CARE assigns AAA/Stable to Embassy REIT's Rs 1,000 cr NCD issue

CARE Ratings assigned AAA/Stable rating to Embassy REIT's proposed Rs 1,000 crore NCD issue with 5-year bullet repayment. All existing ratings including NCDs, Rs 2,000 crore commercial paper at A1+, and issuer rating were reaffirmed at AAA/Stable. FY26 revenue grew 13 percent YoY to Rs 4,582 crore; EBITDA at Rs 3,602 crore. Occupancy stood at 90 percent, net debt/GAV at 30 percent, and gross debt at Rs 22,385 crore.