BSEKnowledge Realty TrustHighNeutral
Announced Wed, 13 May · 14:27 IST

Knowledge Realty Trust has informed the Exchange regarding Disclosure of material issue

Mgmt Guided Margin ImprovementInvestor Communications View source PDF
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AI summary

Knowledge Realty Trust reported strong FY26 results with revenue up 16% YoY to ₹45,772 million and NOI up 18% YoY to ₹40,484 million, translating to an industry-leading NOI margin of 88%. Q4 FY26 saw revenue of ₹11,965 million and NOI of ₹10,533 million. The REIT declared Q4 distributions of ₹7,166 million (₹1.62 per unit), bringing cumulative distributions since listing in August 2025 to ₹21,019 million (₹4.74 per unit). Portfolio occupancy reached 92% with 3.5 msf of gross leasing in FY26 at 26% average spreads. The company reduced its cost of debt from 8.6% to 7.2% during the year through refinancing and rate negotiations. With a low LTV of 18%, strong ROFO pipeline of 6.7 msf across 4 cities, and 25% embedded mark-to-market potential, the REIT is well-positioned for growth. KRT was included in FTSE All World, All Cap and Nareit Global REITs indices in FY26.

Likely market impact

Strong operational and financial performance with margin expansion to 88% NOI margin demonstrates operational leverage. Low leverage (18% LTV) provides significant headroom for acquisitions, while the 25% MTM potential and healthy ROFO pipeline offer visible growth drivers. Tax-efficient distribution structure (87% tax-exempt/deferred) makes it attractive for unitholders.