Embassy REIT to invest Rs 2,800 cr in developing office spaces
Real Estate

Embassy REIT to invest Rs 2,800 cr in developing office spaces

Embassy Real Estate Investment Trust (Embassy REIT) is planning to invest more than Rs 2,800 crore for the development of its office spaces across India.

The higher officials of the company informed the media that Embassy REIT needs to take possession of more land for the business in various cities to expand their reputation.

Since Embassy REIT currently owns office properties in about 5.7 million sq ft of land that is still under development, the request for office space has ceased for a while but will see light soon. The break is due to the sudden surge of the second wave of Covid-19.

The resumption is expected soon after the employees are back to the office. The construction will be continued and the projects are expected to be completed from 2023 onwards, said Vikaash Khdloya, the chief working officer.

The agency has a pan-India acquisition capacity of 31.2 million sq ft with a Right of First Offer (ROFO) opportunity from the Embassy Sponsor and an alternative of another 4.2 million sq ft from various builders.

In spite of being hit by the pandemic, Embassy REIT signed 1.2 million sq ft of lease contracts in FY20.

Mike Holland, Chief Executive of Embassy REIT told the media that the company has advanced despite being hit by the pandemic, with a 12% annual growth in net operating income (NOI) in FY20 and 89% occupancy. He added that the future of the company is in safe hands in India.

In the previous fiscal year, the agency raised Rs 5,200 crore debt at a coupon charge of 6.9% and renewed finance of Rs 3,280 crore, financial savings of 336 foundation factors. 100 foundation factors are one share level.

Image Source


Also read: Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22

Also read: Over 7,400 office leases up for renewal in 2021

Embassy Real Estate Investment Trust (Embassy REIT) is planning to invest more than Rs 2,800 crore for the development of its office spaces across India. The higher officials of the company informed the media that Embassy REIT needs to take possession of more land for the business in various cities to expand their reputation. Since Embassy REIT currently owns office properties in about 5.7 million sq ft of land that is still under development, the request for office space has ceased for a while but will see light soon. The break is due to the sudden surge of the second wave of Covid-19. The resumption is expected soon after the employees are back to the office. The construction will be continued and the projects are expected to be completed from 2023 onwards, said Vikaash Khdloya, the chief working officer. The agency has a pan-India acquisition capacity of 31.2 million sq ft with a Right of First Offer (ROFO) opportunity from the Embassy Sponsor and an alternative of another 4.2 million sq ft from various builders. In spite of being hit by the pandemic, Embassy REIT signed 1.2 million sq ft of lease contracts in FY20. Mike Holland, Chief Executive of Embassy REIT told the media that the company has advanced despite being hit by the pandemic, with a 12% annual growth in net operating income (NOI) in FY20 and 89% occupancy. He added that the future of the company is in safe hands in India. In the previous fiscal year, the agency raised Rs 5,200 crore debt at a coupon charge of 6.9% and renewed finance of Rs 3,280 crore, financial savings of 336 foundation factors. 100 foundation factors are one share level. Image Source Also read: Macrotech Developers plan to invest Rs 2,800 cr on realty in FY22 Also read: Over 7,400 office leases up for renewal in 2021

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?