.
What is the quality score of BIRET?
The Brookfield India Real Estate Trust has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of The Brookfield India Real Estate Trust (BIRET)?
The Brookfield India Real Estate Trust reported trailing-twelve-month revenue of about ₹33.7B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of BIRET?
The net profit margin of The Brookfield India Real Estate Trust is about 15.9%, meaning it keeps roughly 15.9% of revenue as net income. Based on the latest reported figures.
Does The Brookfield India Real Estate Trust pay a dividend?
The Brookfield India Real Estate Trust currently shows a dividend yield of about 6.37% relative to its recent price (as of Aug 19, 2026).
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