Brookfield India Real Estate Trust (BIRET) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. We welcome you all to the fourth extraordinary meeting of the unitholders of Brookfield India Real Estate Trust. I am Saurabh Jain, Compliance Officer of Brookfield India Real Estate Trust and Company Secretary of Brookprop Management Services Private Limited, the manager of Brookfield India Real Estate Trust. I will be the host for this meeting. First of all, I would like to take you through certain points regarding participation in this meeting. In view of the SEBI circular dated January 12, 2023, Brookfield India REIT is conducting the unitholders' meeting through VC. The notice was circulated to the unitholders of Brookfield India REIT, informing that the extraordinary meeting of the unitholders scheduled to be held on August 26, 2023, will be held through VC to transact the businesses as set out in the notice. The facility for joining the extraordinary meeting through video conferencing has been made available to all the unitholders. All the unitholders joining the meeting are, by default, on mute to avoid any disturbance arising from background noise and to ensure smooth and seamless conduct of the meeting. During the meeting, the unitholders may ask questions to the panelists via the Q&A box by mentioning their name, demat account number and question during the meeting, and the same will be responded over e-mail in due course. In the event, any unitholder faces any issues or difficulty during the meeting, please contact the helpline number mentioned in the notice. After the conclusion of the proceedings of the meeting, please note that Link Intime e-voting portal will remain open for 15 minutes to enable unitholders to cast their e-vote. Unitholders who have not cast their votes during the remote e-voting period and are present in the meeting can cast their vote once the e-voting lines are open. The manager has appointed Mr. Maneesh Gupta, practicing company secretory as the scrutinizer to scrutinize the e-voting process, including remote e-voting in a fair and transparent manner. Now please let me introduce you to the Board of Directors of the manager participating in the meeting. May I request the directors to raise their hand when I call out their name. Mr. Shailesh Vishnubhai Haribhakti, Independent Director of the Manager and Chairman of the Audit Committee; Mr. Rajnish Kumar, Independent Director of the Manager. We also have members of the management team of the manager. We have with us Mr. Alok Aggarwal, Chief Executive Officer; and Mr. Sanjeev Kumar Sharma, Chief Financial Officer. Following persons are also attending the meeting, Ms. Tanvi Salvi, representative of Axis Trustee Services Limited, Trustee to the Brookfield India REIT; Mr. Rajendra Sharma, partner representing Deloitte Haskins & Sells, Statutory Auditors of Brookfield India REIT; and Mr. Maneesh Gupta, Practicing Company Secretary, who is present here as the scrutinizer of the meeting. Now I hand over the meeting proceedings to the Chairman for today's meeting, Mr. Shailesh Haribhakti. Over to you, Chairman.

Thank you, Saurabh. Dear unitholders. On behalf of the Board of Directors, thank you for joining us today. Since we have the requisite forum present through video conferencing to conduct the proceedings of this meeting, I call the meeting to order. The manager has made all reasonable efforts to enable unitholders to participate and vote on the items being considered in this meeting. The Board of Directors are joining this meeting from various locations. I'm Shailesh Haribhakti, Non-Executive Director on the Board of the Manager, I'm attending this meeting from Mumbai. Before we start the main proceedings of the meeting, I would request my colleagues on the Board to introduce themselves, and let us know the location from where they are joining the meeting, Mr. Rajnish Kumar?

I'm Rajnish Kumar, Independent Director on the Board of the Manager of REITs. I'm attending this meeting from my residence in Gurugram.

I now request Saurabh Jain, Company's Secretary to take up the proceedings of the meeting.

Thank you, Chairman. Now we take up the approval items, as mentioned in the notice of the meeting. Since the extraordinary meeting is conducted through video conferencing, the facility for appointment of proxy by the unitholders is not available for this meeting. The notice dated August 4, 2023, for the fourth extraordinary meeting was circulated to all the unitholders in advance whose e-mail ID is registered with the depository participant. With the permission of the unitholders and the Chairman, I'll take them as read. In compliance with SEBI circulars, Brookfield India REIT has provided the facility of remote e-voting to transact the businesses set out in the notice, and the set facility was opened from August 23, 2023, at 9 a.m. to August 25, 2023, 5 p.m. The resolutions would be declared after considering e-voting during the extraordinary meeting and remote e-voting already done. The results will be submitted to the stock exchanges within 2 days from the conclusion of the meeting and will be placed on the website of Brookfield India REIT and Link Intime India Pvt. Ltd. The proceedings of the meeting shall be uploaded on Brookfield India REIT's website. With your permission, I will now take up the resolution, which requires unitholders' approval. Item #1 of the notice to be passed by a special majority to consider and approve a preferential issue of 12,696,800 units of Brookfield India Real Estate Trust to Project Diamond Holdings (DIFC) Limited. Now I request Chairman of the meeting to conclude the meeting.

Thank you, unitholders for attending this meeting and for your support and faith in Brookfield's vision for our REIT. The unitholders who have not cast their vote during the remote e-voting period can cast their votes now. The e-voting platform will be open for 15 minutes after the conclusion of this meeting. The quorum for the meeting was present during this meeting. The results will be declared on or before August 28, 2023. With this, I conclude this meeting. Thank you very much.

Thank you. Thank you, everyone.