Embassy REIT distributes over Rs5,800 crore since listing, Unitholder base grows 10x to over 40k

13 Jun 2022 , 03:45 PM

Embassy Office Parks REIT has successfully completed 3 years of listing, with strong business performance and delivering over Rs5,800 crore distributions to its growing Unitholder base.

As per the regulatory filing, earlier today, Embassy REIT held its 4th Annual Meeting at the recently launched Hilton Convention Centre at Embassy Manyata in Bangalore. During this meeting of its Unitholders, the Board and Management team highlighted Embassy REIT’s business resilience and achievements during the pandemic and presented the business strategy and roadmap for growth.

Jitu Virwani, Chairman of the Board of Manager to Embassy REIT, said, “Since our IPO in 2019, Embassy REIT has consistently delivered over the last three years, despite two years in the shadow of the global pandemic. We have always focused on the creation of long-term, total return value for our growing base of unitholders. Embassy REIT is primed to deliver growth as corporates implement their return-to-office plans and accelerate hiring and leasing continues to gain momentum driven by global technology trends.”

Performance Highlights Since Listing:

• Leased 6.4 msf across 135 deals, increasing occupier base to over 200+ blue-chip corporates
• Delivered 2.5 msf of new space, including 1.1 msf state-of-the art JP Morgan campus and commenced 4.6 msf new development growth cycle
• Acquired and integrated a 9.2 msf marquee asset, Embassy TechVillage, in India’s best micro-market in Bangalore
• Grew Net Operating Income by 58% to Rs2,491 crore in FY2022 (compared to FY2019) and achieved 84% operating margin
• Distributed over Rs5,800 crore to Unitholders, delivered over 15% annualized total returns and grew Unitholder base by 10x to over 40,000

On Monday, Embassy Office Parks REIT ended at Rs403.99 per piece lower by 0.24% on the BSE.