Embassy Office Parks REIT has informed the Exchange regarding Annual Full Valuation report for assets for FY ended 2025-26
Awaiting price reaction for this filing.
Embassy REIT reported strong FY2026 results with revenue up 13% YoY to ₹4,582 crores and Net Operating Income up 15% YoY to ₹3,760 crores. Distributions grew 10% YoY to ₹2,396 crores (₹25.28 per unit). The REIT leased 6.4 msf across 86 deals at 17% higher leasing spreads, with global capability centers (GCCs) driving 60% of leasing activity. Portfolio valuation strengthened significantly with Gross Asset Value up 15% YoY to ₹70,540 crores and Net Asset Value up 16% YoY to ₹491.62 per unit. The REIT raised ₹11,200 crores during FY2026 including pioneering India's first 10-year REIT NCDs, reducing in-place debt cost by 65 bps to 7.25%. Occupancy improved by 300 bps to 94%. For FY2027, management guides for distributions of ₹27-28.60 per unit (10% growth at midpoint) and occupancy of 95-96%.
The strong double-digit growth in NOI and distributions, combined with 16% NAV growth and healthy FY2027 guidance, signals continued value creation for unitholders. The 6.2 msf development pipeline and ₹3,500 crore capital outlay provide visibility on future earnings growth.