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

29 Jul 2021 CW Team

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

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..