Knowledge Realty Trust (KRT), India's largest and most geographically diverse office REIT, has announced robust financial results for the quarter and half-year ended September 30, 2025, marking its first quarter after listing.

Strong Financial Performance

KRT reported a significant 20% year-on-year growth in Net Operating Income (NOI) to Rs 19,544.00 million for H1 FY26, with NOI margins reaching a record 89%. For Q2 FY26, the REIT posted revenue of Rs 11,238.00 million and NOI of Rs 9,881.00 million.

Leasing Momentum and Occupancy Gains

The REIT delivered strong gross leasing of 1.8 million square feet in H1 FY26, comprising 1.2 million square feet of new leases and 0.6 million square feet of renewals, at an impressive 29% average spread. This robust leasing activity led to a 340 basis points year-on-year increase in portfolio occupancy, reaching 92%.

KRT's core markets continued to benefit from strong fundamentals:

• Hyderabad: 99% occupied, up 150 bps YoY
• Mumbai: 88% occupied, up 570 bps YoY
• Bengaluru: 88% occupied, up 410 bps YoY

Tenant Mix and Rental Escalations

Global Capability Centers (GCCs) and domestic firms accounted for about 70% of KRT's leasing activity in H1 FY26. The REIT also achieved annual rental escalations on over 90% of its leasing during this period, focusing on embedded growth.

Financial Management and Distribution

KRT successfully raised Rs 16,000.00 million through AAA-rated listed Non-Convertible Debentures (NCDs) at a competitive coupon rate of 7.2%. The REIT's debt refinancing efforts, rate reductions, and low-cost NCDs have resulted in a 7.4% p.a. interest cost, leading to 120 bps annual savings.

The REIT maintains a low Loan-to-Value (LTV) ratio of 18%, providing significant headroom for future growth.

In a move that will please unitholders, KRT has declared its first distribution of Rs 6,900.00 million, or Rs 1.556 per unit. The distribution comprises:

• Rs 1.388 per unit as dividend
• Rs 0.030 per unit as interest
• Rs 0.138 per unit as capital repayment

Management Commentary

Shirish Godbole, Chief Executive Officer of Knowledge Realty Trust, commented on the results: "Our IPO in August 2025 marked a significant milestone - not only for KRT but also for India's REIT ecosystem. We are delighted to report our robust maiden results post listing. Revenue grew 17% YoY to Rs 22,019.00 million and NOI rose 20% YoY to Rs 19,544.00 million with industry-leading margins."

Quaiser Parvez, Chief Operating Officer, added: "During the first half of FY26, we saw strong momentum with gross leasing of 1.8 million square feet and a healthy spread of 29%. Occupancy continues to trend upward, rising 340 bps YoY and taking portfolio occupancy to 92%, underpinned by GCCs and domestic demand."

IPO Highlights

KRT's initial public offering in August 2025 was met with strong investor interest:

• 12x oversubscription, among the highest in REITs
• Rs 62,000.00 million capital raised (Rs 14,000.00 million pre-IPO and Rs 48,000.00 million IPO)
• Proceeds primarily utilized for debt repayment of Rs 60,000.00 million, significantly reducing LTV from 31% before IPO to 18%

With its diverse portfolio of 29 Grade-A office assets totaling 46.4 million square feet across six Indian cities, Knowledge Realty Trust is well-positioned to capitalize on the growing demand for quality office spaces in India.

Knowledge Realty Trust (KRT), a prominent player in the Indian real estate investment trust (REIT) sector, has announced key dates for its upcoming financial disclosures and investor communications. The trust, managed by Knowledge Realty Office Management Services Private Limited, has scheduled several important events that investors and analysts should note.

Earnings Conference Call

Knowledge Realty Trust will host its earnings conference call on Monday, November 10, 2025, at 04:00 PM IST. The call will focus on discussing the trust's financial performance for the second quarter and half year ended September 30, 2025. Investors and analysts can participate in the call using the following details:

Participants are advised to dial in 10-15 minutes before the scheduled start to avoid connectivity issues. A recording and transcript of the call will be made available on the company's investor relations website following the conference.

Board Meeting and Financial Results

The Board of Directors of Knowledge Realty Office Management Services Private Limited, the manager of KRT, will convene on Monday, November 10, 2025. The meeting agenda includes:

1. Review and potential approval of the Unaudited Standalone and Consolidated Financial Results for Q2 and H1 FY2026 (ended September 30, 2025).
2. Consideration of distribution declaration to unitholders for Q2 FY2026.

Distribution Details

Subject to board approval, KRT has outlined the following timeline for the proposed Q2 FY2026 distribution:

• Record Date: Thursday, November 13, 2025
• Payment Date: On or before Thursday, November 20, 2025

Stock Information

Knowledge Realty Trust is listed on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE) with the following details:

Investors are encouraged to stay tuned for the upcoming earnings call and subsequent financial disclosures, which will provide crucial insights into Knowledge Realty Trust's performance and future outlook in the dynamic Indian real estate market.