Embassy Office Parks REIT (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, successfully completed 3 years of listing, with strong business performance and delivering over ₹5,800 crores distributions to its growing Unitholder base.
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.
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 ₹2,491 crores in FY2022 (compared to FY2019) and achieved 84% operating margin
- Distributed over ₹5,800 crores to Unitholders, delivered over 15% annualized total returns and grew Unitholder base by 10x to over 40,000