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Embassy Office Parks REIT reported a strong start to FY27, with its net operating income and revenue from operations rising 17% year-on-year during the April–June quarter. The office REIT also announced a distribution of INR 598 crore to unitholders. During the quarter, the company leased 1.3 million square feet of office space, with Global Capability Centres (GCCs) remaining the primary demand driver. AI-related companies also accounted for a notable share of fresh leasing, reflecting the increasing role of technology-led occupiers in India's office market. The REIT continues to maintain one of the country's largest office portfolios.
Embassy Office Parks REIT reported a 17% year-on-year increase in its net operating income (NOI) to INR 1,020 crore for the quarter ended June, supported by healthy leasing activity across its office portfolio. According to a regulatory filing, the company's revenue from operations also grew 17% annually to INR 1,241 crore during the first quarter of FY27.
The Board of Directors of Embassy Office Parks Management Services Pvt Ltd, the manager of Embassy Office Parks REIT, approved a distribution of INR 598 crore, equivalent to INR 6.31 per unit, for unitholders for the April–June quarter of FY27.
The REIT leased 1.3 million square feet of office space during the quarter, indicating continued demand from large occupiers despite a cautious global business environment.
Chief Executive Officer Amit Shetty said Global Capability Centres (GCCs) remained the biggest source of leasing demand during the quarter, accounting for 81% of the total office space leased. He added that companies working in the artificial intelligence (AI) segment contributed 21% of new leasing activity, reflecting the growing presence of AI-driven businesses in India's commercial office market and their preference for high-quality office campuses.
India's office leasing market has continued to witness strong demand from GCCs over the past few quarters, with multinational companies expanding their engineering, technology, research and business support operations across major cities. Industry reports have also highlighted Bengaluru, Hyderabad, Pune and Chennai as key destinations for GCC expansion, while AI-focused companies have increasingly emerged as an important occupier segment.
Embassy Office Parks REIT owns and operates a portfolio of more than 52 million square feet of office space spread across Bengaluru, Mumbai, Pune, Delhi-NCR and Chennai, making it one of India's largest listed office REITs.
Apart from commercial office assets, its portfolio also includes five operational business hotels, two hotels under development, and a 100 MW solar park, which supplies renewable energy to its office campuses and tenants as part of its sustainability initiatives.
Source PTI
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