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Knowledge Realty Trust reported a strong performance for the first quarter of FY27, with its Net Operating Income (NOI) and total revenue rising 15 per cent year-on-year. The REIT also announced its highest-ever quarterly distribution of INR 751.6 crore to unit holders. Growth was supported by higher portfolio occupancy and healthy office leasing demand, particularly from front-office occupiers. During the quarter, the trust leased 1.4 million square feet of office space across its portfolio. Backed by Sattva Group and Blackstone, Knowledge Realty Trust continues to be India's largest listed real estate investment trust by office portfolio.
Knowledge Realty Trust reported a 15 per cent year-on-year increase in its Net Operating Income (NOI) to INR 1,243.1 crore for the first quarter of FY27. The company also declared a record distribution of INR 751.6 crore, or INR 1.70 per unit, to its unitholders for the quarter ended June.
According to a regulatory filing released earlier this week, the REIT's total revenue increased 15 per cent to INR 1,111.7 crore during the April-June quarter of FY27, reflecting steady operational performance across its office portfolio.
Knowledge Realty Trust, co-sponsored by Sattva Group and Blackstone, is India's largest real estate investment trust (REIT). The platform owns a portfolio of 29 Grade A office assets spread across six cities. As of the end of June, the portfolio comprised 46.5 million square feet, including 37.3 million square feet of completed office space and 2.6 million square feet under construction.
The trust's Chief Executive Officer, Shirish Godbole, said the company had begun FY27 on a strong note, with both revenue and NOI registering 15 per cent growth. He added that portfolio occupancy improved to 93 per cent during the quarter, supported by healthy demand from front-office occupiers, which accounted for more than half of the gross leasing activity.
During the quarter, Knowledge Realty Trust leased 1.4 million square feet of office space. Of the total leasing, 0.7 million square feet came from lease renewals, while the remaining 0.7 million square feet was contributed by fresh leasing transactions.
Knowledge Realty Trust made its stock market debut in August 2025 after completing one of India's largest REIT initial public offerings, raising around INR 4,800 crore. The trust owns premium office assets leased to multinational corporations and leading domestic companies, with Bengaluru, Hyderabad, Mumbai, Pune, Chennai and Gurugram forming its key markets. India's office REIT sector has continued to benefit from stable rental collections, healthy occupancy levels and sustained demand for Grade A office spaces from global capability centres, technology firms and financial services companies.
Source PTI
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