Embassy Office Parks REIT reported a consolidated net profit of ₹1,952.18 million for the quarter ended June 30, 2026, driven by a 17% year-on-year growth in revenue from operations to ₹12,408.12 million and Net Operating Income (NOI) to ₹10,205 million. This turnaround from the previous quarter’s loss of ₹4,300.24 million is primarily attributed to the absence of the exceptional Minimum Alternate Tax (MAT) credit write-off that impacted Q4FY26 results. The Board of Directors of Embassy Office Parks Management Services Private Limited approved the unaudited financial results on July 30, 2026, and declared a distribution of ₹6.31 per unit, aggregating to ₹5,981.21 million, payable on or before August 11, 2026.

The distribution comprises ₹0.37 per unit as interest, ₹0.80 per unit as dividend, and ₹5.14 per unit as repayment of SPV-level debt. Statutory Auditors S.R. Batliboi & Associates LLP issued an unmodified review report on the financial statements, noting compliance with SEBI REIT Regulations and Ind AS 34. The record date for these distributions is August 04, 2026.

Financial Performance

Revenue from operations stood at ₹12,408.12 million for Q1FY27, compared to ₹12,046.81 million in the preceding quarter and ₹10,597.86 million in the same quarter last year. Total income was ₹12,600.08 million. Earnings before share of profit of equity accounted investee, finance costs, depreciation, amortisation, exceptional item and tax (EBSDAET) were ₹9,784.06 million. EBITDA grew 16% YoY to ₹9,784 million.

The previous quarter’s loss was driven by a one-time write-off of MAT credit amounting to ₹5,922.17 million, following amendments in the Finance Act, 2026. No such exceptional item was recorded in Q1FY27.

Leasing and Operational Highlights

The REIT leased 1.3 million square feet across 17 deals in Q1FY27. Global Capability Centers (GCCs) accounted for 81% of quarterly leasing demand, while AI-related companies contributed 21% of new leasing. New entrants drove 86% of new leasing, with leases signed at an 8% average premium to market rents. Portfolio occupancy stood at 93% by value, with Mumbai at 100%, Bengaluru at 95%, Noida at 93%, and Chennai at 92%. Hotel NOI grew 6% year-on-year, supported by a 100-bps increase in occupancy to 61% and 5% Average Daily Rate (ADR) growth.

Strategic Developments

The Board approved the termination of project agreements with Four Seasons India Hotel Management Company Private Limited regarding the 230-key hotel at Embassy One, Bengaluru, effective February 28, 2027. The REIT is evaluating potential new hospitality operators for the asset. Additionally, the Board approved the conveyance of a land parcel admeasuring 24 guntas at Thanisandra Village, Bengaluru, to Manyata Promoters Private Limited (MPPL). MPPL has paid a total consideration of ₹1,08,99,365 towards this acquisition.

What the Numbers Show

The net borrowings ratio of the REIT decreased to 31% as of June 30, 2026, from 32% in the corresponding period last year. This improvement reflects the REIT’s ongoing deleveraging strategy. During the quarter, the REIT raised ₹3,045 crores of debt at a blended coupon of 7.46% through commercial papers, NCDs, and bank loans. As of June 30, 2026, ₹1,230.00 million of the ₹7,002.41 million raised through Series XVII Non-Convertible Debentures had been utilized. The asset cover ratio remains robust at 5.24 times. The development pipeline stands at 6.2 msf with a ₹3,500 crores capital outlay, with approximately 60% of deliveries over the next two years already pre-leased.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE041025011/c42ce520-6ebe-439d-95f9-f5b239b3f85c.pdf

Unitholders of Embassy Office Parks REIT have approved the REIT’s audited financial statements and independent portfolio valuation report for the fiscal year ended March 31, 2026. The approvals were secured during the Eighth Annual Meeting of Unitholders held on July 24, 2026, via video conferencing. The resolutions passed with near-unanimous support, reflecting strong alignment among institutional and public unitholders on the REIT’s financial health and asset valuations.

The meeting addressed two ordinary resolutions as per the notice dated July 02, 2026. The first resolution concerned the adoption of the audited standalone and consolidated financial statements, along with the auditor’s report and the annual report on activities and performance. The second resolution involved the approval of the valuation report issued by Ms. L Anuradha, MRICS, an independent valuer, for the REIT’s portfolio as of March 31, 2026. Axis Trustee Services Limited, the trustee to Embassy REIT, noted the voting results and the scrutinizer’s report.

Voting Results Breakdown

The voting process included remote e-voting from July 20, 2026, to July 23, 2026, and e-voting during the meeting. Rupal D. Jhaveri, Company Secretary, served as the scrutinizer for the process. National Securities Depository Limited (NSDL) facilitated the voting platform, while KFin Technologies Limited acted as the Registrar and Share Transfer Agent.

A total of 1,52,061 unitholders were on record as of July 17, 2026. Of these, one sponsor group member and 39 public unitholders attended the meeting through video conferencing. The remaining votes were cast via remote e-voting. For the financial statements resolution, 69,03,46,563 votes were cast in favour out of 69,03,46,947 total polled votes, representing 99.9999% support. Similarly, the valuation report received 69,03,46,411 votes in favour, also amounting to 99.9999% support.

Procedural Compliance and Disclosures

The scrutinizer’s report confirmed that the meeting was conducted in a fair and transparent manner in compliance with Chapter 9 of the SEBI Master Circular SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025, for Real Estate Investment Trusts. The report highlighted that 2,64,02,829 votes were marked as invalid, primarily due to technical discrepancies or duplicate entries, while 3,16,661 votes were abstained. These invalid and abstained votes did not impact the passage of the resolutions, which required a simple majority.

Embassy Office Parks Management Services Private Limited, the manager to Embassy Office Parks REIT, ensured that unitholders who voted remotely could not vote again during the live meeting. The voting summary was downloaded from the NSDL platform in the presence of two witnesses after the closure of e-voting at approximately 3:18 PM IST on July 24, 2026. The archive of the webcast and detailed voting results are available on the REIT’s investor relations website.