Embassy REIT Q1 Results: Net Operating Income Rises 15% To Rs 871.8 Crore
Its net operating income stood at Rs 757.5 crore in the year-ago period.
Embassy Office Parks REIT on Thursday reported a 15% increase in its net operating income to Rs 871.8 crore in the first quarter of this fiscal.
Its net operating income stood at Rs 757.5 crore in the year-ago period.
The company will distribute Rs 549.8 crore to unitholders for the April-June quarter, an increase of 4% from the same quarter of the preceding year, according to a regulatory filing.
During the June quarter, the company leased 2 million sq ft area, up 9 per cent annually. This included around 1 million sq ft of new leases, 3,60,000 square feet of renewals and 6,65,000 sq ft of pre-leases.
The board also accepted the resignation of Ritwik Bhattacharjee as the Chief Executive Officer (Interim). He will continue as a Senior Advisor to Embassy REIT.
It approved the appointment of Amit Shetty as the Chief Executive Officer with effect from Aug. 1, 2025.
Further, the board approved entering into binding documents for the slump sale of an undertaking comprising 3,76,000 square feet of office space (located across two blocks) at Embassy Manyata in Bengaluru for Rs 530 crore.
