November 6, 2025

India’s first listed and Asia’s largest office REIT by area, Embassy Office Parks REIT, dazzled the market with sparkling numbers for the quarter ended September 30, 2025. Its revenue from operations shot up by 13% year-on-year to ₹1,124 crore. Even better, the Net Operating Income (NOI) zoomed 15% to ₹927 crore, showing strong business health. The embassy of good news didn’t stop there. The Board declared a hefty distribution of ₹617 crore, or ₹6.51 per unit, for Q2 FY26. Investors mark November 8, 2025, to grab this payout, which will be transferred by November 14. Leasing was on fire as the REIT signed 20 deals covering a whopping 1.5 million square feet. This included 1 million sq ft fresh leases, 0.4 million sq ft renewals, and a 64,000 sq ft pre-lease in Chennai. Bengaluru led the leasing spree, accounting for over 85% of activity. Occupancy rates were enviable: 93% by value and 90% by area. Bengaluru stood tall at 95%, Mumbai beamed at 100%, Chennai flaunted 96%, and Noida held firm at 92%. Making history, Embassy REIT completed India’s first 10-year non-convertible debenture (NCD) issuance by a REIT, raising a massive ₹2,000 crore from big institutional investors. On top of this, it gathered ₹400 crore via commercial paper at an attractive 6.44% annual interest rate. By September 2025, the REIT’s Gross Asset Value climbed by 8% year-on-year to a towering ₹63,980 crore, while the Net Asset Value per unit edged up 7% to ₹445.91. Development race is also on! Embassy REIT unveiled 0.9 million sq ft of new office space in Bengaluru, fully leased to a global retail giant. Excitingly, it’s launching 2 million sq ft of new projects in Chennai, bringing its total development pipeline to 7.2 million sq ft. Almost half (42%) of these are already pre-leased, including options for expansions, promising juicy returns. The hospitality wing also scored, with EBITDA rising 12% year-on-year thanks to a 16% hike in hotel average daily rates. Furthermore, Embassy REIT is eyeing multiple acquisition opportunities from third parties and its own Embassy Group. Amit Shetty, CEO of Embassy REIT, said with pride, "This quarter to marquee names, occupancy climbed to 93%, and we delivered our highest quarterly. As we scale our development pipeline and evaluate further growth opportunities, we remain steadfast in our commitment to build enduring value for all our stakeholders." Not just numbers but brains! Embassy REIT welcomed Arvind Kathpalia as an Independent Director on its Manager’s Board. With his arrival, five out of seven board members are independent directors. Kathpalia, formerly Group Head at Kotak Mahindra Bank, brings over 40 years of sharp experience in finance, banking, and risk management. He also serves on boards of Multi Commodity Exchange of India Limited and TruHome Finance Limited. Jitu Virwani, Chairman of the Manager Board, said, "His deep experience in financial oversight, governance and risk will be invaluable as we continue to scale and diversify our business. The addition of yet another seasoned independent leader reinforces our continued commitment to transparency, accountability and stewardship, principles that define Embassy REIT’s approach to delivering sustainable long-term value to our unitholders." Embassy REIT proudly manages a massive office portfolio across Bengaluru, Mumbai, Noida, and Chennai. With 50.8 million sq ft of office parks, it’s home to 274 leading global companies. Its footprint spans Bengaluru, Mumbai, Pune, the National Capital Region (NCR), and Chennai, making it the largest office REIT in Asia by area. And the empire is still growing, with active leasing and new projects lighting the path ahead.

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Tags: Embassy Office Parks Reit, Revenue growth, Leasing, Real Estate Investment Trust, New Development, Board Appointment,