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Embassy REIT Q2FY27 Revenue Rises 16% to ₹1,303 Crore, NOI Up 15%
Sentiment: PositiveHigh Priority
What Happened?
Embassy Office Parks REIT reported a 16% year-on-year revenue increase to ₹1,303 crore for Q2FY27, with net operating income rising 15% to ₹1,069 crore. The company also declared a record quarterly distribution of ₹670 crore.
Key points
- Embassy REIT leased 1.5 million square feet in Q2FY27, with GCCs accounting for 85% of demand.
- New leases were signed at an average 9% premium to market rents.
- The company’s gross asset value increased 16% year-on-year to around ₹74,000 crore.
- Portfolio occupancy stood at 93% by value at the end of September.
- Hotel revenue grew 22% year-on-year, with average daily rates increasing by 10%.
Key insights
- The increase in leasing activity may lead to further growth in the real estate market.
- Higher distributions could attract more investors to Embassy REIT.
- The strong performance in hotel revenue suggests a recovery in the hospitality sector.
Why it matters
The strong revenue growth indicates robust demand in the real estate sector, particularly from global capability centers.
Tags
Entities
Embassy Office Parks REIT· OrganizationBengaluru· City
Source
Business Standard
