Knowledge Realty Trust Publishes Q3 FY26 Earnings Conference Call Transcript
Knowledge Realty Trust released the complete transcript of its Q3 FY26 earnings conference call conducted on February 5, 2026. The call featured comprehensive discussions by senior management on the trust's strong quarterly performance including 21% revenue growth, stable 92% occupancy, and operational achievements with detailed Q&A addressing investor queries on distributions, leasing pipeline, and growth strategy.

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Knowledge Realty Trust , India's largest office REIT by market capitalization, has published the transcript of its earnings conference call for Q3 FY26 results held on February 5, 2026. The call was conducted to discuss the trust's financial performance for the quarter ended December 31, 2025, featuring detailed insights from senior management on operational achievements and market outlook.
Management Participation and Key Highlights
The earnings call was led by CEO Shirish Godbole, COO Quaiser Parvez, CFO Neeraj Toshniwal, and VP-Investor Relations Senthil Kumar. The management team provided comprehensive updates on the trust's strong quarterly performance, including 21% year-on-year revenue growth and 19% NOI increase to Rs. 10,407 million.
| Call Details: | Information |
|---|---|
| Date: | February 5, 2026 |
| Time: | 4:00 PM IST |
| Quarter Discussed: | Q3 FY26 (ended December 31, 2025) |
| Distribution per Unit: | Rs. 1.57 |
| Total Distribution: | Rs. 6,953 million |
Operational Performance Discussion
During the call, management highlighted the trust's robust leasing momentum with 0.6 million square feet leased in Q3 FY26, bringing cumulative nine-month leasing to 2.4 million square feet. Portfolio occupancy remained stable at 92% with strong tenant satisfaction evidenced by existing occupier expansions contributing over half of year-to-date leasing.
| Leasing Metrics: | Performance |
|---|---|
| Q3 FY26 Leasing: | 0.6 million sq ft |
| Nine-month Leasing: | 2.4 million sq ft |
| Average Spread YTD: | 25% |
| Mark-to-Market Potential: | 22% |
Financial Management and Market Recognition
The management discussed the trust's improved debt profile with average cost reducing from 7.44% to 7.25%, representing a 19 basis points improvement. The call also covered the trust's inclusion in the FTSE EPRA Nareit Global REITs Index in December 2025 and doubling of unitholder base since listing in August 2025.
Q&A Session Insights
The interactive session addressed investor queries on distribution sustainability, occupancy conversion timelines, upcoming lease renewals, and acquisition strategies. Management confirmed meeting FY26 NDCF projections and provided guidance on committed versus economic occupancy gap narrowing from 9% to 6%.
| Key Metrics Discussed: | Details |
|---|---|
| NAV: | Rs. 118 |
| Discount Rate Applied: | 11.48% |
| LTV Ratio: | 18% |
| Q4 Expiry Renewals: | 42% already completed |
The comprehensive transcript provides detailed insights into the trust's operational strategy, financial performance, and growth outlook, reinforcing its position as India's leading office REIT with strong fundamentals and visible growth drivers.
Historical Stock Returns for Knowledge Realty Trust
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.60% | -1.71% | -1.25% | +15.64% | +16.53% | +16.53% |


































