Description

BSE announces implementation of XBRL mode submission for financial results by REITs and InvITs following revised SEBI Master Circular format, with mandatory 24-hour submission requirement.

Summary

BSE has implemented a new requirement for all Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to submit their financial results in XBRL mode. This follows the revised format prescribed in SEBI Master Circulars dated July 11, 2025. An excel utility has been made available on the Listing Centre portal for compliance with this requirement.

Key Points

  • REITs and InvITs must submit financial results in XBRL mode within 24 hours of PDF submission
  • Excel utility “Financial Results_REITs_InvITs” is now available on Listing Centre portal
  • Revised format based on SEBI Master Circular SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 for REITs and SEBI/HO/DDHS-PoD-2/P/CIR/2025/102 for InvITs
  • Portal path: Listing Compliance > XBRL > Financial Results REITs_InvITs
  • Queries to be directed to debt.compliance@bseindia.com

Regulatory Changes

The format for submission of financial results by REITs and InvITs has been revised as per SEBI Master Circulars dated July 11, 2025. The key change is the introduction of mandatory XBRL mode filing in addition to PDF submissions, requiring entities to use a standardized excel utility provided by BSE.

Compliance Requirements

  • All REITs and InvITs must submit financial results in both PDF and XBRL formats
  • XBRL submission must be completed within 24 hours of PDF submission
  • Entities must use the excel utility “Financial Results_REITs_InvITs” available on Listing Centre portal
  • Submissions to be made through: Listing Compliance > XBRL > Financial Results REITs_InvITs path

Important Dates

  • SEBI Master Circular for REITs: July 11, 2025 (SEBI/HO/DDHS-PoD-2/P/CIR/2025/99)
  • SEBI Master Circular for InvITs: July 11, 2025 (SEBI/HO/DDHS-PoD-2/P/CIR/2025/102)
  • BSE Circular Date: October 9, 2025
  • Effective immediately for all future financial results submissions

Impact Assessment

This circular has significant operational impact on all REITs and InvITs listed on BSE. Entities must ensure their reporting processes accommodate the 24-hour XBRL filing deadline after PDF submission. The implementation requires familiarity with the new excel utility and XBRL format requirements. Entities need to update their internal compliance procedures and may need to train personnel on the new submission process. Non-compliance could result in regulatory penalties and delays in financial result disclosures.

Impact Justification

Introduces mandatory XBRL filing requirements for all REITs and InvITs with strict 24-hour timeline, requiring operational changes to financial reporting processes