Embassy REIT Q1 FY27: Revenue & NOI Up 17%, Leases 1.3 Msf
Embassy Office Parks REIT (Embassy REIT) reported a strong first quarter for FY2027, with revenue and Net Operating Income (NOI) both growing by 17% year-on-year to ₹1,241 crores and ₹1,020 crores, respectively. The REIT successfully leased 1.3 million square feet across 17 deals, with Global Capability Centers (GCCs) driving 81% of the demand. Distributions for the quarter were declared at ₹598 crores, or ₹6.31 per unit, marking a 9% year-on-year increase. The company also raised ₹3,045 crores of debt at a blended coupon rate of 7.46%. The CEO highlighted the growing depth of India's office market, with AI-related companies contributing significantly to new leasing, and noted the increasing recognition of REITs in India's capital markets.
Key Highlights
- Revenue and Net Operating Income grew 17% YoY to ₹1,241 Cr and ₹1,020 Cr.
- Leased 1.3 million sq ft, with GCCs accounting for 81% of demand.
- Declared distributions of ₹598 Cr (₹6.31 per unit), up 9% YoY.
- Raised ₹3,045 Cr debt at a blended coupon of 7.46%.
- Portfolio occupancy stands at 93% by value.
Price Impact
More from EMBASSY