Embassy Office Parks REIT reported a strong performance for Q4 and FY2026, delivering robust leasing, double-digit growth in revenue and distributions, and record office completions. Backed by sustained demand from Global Capability Centres (GCCs), the REIT continues to strengthen its portfolio, expand its development pipeline, and guide for another year of double-digit growth in FY2027.

Amit Shetty, Chief Executive Officer of Embassy REIT, said, “FY2026 was another exceptional year for Embassy REIT. We delivered 6.4 msf of leasing and double-digit growth across revenue, NOI and distributions, driven by strong GCC-led demand, with Chennai emerging as a key growth driver. We delivered a record 3.3 msf of new office space, scaled redevelopment and strengthened our balance sheet through efficient capital raises, including pioneering the first-ever 10-year NCD issuance in India’s REIT market. We are guiding for double-digit growth in both distributions and NOI again in FY2027 and remain well-positioned to deliver sustained long-term value for our unitholders.”

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 ₹616 crores or ₹6.50 per unit for Q4 FY2026. With this, the cumulative distribution for FY2026 totals ₹2,396 crores or ₹25.28 per unit. The record date for the Q4 FY2026 distribution is April 30, 2026, and the distribution will be paid on or before May 08, 2026. 

Business Highlights:

• Leased 6.4 msf in FY2026 across 86 deals at 17% higher leasing spreads, including 4.0 msf of new leasing, 1.5 msf of renewals, and 0.9 msf of pre-leases
• Chennai saw strong momentum with robust leasing from large global companies – highlighted by one of the city’s largest deals – a full 0.65 msf block taken for a leading US GCC
• GCCs accounted for ~60% of the annual leasing activity, led by demand from Technology, Healthcare & BFSI sectors
• Portfolio occupancy increased by 300 bps to 94% (by value*) in FY2026

Financial Highlights

• Grew Revenue from Operations by 13% YoY to ₹4,582 crores and Net Operating Income (NOI) by 15% to ₹3,760 crores in FY2026
• Delivered Distributions of ₹2,396 crores or ₹25.28 per unit, up 10% YoY for FY2026; Cumulative distributions of over ₹14,400 crores since listing
• Raised ₹11,200 crores in FY2026, including ₹3,400 crores of 10-year NCDs, lowering the in-place cost of debt by 65 bps to 7.25%
• Portfolio GAV grew by 15% YoY to ₹70,540 crores and NAV by 16% YoY to ₹491.62 per unit

Operational & Growth Highlights

• Delivered a record 3.3 msf of new office space this year and acquired a 0.3 msf marquee asset in Embassy GolfLinks
• Scaled up redevelopment project at Embassy Manyata to 1.4 msf (vs. 0.8 msf earlier); expected yield of 22%
• Total development pipeline of 6.2 msf with a ₹3,500 crore capital outlay expected to deliver ~₹610 crores in stabilized NOI by FY2030
• Actively evaluating ~12.6 msf of potential acquisition opportunities from both Embassy Group and third parties
• Hotel portfolio performed well with 63% occupancy and 8% ADR growth YoY. Advancing a 518-key dual-branded Hilton development at Embassy TechVillage with 211-key Hilton Garden Inn expected to launch in Jul’26
• Unitholder register expanded to over 135,000, up from 4,000 at IPO, with a marked rise in domestic retail participation; delivered ~22% total returns in FY2026