Knowledge Realty Trust , a prominent player in the real estate investment sector, has announced a significant addition to its leadership team. The company's board has approved the appointment of Ms. Geetha Ravichandran as an Additional Non-Executive Independent Director, marking a strategic move to enhance its governance structure.

Key Appointment Details

Professional Background

Ms. Ravichandran brings a wealth of experience to her new role:

• Former Indian Revenue Service (IRS) officer from the 1987 batch
• Retired as Principal Chief Commissioner of Mumbai in 2023
• Extensive expertise in various tax department verticals, including:
  • Assessment
  • Appeals
  • Tribunal representation
  • International Tax
  • Investigation

Current Engagements

• Serves on the board of Tata Capital Limited as an Independent Director
• Holds board positions in several other companies

Additional Accomplishments

• Columnist writing on sustainability, cryptocurrency, and the impact of social media on society
• Published author with three books of poetry to her credit

This appointment is part of Knowledge Realty Trust's ongoing efforts to strengthen its corporate governance and bring diverse perspectives to its board. Ms. Ravichandran's extensive experience in the public sector, combined with her current roles in the private sector, is expected to provide valuable insights to the Trust's operations and strategic decisions.

The appointment is set to take effect from December 10, 2025, pending shareholder approval. This move aligns with the Trust's commitment to maintaining a robust and independent board structure, which is crucial for the effective management and growth of its real estate investment portfolio.

Investors and stakeholders will be keenly watching how Ms. Ravichandran's expertise in tax matters and her broader perspective on contemporary issues like sustainability and technology will contribute to the Trust's future direction and governance practices.

Knowledge Realty Trust , India's largest REIT by market capitalization, has reported robust financial results for the second quarter of fiscal year 2026, marking a strong debut since its listing in August 2025.

Financial Highlights

The REIT delivered impressive quarterly results, with revenue reaching Rs. 2,202.00 crores and Net Operating Income (NOI) growth of 20% year-on-year. The NOI margin stood at a healthy 89%, reflecting the REIT's operational efficiency.

Distribution Announcement

Knowledge Realty Trust announced its first distribution of Rs. 1.56 per unit. This distribution is derived from a Net Distributable Cash Flow (NDCF) of Rs. 690.00 crores, demonstrating the REIT's commitment to delivering value to its investors.

Occupancy and Leasing Performance

The REIT achieved a strong portfolio occupancy of 92%, up from 88.6% in the previous year. This improvement was driven by successful gross leasing of 1.8 million square feet during the first half of FY2026. The management expects to reach 94% occupancy by the end of the fiscal year.

Debt Management and Financial Position

Knowledge Realty Trust has strategically managed its debt profile, reducing leverage from 31% to 18% using IPO proceeds. The REIT successfully raised Rs. 1,600.00 crores through AAA-rated listed non-convertible debentures at a competitive coupon rate of 7.2%. Overall, the REIT's cost of debt has decreased to 7.4%, resulting in a 120 basis points reduction in interest expenses.

Market Performance

Since its listing in August, Knowledge Realty Trust's stock has appreciated by over 18%, reflecting investor confidence in the REIT's portfolio and management.

Future Outlook

The REIT is well-positioned for growth, with multiple levers at its disposal:

1. A mark-to-market potential of 22% on its existing leases
2. 1.2 million square feet of under-construction assets nearing completion
3. 6.7 million square feet of Right of First Offer (ROFO) assets from its sponsor
4. Potential for inorganic growth through acquisitions, leveraging its low loan-to-value ratio

Management Commentary

Shirish Godbole, CEO of Knowledge Realty Trust, stated, "We are delighted to report a strong and steady start to our journey as a publicly listed entity. Our focus on delivering sustainable and long-term returns is evident in our robust financial performance and strategic initiatives."

Quaiser Parvez, COO, added, "Our leasing momentum continues to be underpinned by strong re-leasing spreads and client confidence across key assets. We are seeing continued demand from both Global Capability Centers (GCCs) and domestic occupiers."

Knowledge Realty Trust's strong performance in Q2 FY2026 sets a positive tone for its future growth and reinforces its position as a leading player in India's REIT market.