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Embassy REIT Posts 15% Q1 NOI Rise, Appoints Amit Shetty as CEO

Record leasing of 2.0 million square feet propelled occupancy gains, underpinning fresh distributions alongside a major slump sale fueling its development pipeline.

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Overview

  • Net operating income climbed 15% year-on-year to ₹871.8 crore and revenue rose 13% to ₹1,060 crore in the April-June quarter.
  • Board declared ₹550 crore in distributions for Q1 FY2026, marking a 4% increase from a year earlier and scheduled payment in August.
  • Embassy REIT raised ₹4,225 crore of debt at a blended 7.18% coupon to support ongoing portfolio optimization and new projects.
  • Directors approved binding documents for a ₹530 crore slump sale of 376,000 square feet at Embassy Manyata Bengaluru as part of its capital recycling strategy.
  • Amit Shetty will take over as CEO on August 1, 2025, with interim chief executive Ritwik Bhattacharjee transitioning to a senior advisor role.