Embassy REIT Delivers Robust 17% YoY Revenue Growth in Q3 FY2026; Evaluates Acquisition of Embassy Zenith, a 0.4 MSF Prime Office Asset in Bengaluru

By Business Wire India On Feb 6, 2026

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2025.

Business Wire India

Leased 1.1 million square feet (msf) across 22 deals in Q3 FY2026, taking total leasing to 4.6 msf year-to-date
Delivered strong double-digit YoY growth, reporting highest-ever Revenue (up 17% YoY) and Net Operating Income (up 19% YoY)
Declared distributions of Rs. 613 crores or Rs. 6.47 per unit for Q3 FY2026, up 10% YoY
Received an invitation to offer to acquire Embassy Zenith, a 0.4 msf prime office tower in Bengaluru, fully leased to a multi-trillion-dollar global technology company
Launched the third redevelopment at Embassy Manyata for 0.8 msf at a 23% yield on cost; total development pipeline stands at 7.6 msf
Expanded hospitality portfolio with a proposed addition of 116-Key Hotel at Embassy TechZone, Pune

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT‘), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2025.

Amit Shetty, Chief Executive Officer of Embassy REIT, said,

“Q3 FY2026 marked another strong quarter for Embassy REIT, underpinned by sustained leasing momentum, robust GCC demand across our gateway markets, and disciplined financial execution. We delivered 4.6 msf of leasing year-to-date, reported our highest-ever Revenue and NOI, announced our first third-party acquisition and continued to enhance distributions for our unitholders. The invitation to offer for Embassy Zenith reflects our focus on acquiring high-quality, income-accretive assets that strengthen our world-class portfolio and create long-term value.”

The Board of Directors of Embassy Office Parks Management Services Private Limited (EOPMSPL), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 613 crores or Rs. 6.47 per unit for the quarter. The record date for the Q3 FY2026 distribution is February 11, 2026, and the distribution will be paid on or before February 18, 2026.

Business Highlights

Leased 1.1 msf across 22 deals, including 0.8 msf of new leases at 17% re-leasing spreads; signed at an average 5% premium to market rents, with Bengaluru contributing over two-thirds of total leasing
Strong traction in Chennai from large global companies, anchoring 42% of the REIT’s development pipeline
Overall portfolio occupancy stood at 94% by value, with 3 out of 5 cities at or above 95% occupancy

Financial Highlights

Grew Revenue from Operations by 17% YoY to Rs. 1,193 crores and Net Operating Income (NOI) by 19% YoY to Rs. 985 crores
Delivered quarterly distributions of Rs. 613 crores or Rs. 6.47 per unit, up 10% YoY
Raised Rs. 400 crores through a commercial paper at an effective rate of 6.44% per annum. Reduced in-place cost of debt by 61 bps (over 9 months) to 7.29%
Hotel segment NOI grew by 13% YoY, driven by 100 bps increase in occupancy to 60% as well as 11% growth in ADR

Operational & Growth Highlights

Delivered 0.4 msf new development at Embassy Splendid TechZone in Chennai, 100% leased to a global healthcare firm
Launched third redevelopment project of 0.8 msf at Embassy Manyata in Bengaluru at a 23% yield on cost
Proposed addition of a 116-key hotel at Embassy TechZone, Pune, to enhance park ecosystem
Announced third-party acquisition of a 0.3 msf marquee office asset at Embassy GolfLinks in Bengaluru
Completed Rs. 530 crore divestment at Embassy Manyata in Bengaluru
Delivered ~25% total returns in CY2025, while expanding the unitholder base to over 125,000, up from 4,000 at IPO

Investor Materials and Quarterly Investor Call Details

Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) unaudited standalone and consolidated financial results for the nine months ended December 31, 2025 (ii) an earnings presentation covering Q3 FY2026 results and, (iii) supplemental operating and financial data book that conforms with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.

Embassy REIT will host a conference call on February 9, 2026 at 8:30 hours Indian Standard Time to discuss the Q3 FY2026 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.

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