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Nirmal Bang Report
Embassy Office Parks real estate investment trust's management sounded optimistic on the conference call about rising request for proposal and enquiries for leasing.
Given the relatively reduced intensity of the third Covid wave, the combination of rising demand and relatively lower new supply will drive the rentals higher.
Embassy REIT delivered good set of numbers for Q4 FY22, with revenue coming in at Rs 7,488 million, up 1.4% YoY and 1.1% QoQ.
Net operating income increased by 1% YoY to Rs 6,995 million and NOI margin stood at 93.4%.
The company distributed 100% of the net distributable cash flows in Q4 FY22, implying Rs 5.26/unit, of which 80% distribution is tax free.
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