Embassy REIT Leases Record 2.0 Million Square Feet in Q1 FY2026
Business Wire India
2.0 msf leased this quarter across 25 deals; highest-ever Q1 leasing
Chennai sees strong pre-leasing with over 500k square feet leased at Embassy Splendid TechZone
Revenue up 13% YoY to Rs. 1,060 crores; Net Operating Income rises 15% YoY to Rs. 872 crores
Raised Rs. 4,225 crores of debt at a blended coupon of 7.18%
Entered binding documents for divestment of ~376k square feet of two strata owned blocks at Embassy Manyata in Bengaluru
Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ('Embassy REIT'), India's first listed REIT and the largest office REIT in Asia by area, reported results today for the first quarter ended June 30, 2025.
Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT , said,
'We are delighted to report a strong start to FY2026, with 2.0 msf of leasing this quarter and growing momentum in Chennai. Our revenue grew 13% YoY, and distributions grew by 4% YoY, reflecting the continued strength of our portfolio. We also raised Rs. 4,225 crores of debt at a blended coupon of 7.18% to opportunistically take advantage of a favorable rate environment, and to position the REIT well for future growth opportunities.'
The Board of Directors of Embassy Office Parks Management Services Private Limited ('EOPMSPL'), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 550 crores or Rs. 5.80 per unit for Q1 FY2026. The record date for the Q1 FY2026 distribution is August 05, 2025, and the distribution will be paid on or before August 12, 2025.
Business Highlights Leased 2.0 msf across 25 deals in Q1 FY2026, up 9% YoY. This includes ~1.0 msf of new leases, 360k sf of renewals and 665k sf of pre-leases
Strong pre-leasing activity led by Chennai, with over 500k sf pre-leased, including to a leading global healthcare company
Over 90% occupancy across all Bengaluru assets (75% of Gross Asset Value); 10 of 14 properties above 90%, including 6 at 100% occupancy. GCCs remain key drivers, contributing 64% of rentals
Financial Highlights Grew Revenue from Operations by 13% YoY to Rs. 1,060 crores and Net Operating Income (NOI) by 15% YoY to Rs. 872 crores
Delivered Distributions of Rs. 550 crores or Rs. 5.80 per unit, up 4% YoY
Raised Rs. 4,225 crores of debt at a blended coupon of 7.18%. This includes a Rs. 750 crore NCD issuance at a 6.97% coupon, which is the lowest rate achieved by the REIT in the last four years
Operational & Growth Highlights Entered binding documents for divestment of ~376k square feet of two strata owned blocks at Embassy Manyata in Bengaluru as part of strategic capital recycling
Received an invitation to offer from Embassy Developments Limited for a potential ~3.3 msf commercial project in Whitefield, Bengaluru; under evaluation per regulations and governance protocols
Current development pipeline of 6.1 msf in Bengaluru & Chennai, around 60% pre-leased, reflecting strong forward demand
Investor Materials and Quarterly Investor Call Details
Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) standalone and consolidated financial results for the quarter ended June 30, 2025 (ii) an earnings presentation covering Q1 FY2026 results and, (iii) supplemental operating and financial data book that conforms with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com .
Embassy REIT will host a conference call on July 31, 2025 at 18:00 hours Indian Standard Time to discuss the Q1 FY2026 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com .
Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same.
Ahmedabad Plane Crash
Business Wire India, established in 2002, India's premier media distribution company ensures guaranteed media coverage through its network of 30+ cities and top news agencies.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
2 hours ago
- Business Upturn
P&G Health shares surge 8% as Q1 revenue jumps 19.5% YoY to Rs 339 crore
Shares of Procter & Gamble Health surged over 8% on Friday following the company's robust financial performance in the first quarter of FY26. The stock touched a high of ₹6,476, rising sharply from the previous close of ₹5,895.50. As of 2:12 PM, the shares were trading 7.97% higher at Rs 6,365.50. P&G Health reported a massive jump in net profit, which stood at ₹66.2 crore, up from ₹16.8 crore in the same quarter last year. Revenue for the quarter rose 19.5% year-on-year to ₹339 crore, compared to ₹283.8 crore in Q1FY25. The company's EBITDA also witnessed strong growth, rising 89% to ₹90.5 crore from ₹48.2 crore last year. Operating margins expanded to 26.7%, a significant improvement from 17% in the year-ago period. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
3 hours ago
- Yahoo
Mid-America Apartment's Q2 FFO Beats Estimates, Rent Declines
Mid-America Apartment Communities MAA, commonly known as MAA, reported second-quarter 2025 core funds from operations (FFO) per share of $2.15, which surpassed the Zacks Consensus Estimate of $2.14. However, the reported figure fell 3.15% year over year from $ has experienced a fall in same-store revenues, with average effective rent per unit declining year over year. However, the REIT witnessed low levels of resident this, MAA stock has declined 1.20% during the after-market hours and other property revenues of $549.9 million for the second quarter missed the Zacks Consensus Estimate by 0.4%. However, the reported figure was 0.6% higher than the year-ago quarter's tally. MAA's Q2 in Detail The same-store portfolio's revenues fell 0.3% on a year-over-year basis. MAA experienced a decline of 0.5% in the average effective rent per unit. The same-store portfolio's property operating expenses rose 3.8% on a year-over-year basis. As a result, the same-store portfolio's net operating income (NOI) fell 2.6%.The average physical occupancy for the same-store portfolio in the second quarter was 95.4%. Our estimate for the same was 95.7%.As of June 30, 2025, resident turnover in the same-store portfolio remained historically low at 41.0%. This stemmed from record-low levels of move-outs related to buying single-family homes (11.0%). During the second quarter, MAA's same-store effective blended lease rate growth was 0.5%, with the effective new lease rate dropping 4.8%, while the effective renewal lease rate grew 4.7%. MAA's Portfolio Activity In June 2025, MAA closed on the acquisition of a land parcel in Charleston, SC, through its pre-purchase development program and started construction on a 336-unit multifamily apartment of June 30, 2025, MAA had eight communities under development, with total expected costs of $942.5 million. Moreover, MAA had four recently completed development communities and two recently acquired communities in lease-up with a total cost to date of $573.9 million. MAA's Balance Sheet Position MAA exited the second quarter of 2025 with cash and cash equivalents of $54.5 million, up from $43 million recorded as of Dec. 31, 2024. As of June 30, 2025, MAA had a strong balance sheet with $1.0 billion in combined cash and capacity available under its unsecured revolving credit facility. It had a net debt/adjusted EBITDAre ratio of 4 of the same date, the total debt outstanding was $5 billion. Its total debt average years to maturity was 6.7 years. MAA's 2025 Guidance MAA projects a third-quarter 2025 core FFO per share in the band of $2.08-$2.24, with $2.16 at the midpoint. The Zacks Consensus Estimate of $2.17 lies within the residential REIT revised its projections and now expects 2025 core FFO per share in the range of $8.65-$8.89 compared with $8.61-$8.93 guided earlier, with the midpoint remaining unchanged at $8.77. The Zacks Consensus Estimate for the same is currently pegged at $8.76 and lies within the range. For 2025, management anticipates same-store property revenue growth of -0.20% to 0.40%, with the revised midpoint now at 0.10% compared with 0.40% growth projected earlier. Operating expense growth is expected in the range of 1.75% to 2.75%, with the midpoint declining to 2.25% from 3.20% growth expected earlier. As a result, the same-store NOI is anticipated to decline between 1.90% and 0.40%, with the midpoint remaining unchanged at a fall of 1.15%. MAA currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Mid-America Apartment Communities, Inc. Price, Consensus and EPS Surprise Mid-America Apartment Communities, Inc. price-consensus-eps-surprise-chart | Mid-America Apartment Communities, Inc. Quote Performance of Another Residential REIT AvalonBay Communities AVB reported second-quarter 2025 core FFO per share of $2.82, beating the Zacks Consensus Estimate of $2.80. The figure also climbed 1.8% from the prior-year quarter's tally. AvalonBay's quarterly performance reflects favorable same-store residential revenue and operating expense performance. AvalonBay has revised its full-year 2025 outlook, reflecting higher same-store NOI, offset by the delayed occupancies' impact on development NOI. AVB's total revenues in the quarter came in at $760.2 million, missing the Zacks Consensus Estimate by just 0.2%. However, the figure increased 4.7% on a year-over-year basis. An Upcoming Earnings Release We now look forward to the earnings release of another residential REIT — Equity Residential EQR — which is slated to report on Aug. Zacks Consensus Estimate for Equity Residential's second-quarter 2025 normalized FFO per share stands at 99 cents, indicating a 2.1% increase year over year. The consensus mark for Equity Residential's second quarter revenues is $769.26 million, implying a 4.8% increase year over year. EQR currently has a Zacks Rank #2 (Buy).Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AvalonBay Communities, Inc. (AVB) : Free Stock Analysis Report Equity Residential (EQR) : Free Stock Analysis Report Mid-America Apartment Communities, Inc. (MAA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
3 hours ago
- Yahoo
This 5.5%-Yielding Dividend Stock Sees Even Better Growth Ahead in 2025
Key Points W.P. Carey reported strong second-quarter results. The REIT's robust investment volume has it on track to grow faster this year. Its rising income supports its growing dividend. 10 stocks we like better than W.P. Carey › W.P. Carey's (NYSE: WPC) growth had stalled following its strategic decision to exit the troubled office sector. However, the real estate investment trust (REIT) is now regaining its momentum this year. Rising rental rates and robust investment activity are accelerating the company's earnings growth beyond its initial expectations. The REIT's accelerating growth puts it in a strong position to continue increasing its 5.5%-yielding dividend, making it an excellent source of passive income from real estate. Pressing down the accelerator W.P. Carey recently reported strong second-quarter results. The diversified REIT delivered a 10.5% increase in rental revenue, which supported a 9.4% rise in adjusted funds from operations (FFO) per share. The landlord continues to benefit from its high-quality portfolio, secured by long-term net leases with embedded lease escalation clauses. Contractual rental increases drove 2.3% same-property rent growth in the quarter. Additionally, W.P. Carey got a boost from new investments. The REIT invested $1.6 billion in new properties last year, including a quarterly record $841.3 million in the final period. That gave it a lot of momentum heading into 2025. The company followed that up with $275.1 million of new investments in the first quarter and $548.6 million in the second quarter. These new portfolio additions are providing the REIT with incremental income sources this year. Nearly all its new investments in the second quarter were industrial and warehouse properties. It closed several sale-leaseback transactions, acquired a property from a third party, and approved a couple of renovation and expansion projects. Its global reach was on full display in the quarter, as W.P. Carey made investments in the U.S., Germany, Spain, Italy, and Mexico. More growth ahead W.P. Carey has already secured another $227.2 million of new investments in the third quarter. That brought its year-to-date total to $1.1 billion, exceeding the low end of its initial investment volume guidance range ($1 billion-$1.5 billion). It also has $109.5 million in capital investments and commitments that it expects to complete by the end of this year. This strong volume gave the REIT the confidence to boost its full-year investment outlook to between $1.4 billion and $1.8 billion. One factor driving that higher investment volume is W.P. Carey's capital recycling strategy. While it completed its office property sales last year, it has been trimming other areas of its portfolio. It has sold $565 million of properties this year, including 15 self-storage facilities not secured by net leases, for $175 million. These sales are providing it with cash that it's investing in higher-return new investments. W.P. Carey's success in selling noncore properties has it on track to close $900 million to $1.3 billion of dispositions this year, up from its initial plans to sell $500 million to $1 billion of properties. The REIT's higher investment volume drove it to raise its full-year adjusted FFO-per-share guidance range to between $4.87 and $4.95 (up from $4.82 to $4.92). That new range suggests W.P. Carey will grow its earnings by 4.5% at the midpoint. The company's rising earnings should support continued dividend increases. W.P. Carey has increased its payout every quarter since resetting the level in late 2023 following its decision to exit the office sector, including by 3.4% already this year. An excellent passive income investment W.P. Carey is on track for faster growth in 2025, driven by the successful sale of noncore assets and the redeployment of that capital into higher-returning new property investments. This strategy enables the REIT to continue raising its high-yielding dividend, making it an attractive investment for those seeking reliable, steadily increasing passive income. Should you invest $1,000 in W.P. Carey right now? Before you buy stock in W.P. Carey, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and W.P. Carey wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $638,629!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,098,838!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Matt DiLallo has positions in W.P. Carey. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This 5.5%-Yielding Dividend Stock Sees Even Better Growth Ahead in 2025 was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
