Advertisement
Embassy Office Parks REIT reported strong performance in the July-September quarter, with net operating income rising 15% year-on-year to INR 927 crore and revenue growing 13% to INR 1,124 crore. The board approved a distribution of INR 617 crore, or INR 6.51 per unit, to be paid by mid-November. Leasing totalled 1.5 million sq ft, led by Bengaluru and supported by new Global Capability Centre demand in Chennai. India's first listed REIT, Embassy manages a 50.8 million sq ft portfolio across major cities, including offices, hotels, and renewable assets. The results highlight steady income growth, robust leasing, and the REIT's focus on sustainable expansion.
Embassy Office Parks REIT reported a notable rise in its operational performance during the second quarter of the ongoing financial year, with its net operating income increasing by 15 per cent to INR 927 crore. Revenue from operations also saw a year-on-year growth of 13 per cent, reaching INR 1,124 crore for the July-September quarter, as revealed through a recent regulatory filing. Advertisement
At its board meeting held earlier this week, the Board of Directors of Embassy Office Parks Management Services Pvt Ltd - the manager of Embassy REIT - approved a distribution of INR 617 crore, equivalent to INR 6.51 per unit, for the second quarter of the fiscal year. The record date for this distribution has been scheduled for later this week, with payments expected to be completed by mid-November.
The company reported total leasing of 1.5 million square feet during the September quarter, which included one million square feet of new leases, 0.4 million square feet of renewals, and around 4,000 square feet of pre-leases in Chennai. Bengaluru led the demand, contributing over 85 per cent of the leasing during the quarter, while Chennai displayed robust traction, driven by continued interest from Global Capability Centres in its recently acquired asset located in a key micro-market.
As India's first publicly listed Real Estate Investment Trust, Embassy REIT owns and manages a diverse portfolio spanning 50.8 million square feet across Bengaluru, Mumbai, Pune, the National Capital Region, and Chennai. Its portfolio includes 40.9 million square feet of completed operating area, along with strategic amenities such as four operational business hotels, two hotels under construction, and a 100 MW solar park.
The second-quarter results underscored Embassy REIT's consistent leasing performance and income growth across its diversified office portfolio. With Bengaluru continuing to anchor demand and Chennai strengthening its position through sustained GCC activity, the company's leasing strategy appeared well aligned with market momentum. The approved distribution further reinforced its commitment to rewarding unitholders, while the steady expansion of its hotel and renewable energy assets indicated the REIT's long-term focus on integrated, sustainable commercial real estate development.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
