The At Rs 865 crores as against Rs 741 crores, an increase of 17%
“Amidst a highly volatile global macro environment, Embassy REIT delivered yet another strong quarter of business performance. Our 4.4 msf year-to-date leasing remains robust, we’ve accelerated our highly accretive 6.6 msf development growth, and we’re on track to achieve our annual guidance, even as global earnings forecasts soften,” Vikaash Khdloya, Chief Executive Officer This is Embassy REIT.
Embassy Office Parks REIT leased 1 msf in 19 deals in Q3, at 13% leasing spreads. Year-to-date, total leasing was 4.4 msf across the 71 deals.
“The Indian office market continues to benefit from the offshoring megatrend and has outshined global office markets. Embassy REIT is ideally positioned to deliver value to unitholders given our scale, world-class properties, embedded growth potential and our fortress balance sheet,” He said.
It Distributions announced of Rs 503 crore or ₹5.31 per unit, marking the 15th consecutive quarter of 100% payouts
Embassy REIT claimed it has a strong balancesheet with low 27% leverage and an attractive 7.2% interest cost.Stable Credit ratingThe Firm has increased development of a 6.6msf active growth pipeline. Rs Expected increase of 3000 crore in investment Rs To be exact, 8000 crore Net Operating Income upon stabilization
Embassy REIT launches a 0.4msf office block in its new office building Embassy TechVillage continues to evaluate non-binding acquisition proposals for 7.1 msf. Chennai Bangalore.
The Board This is Directors This is Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager To Embassy REIT, at its Board Meeting Held earlier today, declared distribution of Rs 503 crore Rs 5.31 per unit for Q3 FY2023. The 03 is the record date for the Q3 FY2023 distribution February 2023 and the distribution payment will be made on or before 09 February 2023.