Knowledge Realty Trust Announces Rs 690 Crore Distribution to Unit Holders

Knowledge Realty Trust, a newly listed Real Estate Investment Trust co-sponsored by Sattva and Blackstone, declared a Rs 690 crore distribution for the September quarter. The distribution comprises dividends, interest, and capital repayment. The trust showed strong financial growth, with increased revenue, NOI, and occupancy rates across its property portfolio.

On Monday, Knowledge Realty Trust announced a substantial distribution of Rs 690 crore to its unit holders for the quarter ending September.

Listed recently after a successful Initial Public Offering (IPO), the Real Estate Investment Trust, co-sponsored by Sattva and Blackstone, disclosed in a regulatory filing that its board approved the distribution.

The allocation includes Rs 615.50 crore as a dividend, Rs 13.30 crore in interest, minus any applicable taxes, and Rs 61.19 crore for capital repayment. This follows a strong financial performance, with a quarterly revenue of Rs 1,123.8 crore and net operating income reaching Rs 988.1 crore.

CEO Shirish Godbole highlighted a 17% revenue increase year-on-year, totaling Rs 22,019 million, while Chief Operations Officer Quaiser Parvez noted robust leasing momentum. The portfolio occupancy rose to 92%, supported by global capability centers (GCCs) and domestic demand, with 29 Grade-A office assets totaling 46.4 million square feet in various stages of development across six Indian cities.

(With inputs from agencies.)