Embassy Office Parks REIT has paid interest for the quarter ended June 30, 2026, across eleven series of privately placed Non-Convertible Debentures (NCDs) listed on the debt market segment of BSE Limited. The total interest disbursed amounts to ₹20,125.66 lakh, covering Series IV through Series XVI. The payments were made on June 29, 2026, one day prior to the scheduled due date of June 30, 2026.

The interest payments were made pursuant to Regulation 57 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The record date for determining the eligibility of holders for the interest payment was June 15, 2026. The company confirmed that there were no delays in payments and no changes in the frequency of interest distribution, which remains quarterly for all series.

Details of NCD Series and Payments

The interest payments covered the following ISINs: INE041007068 (Series IV), INE041007084 (Series V Tranche B), INE041007092 (Series VI), INE041007118 (Series VIII), INE041007142 (Series XI), INE041007159 (Series XII), INE041007167 (Series XIII A), INE041007175 (Series XIII B), INE041007183 (Series XIV), INE041007191 (Series XV), and INE041007209 (Series XVI). The issue sizes for these series range from ₹30,000 lakh to ₹2,00,000 lakh.

The previous interest payment for all these series was made on March 27, 2026. The company noted that the redemption payments were not applicable for the current period. The disclosure was submitted by Vinitha Menon, Head - Company Secretary and Compliance Officer, on behalf of Embassy Office Parks REIT.

Embassy Office Parks REIT has filed its Annual Report for the financial year ended March 31, 2026, with the National Stock Exchange of India Limited and BSE Limited, pursuant to Regulation 23 of the SEBI (Real Estate Investment Trusts) Regulations, 2014. The report was approved by the Board of Directors of Embassy Office Parks Management Services Private Limited, the Manager to the REIT, through a resolution passed by circulation.

FY2026 Financial Highlights

Embassy REIT delivered strong double-digit growth across all key financial metrics for FY2026. The following table summarises the REIT's consolidated financial performance:

Revenue growth was primarily driven by new lease-up at high re-leasing spreads, contracted rent escalations, and delivery of new buildings. Commercial office NOI margins stood at 86% and hotel margins at approximately 51%.

Leasing and Operational Performance

The REIT leased 6.4 msf across 86 deals during FY2026 at 17% higher blended leasing spreads. The leasing activity comprised:

• 4.0 msf of new leases at 24% re-leasing spreads
• 1.5 msf of renewals at 7% renewal spreads
• 0.9 msf of pre-commitments across Bengaluru and Chennai

Portfolio occupancy improved by 300 basis points to 90% by area and 94% by value during FY2026. Global Capability Centres (GCCs) accounted for approximately 60% of annual leasing activity, with demand led by Technology, Healthcare, and BFSI sectors. The REIT now hosts 102 GCCs within its occupier roster of 280 corporates, contributing over 67% of annual rentals.

Chennai emerged as a significant growth driver, with one of the city's largest deals — a full 0.65 msf block pre-leased to Cognizant for a GCC tenant at Embassy Splendid TechZone.

Portfolio and Development Activity

Embassy REIT delivered a record 3.3 msf of new office space during FY2026 across Bengaluru and Chennai, including:

The total commercial office development pipeline stands at 6.2 msf with a planned capital outlay of ₹35 bn, expected to add approximately ₹6 bn in stabilised NOI by FY2030. The hospitality portfolio is also expanding, with 518-key dual-branded Hilton hotels at Embassy TechVillage scheduled for phased launch from July 2026 to March 2027.

Inorganic Growth and Capital Recycling

During FY2026, Embassy REIT completed the acquisition of Pinehurst, a 100% leased 0.3 msf commercial office building within Embassy GolfLinks in Bengaluru, for an enterprise value of ₹8,528 mn at a forward NOI yield of approximately 7.90%. The acquisition was funded through the proceeds of the REIT's first-ever capital recycling transaction — the divestment of two strata-owned blocks at Embassy Manyata aggregating approximately 376,000 sq. ft. for a total consideration of ₹5,300 mn, representing a 2.2% premium to the average of two independent valuations.

Debt Management and Balance Sheet

Embassy REIT raised ₹112 bn in debt during FY2026, reducing its in-place cost of debt by approximately 65 basis points to around 7.25%. Key capital market transactions included:

The Series XV and XVI NCDs represent the first 10-year NCD issuances in India's REIT market. The REIT's net debt book totals ₹214 bn, implying a 30% Net Debt to GAV leverage ratio. Fixed-rate debt now accounts for 60% of the total debt book, with the average fixed debt maturity extended to 45 months. The REIT holds available debt headroom of ₹129 bn and cash and cash equivalents of ₹9,696.66 mn as at March 31, 2026.

Portfolio Valuation

As per the independent valuation conducted by Ms. L. Anuradha, MRICS, in conjunction with value assessment services by Cushman & Wakefield, the portfolio Gross Asset Value as at March 31, 2026 stood at ₹705,400 mn, up 15% year-on-year. The consolidated NAV was ₹465,999 mn, translating to a NAV per unit of ₹491.62, up 16% year-on-year.

Unitholder Returns and Market Performance

Embassy REIT delivered approximately 22% total returns to its 1,35,000+ unitholders during FY2026, comprising 15% price appreciation and a distribution yield. The unit price closed at ₹420.29 on NSE as at March 31, 2026. The REIT's unitholder base has grown 34x from approximately 4,000 at the time of its IPO in April 2019 to over 1,35,000 today. Cumulative distributions since listing have crossed ₹144 bn.

FY2027 Guidance

For FY2027, Embassy REIT has guided for NOI in the range of ₹41,500 mn to ₹43,500 mn and distributions in the range of ₹27.00 to ₹28.60 per unit, implying approximately 13% year-on-year NOI growth and approximately 10% year-on-year distribution growth at the midpoint of the guidance range. Key growth drivers include occupancy ramp-up, contracted rent escalations on 8.9 msf of leases, mark-to-market opportunities on expiring leases, new office deliveries, and refinancing of approximately ₹52 bn of debt maturing in FY2027.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE041025011/5a6f01cc4bda4974.pdf