Embassy Office Parks REIT Sees Significant Growth in Q2 Performance

Embassy Office Parks REIT reported a 15% increase in net operating income to Rs 927 crore for Q2, alongside a 13% rise in revenue to Rs 1,124 crore. The company leased 1.5 million square feet and declared a distribution of Rs 617 crore to unitholders. Bengaluru led leasing demand.

Embassy Office Parks REIT reported a remarkable 15% increase in net operating income, reaching Rs 927 crore for the fiscal year's second quarter, as per their recently released financial results.

With revenue from operations climbing 13% year-on-year to Rs 1,124 crore during the period from July to September, the company's board announced a distribution of Rs 617 crore, translating to Rs 6.51 per unit for its investors.

Leasing activity was robust, with 1.5 million square feet now occupied, predominantly in Bengaluru, which accounted for more than 85% of the leases. The REIT's portfolio now encompasses 40.9 million square feet of operational area across prime locations in India.

(With inputs from agencies.)