Knowledge Realty Trust has appointed M/s S R B C & Co LLP as its statutory auditors for a period of three consecutive financial years, subject to the approval of unitholders at the ensuing Annual Meeting. The appointment covers financial years 2026-27, 2027-28, and 2028-29. The Board of Directors of Knowledge Realty Office Management Services Private Limited, the Manager to the Trust, approved the appointment at its meeting held on June 17, 2026. The firm holds registration number 324982E/E300003 and is part of the M/s S.R. Batliboi & Affiliates network. Additionally, the Board appointed iVAS Partners as the Independent Valuer of the Trust for the same three-year period. iVAS Partners, represented by Mr. Shubhendu Saha (valuer registration number IBBI/RV-E/02/2020/112), has experience valuing assets for Embassy Office Parks REIT, Nexus Select REIT, and TVS Infrastructure Trust. These appointments were made in consultation with Axis Trustee Services Limited, the Trustee, and are in accordance with the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.

Key Appointments and Meeting Details

The Trust has convened its First Annual Meeting of the Unitholders for the financial year ended March 31, 2026. The meeting is scheduled for July 10, 2026, at 11:00 Hrs (IST) through Video Conferencing and Other Audio Visual Means, with the venue deemed to be the principal place of business at One BKC, Bandra Kurla Complex, Mumbai. Unitholders will consider and approve the audited standalone and consolidated financial statements, the appointment of the statutory auditors and valuer, and the valuation report of the portfolio as at March 31, 2026.

The remote e-voting period commences on July 7, 2026, at 09:00 HRS (IST) and concludes on July 9, 2026, at 17:00 HRS (IST). The cut-off date for determining unitholder eligibility to vote is July 3, 2026. The facility for joining the meeting will be available on a first-come-first-served basis for at least 1,000 unitholders. The results of e-voting are expected to be announced on or before July 12, 2026.

FY 2025-26 Financial Performance

Knowledge Realty Trust delivered strong financial performance in its first year as a listed entity. The Trust was listed on August 18, 2025, as India's largest REIT by Net Operating Income and the country's most geographically diversified office REIT. The following table summarises key pro forma financial metrics for the period April 1, 2025 to March 31, 2026.

Revenue grew 16% year on year while Net Operating Income increased 18%. The Trust distributed approximately ₹ 21 billion to unitholders during the three quarters following listing, exceeding IPO projections. The Trust crossed a market capitalization of ₹ 500 billion during the year. Finance costs for FY 2025-26 were ₹ 6,819.52 million, comprising interest expense on term loans of ₹ 5,522.53 million, interest expense on debentures of ₹ 690.30 million, and interest expense on lease deposits of ₹ 476.77 million.

Portfolio Overview and Operational Highlights

Knowledge Realty Trust spans 29 assets and 46.5 msf across six cities, serving leading global corporations. The portfolio achieved committed occupancy of 92%, with in-place rents growing 7% year on year to ₹ 97 psf per month. Prevailing market rents stand at approximately ₹ 122 psf per month, indicating significant mark-to-market potential. The Trust completed 3.5 msf of gross leasing during the year with leasing spreads of 26%, and 56% of leasing came from expansion by existing occupiers.

The Trust's portfolio is concentrated in Bengaluru (29% of GAV), Hyderabad (29% of GAV), and Mumbai (32% of GAV), with 95% of GAV in India's best-performing office markets. Under-construction developments in Bengaluru representing approximately 1.2 msf are nearing completion, and construction of a new 1.4 msf office block at Sattva Global City was commenced during the year.

Capital Structure and Debt Management

The Trust strengthened its capital structure through disciplined balance sheet management and strategic refinancing. IPO proceeds were primarily directed towards debt repayment, reducing the loan-to-value ratio from 31% to 18%. Active debt management reduced the blended cost of debt by 140 bps to 7.2% as at March 31, 2026. The Trust raised debt of ₹ 42,000 million during FY 2025-26 at a blended cost of 7.3%.

As of March 31, 2026, the Trust had cash and cash equivalents of ₹ 6,265.53 million, investments of ₹ 2,563.61 million in liquid mutual funds, and other bank balances of ₹ 268.78 million. The Trust issued two series of Non-Convertible Debentures (NCDs) during the year: Series I of ₹ 16,000 million at 7.20% (redeemable September 2028) and Series II of ₹ 10,000 million at 7.54% (redeemable May 2029), both rated CRISIL AAA / ICRA AAA.

Occupier Profile and ESG Highlights

The Trust's portfolio serves over 475 tenants across 20+ sectors, with 74% of gross rents derived from multinational corporations and 45% from Global Capability Centres (GCCs). The top 10 tenants account for 38% of gross rents, reflecting low concentration risk. On the sustainability front, more than 74% of the portfolio is powered by renewable energy, and 76% of the Gross Asset Value is green certified. The Trust achieved a Five-Star GRESB rating with a score of 95/100 for Standing Investments, ranking second among peers in India. The portfolio includes a total rooftop solar capacity of 1,913 kWp across multiple assets, along with 63 MW (AC) of captive solar generation capacity. During FY 2025-26, the shift towards renewable energy enabled the avoidance of approximately 266,128 tCO2e emissions.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE1JAR25012/a425699e5fbd4cc3.pdf

Knowledge Realty Trust has approved a plan to raise up to ₹1000 crore through the issuance of non-convertible debentures (NCDs) and commercial papers. The decision was taken by the Borrowing Committee of Knowledge Realty Office Management Services Private Limited, acting as the Manager to the Trust, on June 17, 2026. This move aims to mobilize funds to support the Trust's financial requirements through debt instruments.

The Committee sanctioned the raising of funds via fresh issuance of listed, rated, secured, redeemable NCDs. These debentures will carry a face value of ₹1,00,000 each and will be issued on a private placement basis. The aggregate principal amount for the NCD issuance is capped at ₹1000 crore, allowing for flexibility in execution across one or more transactions, series, or tranches from eligible investors.

In addition to the NCDs, the Trust also received approval to raise funds through the issuance of listed, rated, and redeemable commercial papers. The aggregate principal amount for the commercial papers is also set at up to ₹1000 crore. Similar to the debentures, these will be issued on a private placement basis, potentially in multiple tranches or series to eligible investors.

The meeting, which commenced at 10:55 A.M. and concluded at 11:15 A.M. on June 17, 2026, was attended by key officials including Ashutosh Pramod Vaidya, the Company Secretary & Compliance Officer. The information regarding the fund-raising approval will be available on the Trust's official website.

Key Details of the Fund Raise