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Embassy REIT Posts Record Q3, Boosts Payout as Leasing Strengthens and Deals Progress

A surge in leasing, rising rents, lower debt costs powered results.

Embassy REIT Delivers Robust 17% YoY Revenue Growth in Q3 FY2026; Evaluates Acquisition of Embassy Zenith, a 0.4 MSF Prime Office Asset in Bengaluru

Overview

  • Revenue from operations rose 17% year-on-year to Rs 1,193 crore and NOI increased 19% to Rs 985 crore in Q3 FY2026.
  • The Board declared a Rs 613 crore distribution, or Rs 6.47 per unit, with a record date of February 11 and payment due on or before February 18.
  • Leasing totaled 1.1 million sq ft across 22 deals, including 0.8 million sq ft of new leases signed at 17% re-leasing spreads and about 5% above market rents, with portfolio occupancy at 94% by value.
  • The REIT raised Rs 400 crore via commercial paper at a 6.44% effective rate and reported a reduced in-place cost of debt at 7.29%.
  • Portfolio actions included announcing a 0.3 million sq ft acquisition at Embassy GolfLinks, completing a Rs 530 crore divestment at Embassy Manyata, and inviting offers to evaluate the 0.4 million sq ft Embassy Zenith asset in Bengaluru.