NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has reported a 15% increase in its net operating income (NOI) totaling ₹3,760 crore for the financial year 2025-26.
The Board of Directors of Embassy Office Parks Management Services (EOPMSPL), the manager for Embassy REIT, declared distributions of ₹6,161.31 million (or ₹6.50 per unit) for the quarter ending March 31, 2026. This distribution includes ₹132.71 million (₹0.14 per unit) as interest, ₹1,317.57 million (₹1.39 per unit) as dividends, and ₹4,711.03 million (₹4.97 per unit) toward repayment of SPV-level debt.
Amit Shetty, CEO of the company, stated, “We successfully leased 6.4 million sq ft, achieving double-digit growth in revenue, NOI, and distributions, primarily due to robust demand from GCC, with Chennai emerging as a key growth hub. We delivered a record 3.3 million sq ft of new office space and are forecasting similar double-digit growth in both distributions and NOI for FY2027.”
The company saw a significant decline of 79.16% in its net consolidated profit for FY26, reporting a profit after tax (PAT) of ₹338.54 crore compared to ₹1,624.43 crore in FY25.
The total net consolidated income for the company reached ₹4,675.84 crore in FY26, marking an 11.83% increase from ₹4,181.29 crore in FY25.
The Board has announced a net asset value (NAV) of ₹491.62 per unit for Embassy REIT as of March 31, 2026, and approved raising debt up to ₹9,000 crore.
In Q4 FY26, the net consolidated total income grew by 11.78%, reaching ₹1,228.95 crore, compared to ₹1,099.39 crore in the same quarter the previous year. However, the loss after tax increased to ₹430.02 crore from a loss of ₹242.87 crore reported in the corresponding quarter of the previous fiscal year.
The company provided guidance for expected distributions in the range of ₹27 to ₹28.60 per unit for FY27, indicating a 10% year-on-year growth at the midpoint, with occupancy expected to be between 95%-96% by value.
In FY26, the company completed leases for 6.4 million sq ft across 86 deals at 17% higher leasing spreads and delivered 3.3 million sq ft of new office developments in Bengaluru and Chennai.
The portfolio occupancy increased by 300 basis points to 94% for FY26, while the portfolio Gross Asset Value (GAV) expanded by 15% year-on-year to ₹70,540 crore.
During FY26, the company raised ₹11,200 crore, which included ₹3,400 crore from 10-year NCDs, effectively lowering the in-place cost of debt by 65 basis points to 7.25%.
