Embassy REIT distributes over Rs 5,800 cr to unitholders since listing

Embassy Office Parks REIT on Monday said it has distributed over Rs 5,800 crore to unitholders since its listing in April 2019.

In a regulatory filing, the company informed that it has successfully completed three years of listing, with strong business performance.

Embassy REIT has delivered over Rs 5,800 crore distributions to its growing unitholder base.

Jitu Virwani, Chairman of the Board of Manager of 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, the total return value for our growing base of unitholders," he said.

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, Virwani said.

Highlighting the performance since listing on stock exchanges, the company said it has leased 6.4 million square feet across 135 deals, increasing its occupier base to over 200 blue-chip corporates.

Embassy REIT has delivered 2.5 million square feet of new space and commenced a 4.6 million square feet of the new development growth cycle.

"Acquired and integrated a 9.2 million square feet marquee asset, Embassy TechVillage, in India's best micro-market in Bangalore. Grew Net Operating Income by 58 per cent to Rs 2,491 crore in FY2022 (compared to FY2019) and achieved 84 per cent operating margin," it said.

Embassy REIT said it has distributed over Rs 5,800 crores to unitholders, delivered over 15 per cent annualised total returns and grew the unitholder base by 10 times to over 40,000.