April 30, 2021
Declares distribution of ₹5.6 per unit
Embassy Office Parks REIT (Embassy REIT) has posted a net profit of ₹46.75 crore, which is 19 per cent lower than the previous year s profit of ₹57.80 crore recorded in the same period.
The company’s income is higher by 31.98 per cent to ₹770.28 crore (₹583.59 crore). EPS for the quarter stood at ₹0.49 compared with ₹0.75 posted last year.
Distribution per Unit
The Board of Directors of Embassy Office Parks Management Services Private Limited, manager to Embassy REIT, has declared a distribution of ₹530.80 crore or ₹5.6 per unit for 4Q FY2021. The cumulative distribution for FY2021 totals ₹1,836.40 crore or ₹21.48 per unit, which is on target with the guidance issued earlier by management. The record date for the 4Q FY2021 distribution is May 7, 2021 and the distribution will be paid on or before May 14, 2021.
Results: Embassy REIT income rises 12% to Rs 2,032 crore in FY21
Embassy Office Parks REIT on Thursday reported 12 per cent growth in net operating income to Rs 2,032 crore and distribution of Rs 1,836 crore to unitholders during the last financial year despite the COVID-19 pandemic.
Embassy REIT expects office demand to be muted over the next 2-3 quarters but sees strong recovery thereafter on pent-up demand.
The Board of Directors of Embassy Office Parks Management Services Pvt Ltd, Manager of Embassy REIT, declared a distribution of Rs 530.8 crore or Rs 5.6 per unit for the quarter ended March.
The cumulative distribution for FY2021 totals Rs 1,836.4 crore or Rs 21.48 per unit, which is on target with the guidance issued earlier by the management, the company said in a statement.
Read more about Embassy REIT joins the WELL Portfolio Program to advance the global healthy building movement on Business Standard. Bengaluru (Karnataka) [India], April 28 (ANI/BusinessWire India): Embassy REIT, India s first listed REIT and the largest office REIT in Asia by area, announced today it has subscribed to the WELL Portfolio™ program by the International WELL
India Gate. Photo: Abhidev Vaishnav/unsplash
April 26, 2021
The second covid wave is going to impact the recovery of many sectors, including real estate. The commercial real estate sector, especially grade A offices, has shown resilience over the past year with good occupancy and rent recovery levels. But the second wave may hit growth prospects as companies may go slow on expansion plans as work from home continues. This may impact the performance of real estate investment trusts (Reits), which invest the majority of their assets in rent-generating commercial real estate, at least in the short term. Michael Holland, CEO, Embassy Reit, spoke to