Embassy REIT Reports Robust Growth with 17% NOI Increase

Embassy Office Parks REIT reported a 17% rise in net operating income to Rs 892.3 crore for the quarter ending in March, also declaring Rs 538.4 crore in distributions. The company demonstrated strong growth with new leases and developments, maintaining high demand for its extensive office portfolio.

Embassy Office Parks REIT has announced a significant 17% increase in its net operating income for the quarter ended March, reaching Rs 892.3 crore. This financial upturn was accompanied by a distribution of Rs 538.4 crore to its unitholders, a testament to its robust commercial performance.

In comparison to the previous fiscal period, the REIT's net operating income stood at Rs 765.6 crore, indicating consistent upward momentum. For the fiscal year 2024-25, the company's NOI saw a 10% rise to Rs 3,283.5 crore from Rs 2,981.9 crore in the previous year, with distributions amounting to Rs 2,181.1 crore.

Under the leadership of CEO Ritwik Bhattacharjee, Embassy REIT has been proactive in expanding its real estate footprint, leasing 6.6 million square feet and acquiring 5 million square feet of quality assets. The company's world-class office spaces continue to attract global corporate demand, reinforcing its position as a leader in the sector.

(With inputs from agencies.)