Embassy REIT Leases Record 2.0 Million Square Feet in Q1 FY2026
Business Wire India
2.0 msf leased this quarter across 25 deals; highest-ever Q1 leasing
Chennai sees strong pre-leasing with over 500k square feet leased at Embassy Splendid TechZone
Revenue up 13% YoY to Rs. 1,060 crores; Net Operating Income rises 15% YoY to Rs. 872 crores
Raised Rs. 4,225 crores of debt at a blended coupon of 7.18%
Entered binding documents for divestment of ~376k square feet of two strata owned blocks at Embassy Manyata in Bengaluru
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 first quarter ended June 30, 2025.
Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT , said,
'We are delighted to report a strong start to FY2026, with 2.0 msf of leasing this quarter and growing momentum in Chennai. Our revenue grew 13% YoY, and distributions grew by 4% YoY, reflecting the continued strength of our portfolio. We also raised Rs. 4,225 crores of debt at a blended coupon of 7.18% to opportunistically take advantage of a favorable rate environment, and to position the REIT well for future growth opportunities.'
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. 550 crores or Rs. 5.80 per unit for Q1 FY2026. The record date for the Q1 FY2026 distribution is August 05, 2025, and the distribution will be paid on or before August 12, 2025.
Business Highlights Leased 2.0 msf across 25 deals in Q1 FY2026, up 9% YoY. This includes ~1.0 msf of new leases, 360k sf of renewals and 665k sf of pre-leases
Strong pre-leasing activity led by Chennai, with over 500k sf pre-leased, including to a leading global healthcare company
Over 90% occupancy across all Bengaluru assets (75% of Gross Asset Value); 10 of 14 properties above 90%, including 6 at 100% occupancy. GCCs remain key drivers, contributing 64% of rentals
Financial Highlights Grew Revenue from Operations by 13% YoY to Rs. 1,060 crores and Net Operating Income (NOI) by 15% YoY to Rs. 872 crores
Delivered Distributions of Rs. 550 crores or Rs. 5.80 per unit, up 4% YoY
Raised Rs. 4,225 crores of debt at a blended coupon of 7.18%. This includes a Rs. 750 crore NCD issuance at a 6.97% coupon, which is the lowest rate achieved by the REIT in the last four years
Operational & Growth Highlights Entered binding documents for divestment of ~376k square feet of two strata owned blocks at Embassy Manyata in Bengaluru as part of strategic capital recycling
Received an invitation to offer from Embassy Developments Limited for a potential ~3.3 msf commercial project in Whitefield, Bengaluru; under evaluation per regulations and governance protocols
Current development pipeline of 6.1 msf in Bengaluru & Chennai, around 60% pre-leased, reflecting strong forward demand
Investor Materials and Quarterly Investor Call Details
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) standalone and consolidated financial results for the quarter ended June 30, 2025 (ii) an earnings presentation covering Q1 FY2026 results and, (iii) supplemental operating and financial data book that conforms 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 July 31, 2025 at 18:00 hours Indian Standard Time to discuss the Q1 FY2026 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com .
Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same.
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