Embassy Office Parks REIT s net operating income grew by 9% year-on-year to Rs 738 crore. The board approved the raising of debt up to an aggregate amount of Rs 16,000 million.
Embassy REIT reported a robust trend of expansionary demand, with existing occupiers contributing to over 80% of the new/pre-leasing, and Global Captive Centres (GCCs) from various sectors accounting for 71% of the total.
Real Estate Investment Trust: Currently, there are only four listed REIT entities in India. Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India REIT are office space-backed REITs, While Nexus Select Trust is the first mall and retail-asset-backed REIT in India.
A lingering worry is that the lack of clarity on global macro-economic conditions could keep global IT giants in wait-and-watch mode, leading to slower hiring and lower outsourcing of work to India.