NEW DELHI: Knowledge Realty Trust has reported a 20% year-on-year increase in net operating income (NOI), reaching ₹19,544 million for H1 FY26, with NOI margins at 89%. In Q2 FY26, the company recorded a revenue of ₹11,238 million and an NOI of ₹9,881 million. A distribution of ₹6,900 million, or ₹1.56 per unit, was also announced.
The firm successfully raised ₹16,000 million through AAA-rated listed non-convertible debentures (NCDs) with a 7.2% coupon rate. The company noted, “Debt refinancing, rate reductions, and low-cost NCDs have contributed to a reduced interest cost of 7.4% per annum, achieving annual savings of 120 basis points.”
Shirish Godbole, the CEO, expressed, “We are thrilled to share our strong maiden results post-listing. Revenue has risen 17% year-on-year to ₹22,019 million, while NOI has grown 20% year-on-year to ₹19,544 million, showcasing industry-leading margins. We are also pleased to announce our first distribution of ₹6,900 million (₹1.56 per unit).”
Gross leasing activity totaled 1.8 million sq ft in H1 FY26, consisting of 1.2 million sq ft from new leases and 0.6 million sq ft from renewals, with an average spread of 29%.
Portfolio occupancy improved by 340 basis points year-on-year, now standing at 92%. Approximately 70% of leasing activity during the first half of FY26 came from GCCs and domestic firms.
Quaiser Parvez, COO, stated, “In H1 FY26, we experienced strong momentum with 1.8 million sq ft of gross leasing and a healthy spread of 29%. Occupancy continues to rise, gaining 340 basis points year-on-year and reaching 92%, bolstered by GCCs and domestic demand.”
The firm achieved annual rental escalations on over 90% of its leases in H1 FY26, with a low loan-to-value (LTV) ratio of 18%, providing ample room for growth.
