Embassy REIT Grows Distributions by 8% in FY2025 and Projects Double-Digit Distribution Growth in FY2026
Delivers distributions of Rs. 2,181 crores (Rs. 23.01 per unit), exceeds mid-point distribution guidance by 1.1%
Leases 6.6 msf across 98 deals; exceeds full year initial leasing guidance of 5.4 msf by 22%
Grows Revenue and Net Operating Income by 10% YoY to annual record of Rs. 4,039 crores and Rs. 3,283 crores, respectively
Provides FY2026 guidance with distributions in the range of Rs. 24.50 to Rs. 26.00 per unit, implying a 10% YoY growth in distributions at midpoint and occupancy in the range of 93%-94% by value
Evaluating potential acquisition opportunities through both the Embassy Sponsor and third parties
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ('Embassy REIT'), India's first listed REIT and the largest office REIT in Asia by area, reported results today for the fourth quarter and full year ended March 31, 2025.
Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, said,
'We're delighted to report another excellent year for Embassy REIT as we mark six years since our listing in April 2019. In FY2025, we leased 6.6 msf, delivered 2.5 msf of new development and acquired a 5.0 msf high-quality asset. Notably, we increased distributions by 8% and are pleased to guide to double-digit distribution growth in FY2026. Our business is in excellent shape and our world-class office portfolio continues to see strong demand from leading companies across the globe.'
The Board of Directors of Embassy Office Parks Management Services Private Limited ('EOPMSPL'), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 538 crores or Rs. 5.68 per unit for Q4 FY2025. With this, the cumulative distribution for FY2025 totals Rs. 2,181 crores or Rs. 23.01 per unit. The record date for the Q4 FY2025 distribution is May 3, 2025, and the distribution will be paid on or before May 9, 2025.
Business Highlights Leased 6.6 msf across 98 deals in FY2025 including 4.0 msf of new leases, 1.6 msf of renewals and ~1 msf of pre-leases
Global Capability Centers (GCCs) across sectors accounted for ~60% of the annual leasing activity
Portfolio occupancy stands at 91% by value* —Bengaluru at 92%, Mumbai at 100%, and Chennai at 95% Grew Revenue from Operations and Net Operating Income (NOI) by 10% YoY to a record Rs. 4,039 crores and Rs. 3,283 crores, respectively
Delivered Distributions of Rs. 2,181 crores or Rs. 23.01 per unit, up 8% YoY for FY2025; Cumulative distributions of over Rs. 12,000 crores since listing
Refinanced ~Rs. 6,300 crores debt at an average rate of 7.98%; Continue to maintain a strong balance sheet with dual AAA/Stable credit ratings
Operational & Growth Highlights Delivered 2.5 msf new development in Bengaluru; Current development pipeline of 6.1 msf in Bengaluru & Chennai at 18% yield on cost
Acquired 5.0 msf premium business park in Chennai; Actively evaluating inorganic growth opportunities including ROFO assets from the Embassy Sponsor as well as other assets from third parties
Hotel portfolio performed strongly with 63% occupancy up 7% YoY, 12% ADR growth and growth in annual EBITDA by 25%
Investor Materials and Quarterly Investor Call Details
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) condensed standalone and condensed consolidated financial statements for the year ended March 31, 2025 (ii) an earnings presentation covering Q4 FY2025 results and FY2025 results, and (iii) supplemental operating and financial data book that is in-line with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.
Embassy REIT will host a conference call on April 29, 2025 at 18:30 hours Indian Standard Time to discuss the Q4 FY2025 and full year FY2025 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.
About Embassy REIT
Embassy REIT is India's first publicly listed Real Estate Investment Trust and the largest office REIT in Asia, by area. Embassy REIT owns and operates a 51.1 msf portfolio of 14 office parks in India's best-performing office markets of Bengaluru, Mumbai, Pune, the National Capital Region ('NCR') and Chennai. Embassy REIT's portfolio comprises 40.3 msf completed operating area and is home to 272 of the world's leading companies. The portfolio also comprises strategic amenities, including four operational business hotels, two under-construction hotels, and a 100 MW solar park supplying renewable energy to tenants. Embassy REIT's industry leading ESG program has received multiple accolades from renowned global institutions and was awarded a 5-star rating both from the British Safety Council and GRESB. Embassy REIT was included in the 2023 Dow Jones Sustainability Indices, making it the first REIT in India to be recognised for its sustainability initiatives by a leading global benchmark. For more information, please visit www.embassyofficeparks.com.
Disclaimer This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited ('the Manager') in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units. This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained. In addition to statements which are forward looking by reason of context, the words 'may', 'will', 'should', 'expects', 'plans', 'intends', 'anticipates', 'believes', 'estimates', 'predicts', 'potential' or 'continue' and similar expressions identify forward-looking statements. There can be no assurance that any potential opportunities will result in definitive transactions. This press release also contains certain financial measures (including guidance and proforma information) which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ.
*Occupancy by value refers to occupancy of the commercial offices weighted by the Gross Asset Value (GAV) of completed commercial offices
Shwetha Reddy (Head - Marketing and Communications), Embassy REIT, shwetha.r@embassyofficeparks.com, +91-8867845915; Amit Kharche (Head – Corporate Finance), Embassy REIT, ir@embassyofficeparks.com, +91 (80) 69354864
First Published: 30 Apr 2025, 11:04 AM IST
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
28 minutes ago
- Indian Express
MPC's June meeting: In pursuit of growth
The June meeting of the RBI's Monetary Policy Committee contained many surprises. As against expectations of a 25 basis point cut in interest rates, the committee lowered the benchmark repo rate by 50 basis points. This brings the cumulative cuts since February to 100 basis points. The repo rate now stands at 5.5 per cent. The rationale for doing so seems straightforward. As RBI Governor Sanjay Malhotra said, 'It is imperative to continue to stimulate domestic private consumption and investment through policy levers to step up the growth momentum.' And muted inflation provides the central bank the space to lower interest rates to do so. Inflation had edged lower to 3.16 per cent in April and is likely to stay subdued. A favourable monsoon bodes well for farm output and there are expectations of major commodities such as crude oil witnessing moderation. Forecasts by the RBI and most analysts do indicate softness in prices. As per the central bank's latest forecast, retail inflation, as measured by the consumer price index, is expected to average 3.7 per cent in 2025-26 (3.15 per cent in the first half of the year and 4.15 per cent in the second half). This is lower than its earlier estimate of 4 per cent. Alongside the rate cut, the RBI has also unexpectedly cut the cash reserve ratio by 100 basis points to boost liquidity. As per the central bank, this measure could release primary liquidity of Rs 2.5 lakh crore by December 2025. This will aid in policy transmission. However, at the same meeting, the RBI also unexpectedly announced a change in its policy stance from 'accommodative' to 'neutral', after having shifted it only in the last meeting. In the April policy meeting, the RBI Governor had said that the 'stance of monetary policy signals the intended direction of policy rates going forward'. This sudden decision is being viewed by some as signalling a pause in the rate cut cycle. In his comments, Malhotra did say that 'monetary policy is left with very limited space to support growth'. And though the central bank has retained its estimate of GDP growth for 2025-26 at 6.5 per cent, there does remain considerable uncertainty over the growth momentum. In fact, it has noted that 'spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties, pose downside risks to growth'. Thus, taken together, the various announcements in the June meeting do suggest that the central bank will probably adopt a wait-and-watch approach over the coming months as it assesses the impact of the measures it has announced so far. Policy action in this period will depend on how the trajectory of growth and inflation evolves.
India.com
31 minutes ago
- India.com
Meet 81-Year-Old Who Sold Detergent Door-to-Door On Bicycle, Took Rs 15,000 Loan, Now Leads Rs 23,000 Crore Firm — Know His Net Worth
photoDetails english 2912216 Updated:Jun 07, 2025, 07:31 AM IST Born in a Small Village 1 / 8 Karsanbhai Patel was born in 1945 in Ruppur, a small village in Gujarat. Raised in a financially constrained household, he understood the value of hard work early on. Despite limited resources, he was determined to build a better life. He pursued a in Chemistry and secured a modest government job—first as a lab assistant at New Cotton Mills and then at the Geology and Mining Department of Gujarat. From Government Job to Side Hustle 2 / 8 In 1969, Karsanbhai Patel began making detergent powder in his backyard, using a small loan of Rs 15,000. Before heading to his government job, he would sell handmade detergent packets door-to-door on his bicycle in Ahmedabad. Solving a Common Man's Problem 3 / 8 At that time, major detergent brands were priced beyond the reach of ordinary families. Patel saw this gap and formulated a low-cost yet effective alternative. He called it Nirma, named in memory of his late daughter, Nirupama. His pricing strategy — just Rs 13 per kg — struck a chord with middle-class households across India. From Backyard to Brand 4 / 8 Initially, Nirma was produced and packaged by hand in Patel's backyard. As word spread and demand grew, he took a small unit on rent to scale up production. His blend of quality, affordability, and trust made Nirma a household name. The simple, relatable packaging featuring the 'Nirma girl' helped solidify its identity. Advertising That Stuck With A Generation 5 / 8 Nirma's TV and radio jingles — 'Washing powder Nirma!' — became iconic across India. Its messaging appealed to homemakers and positioned the brand as both family-friendly and pocket-friendly. The combination of mass appeal and low price allowed Nirma to dominate even in rural markets. A Diversified FMCG Empire 6 / 8 By the 1990s, Nirma had expanded into soaps, beauty products, and other personal care items. It also became one of the world's largest producers of soda ash. Today, Nirma employs over 18,000 people and earns Rs 7,000 crore in annual revenue. The group's total turnover exceeds Rs 23,000 crore, with cement brand Nuvoco Vistas also under its belt. A Visionary Beyond Business 7 / 8 Patel didn't just stop at business. He founded the Nirma Education and Research Foundation (NERF) and Nirma University, which have become prestigious institutions in Gujarat. His contributions to business and education have earned him many accolades, including the Udyog Ratna Award (1990) and Ernst & Young Lifetime Achievement Award (2006). Net Worth 8 / 8 As of June 2025, Karsanbhai Patel's net worth is estimated at 5.1 billion dollars (Rs 42,585 crore), as per Forbes. His journey from cycling with detergent packets to leading one of India's most recognizable consumer brands is a testament to grit, vision, and the spirit of Indian entrepreneurship.
Time of India
32 minutes ago
- Time of India
Kota bank fraud: ICICI bank employee altered customer mobile numbers; stole Rs 4.58 crore over 3 years
ICICI employee swindles over 4.5cr from Kota city branch, arrested KOTA: In a major bank fraud, a relationship manager of ICICI Bank, Sakshi Gupta, has allegedly siphoned off Rs 4.58 crore from customer accounts in Kota city. The accused worked at Shriram Nagar branch of DCM area in Kota and committed the fraud during the 2020-23 period. She was arrested by the Udhyog Nagar police on May 31 following investigation. The crime first came to light on Feb 18, following which the branch manager lodged a complaint with the police. According to police, for around two-and-a-half years, Sakshi withdrew funds fraudulently from over 100 accounts of 41 customers. She purportedly invested the money in the stock market, but suffered heavy losses. To prevent customers from noticing, she changed the mobile numbers linked to several accounts to numbers belonging to her relatives, ensuring that transaction alerts and OTPs were not received by the real account holders. Bank manager Tarun Dadhich subsequently filed a complaint against her. According to Udhyog Nagar police station SI Ibrahim, the fraud was first reported on Feb 18. From 2020 to 2023, Sakshi had systematically transferred funds from various customer accounts, in some cases using an elderly woman's account, who was unaware of the activity, as a 'pool account'. She had transferred over Rs 3 crore into this account. Police probe confirmed that Sakshi misused debit cards, PINs and OTPs for these unauthorised transactions, and even activated overdraft facilities on 40 accounts without consent. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo She also prematurely closed fixed deposits of 31 customers, channelling Rs 1.34 crore into unauthorised accounts. In addition, a fraudulent personal loan for Rs 3.4 lakh was disbursed. Many transactions were conducted through insta kiosks and various digital banking platforms, with the accused using debit cards of four customers for ATM and internet banking activity. Funds from these frauds were also sent to Demat accounts as part of an attempted cover-up, police said. A statement issued by the ICICI Bank said, "The interest of our customers are of paramount importance to us. Immediately upon discovering the fraudulent activity, we filed an FIR with the police. We have a zero-tolerance policy against any fraudulent activity and thus suspended the employee involved. We would like to reassure that genuine claims of impacted customers have been settled." Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
