Embassy REIT reports 36% rise in net operating income in Q1 FY22
Real Estate

Embassy REIT reports 36% rise in net operating income in Q1 FY22

On Wednesday, the Embassy Office Parks, Real Estate Investment Trusts (REIT) told the media that it saw a 36% rise in the Net Operating Income (NOI) to Rs 621.30 crore in the first quarter (Q1) of FY22.

It also declared a dividend distribution of Rs 534.61 crore to the unitholders. The NOI was at Rs 456.9 crore a year ago during the same period.

Over 99% of office rents have been collected on a 32.3 million sq ft operating portfolio, the REIT said. It has declared a distribution of Rs 5,346.12 million at Rs 5.64 per unit for Q1 FY22.

The distribution consists of a dividend of Rs 2,379.21 million per Rs 2.51 per unit, Rs 1,895.79 million per Rs 2 per unit as proceeds of amortisation of special purpose vehicles (SPV) level debt, and Rs 1,071.12 million per Rs 1.13 per unit as interest or less applicable taxes.

From the total, 80% distributions or Rs 4.51 per unit is tax-free for unitholders. The record date for Q1 FY22 is on 5th August, and the distribution is to be paid on or before 12th August.

The board has approved fundraising by rupee-denominated listed, rated, secured or unsecured redeemable, transferrable, non-convertible debentures aggregating to Rs 4,600 crore in one or more tranches.

The REIT has achieved a stable portfolio, occupying 89% with a successful increase of 13% rent on 2.2 million sq ft of leases.

Regarding the financial status, the net operating income of the company grew year-on-year by 36%, with operating margins of 84%.

The REIT has raised Rs 1,200 crore debt at 7.4% interest and refinanced Rs 520 crore, leading to savings of 80 basis points.

Image Source


Also read: Embassy REIT raises funds for IT park acquisition in Bengaluru

Also read: More REITs in India to be listed in 2021: JLL

On Wednesday, the Embassy Office Parks, Real Estate Investment Trusts (REIT) told the media that it saw a 36% rise in the Net Operating Income (NOI) to Rs 621.30 crore in the first quarter (Q1) of FY22. It also declared a dividend distribution of Rs 534.61 crore to the unitholders. The NOI was at Rs 456.9 crore a year ago during the same period. Over 99% of office rents have been collected on a 32.3 million sq ft operating portfolio, the REIT said. It has declared a distribution of Rs 5,346.12 million at Rs 5.64 per unit for Q1 FY22. The distribution consists of a dividend of Rs 2,379.21 million per Rs 2.51 per unit, Rs 1,895.79 million per Rs 2 per unit as proceeds of amortisation of special purpose vehicles (SPV) level debt, and Rs 1,071.12 million per Rs 1.13 per unit as interest or less applicable taxes. From the total, 80% distributions or Rs 4.51 per unit is tax-free for unitholders. The record date for Q1 FY22 is on 5th August, and the distribution is to be paid on or before 12th August. The board has approved fundraising by rupee-denominated listed, rated, secured or unsecured redeemable, transferrable, non-convertible debentures aggregating to Rs 4,600 crore in one or more tranches. The REIT has achieved a stable portfolio, occupying 89% with a successful increase of 13% rent on 2.2 million sq ft of leases. Regarding the financial status, the net operating income of the company grew year-on-year by 36%, with operating margins of 84%. The REIT has raised Rs 1,200 crore debt at 7.4% interest and refinanced Rs 520 crore, leading to savings of 80 basis points. Image Source Also read: Embassy REIT raises funds for IT park acquisition in Bengaluru Also read: More REITs in India to be listed in 2021: JLL

Next Story
Infrastructure Transport

Infrastructure Development

PPPs accelerate road growth“Over the past decade, India’s road sector has experienced a significant transformation, fuelled by strong government backing and a surge in private-sector investment,” according to Anshumali Srivastava, Chief General Manager – Tech, NHAI. Speaking about evolution of the sector since 2014, Srivastava highlighted how the shift from solely budgetary support to PPP models has been a gamechanger. Despite increased government spending, he said the sector still has an appetite for further investment, with private players stepping in to fill the gap.The reason ..

Next Story
Infrastructure Transport

Bidding Models

The evolution of road infrastructure models has become a focal point in discussions surrounding sustainable development and investment in India. Recent dialogues have highlighted the transformative shift from traditional EPC contracts to more dynamic frameworks such as BOT and HAM, underscoring the crucial role of the National Highways Authority of India (NHAI) in fostering PPPs that are vital for the country’s infrastructure growth. At this point in time, the Ministry of Road Transport & Highways (MoRTH) and NHAI had missed their national highway construction targets in six of the past ..

Next Story
Infrastructure Transport

Material Sustainability in Roads

As the demand for eco-friendly infrastructure grows, the road construction industry is adopting innovative methods to reduce emissions and embodied carbon in materials, addressing the global push towards sustainable development and setting a path for a more resource-efficient future in infrastructure.Embodied and operational carbon in the cement sector“While operational carbon – emissions during usage – gets much attention, embodied carbon, which accounts for emissions during construction, represents a significant portion, especially in highways where 50-60 per cent of carbon is embodied..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000