Embassy Office Parks REIT

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Embassy Off.REIT Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Embassy Office Parks REIT

₹ 436 0.19%
21 Aug - close price
embassyofficeparks.com BSE: 542602 NSE: EMBASSY
About

Embassy Office Parks REIT owns, operates and invests in rent or income generating real estate and related assets in India.[1] It is India's first publicly listed REIT and is Asia's largest official REIT by area.[2]

It is a Real Estate Investment Trust (REIT) that owns, operates or finances income producing real estate. It gives all investors access to the benefits of real estate investment with the advantage of investing in publicly traded units.
As per Indian regulations, it is compulsory for the REIT to distribute at least 90% of its cash flows to the unitholders of the trust.[3]

Key Points

Portfolio Overview:[1]
The trust's portfolio comprises 52.5 MSF (43.5 MSFs completed, 6.2 MSFs under construction, 2.8 MSFs future development) spanning across 5 major cities in India with major presence in Bangalore. The portfolio is a mix of 14 commercial offices, 1730 hotel keys and 100 MW solar park. The asset has an occupancy rate of 90% with 8.5 years WALE. It has 10% Mark to Market upside and 67% of the gross rents is from GCCs.

Website BSE NSE - RR
  • Market Cap ₹ 41,336 Cr.
  • Current Price ₹ 436
  • High / Low ₹ 462 / 375
  • Stock P/E 34.5
  • Book Value ₹ 229
  • Dividend Yield 0.05 %
  • ROCE 6.58 %
  • ROE 5.92 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 193%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 4.48% over last 3 years.
  • Earnings include an other income of Rs.2,126 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Real Estate Investment Trusts (REITs)

Part of Nifty REITs & Realty

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
518 534 463 387 0 0 0 0 0 0 0 0 0
9 12 10 -54 11 227 14 97 11 14 13 11 11
Operating Profit 509 522 453 441 -11 -227 -14 -97 -11 -14 -13 -11 -11
OPM % 98% 98% 98% 114%
2 0 0 2 421 382 456 375 428 481 351 913 380
Interest 171 189 181 180 172 166 159 155 175 212 208 216 241
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 341 334 272 263 238 -12 282 123 243 256 130 686 128
Tax % 0% 0% 0% 0% 0% 0% 0% -0% 1% 0% 0% 0% 0%
340 333 272 262 238 -12 282 123 242 256 130 686 128
EPS in Rs 3.58 3.52 2.86 2.76 2.51 -0.13 2.97 1.30 2.55 2.70 1.37 7.24 1.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
1,397 1,485 1,612 0 852 1,221 2,105 2,055 1,901 0 0 0
347 410 527 9 94 305 123 178 40 50 48 49
Operating Profit 1,050 1,075 1,085 -9 758 916 1,982 1,877 1,862 -50 -48 -49
OPM % 75% 72% 67% 89% 75% 94% 91% 98%
204 224 254 0 16 5 8 7 4 1,634 2,174 2,126
Interest 710 695 633 0 285 470 646 602 721 652 810 877
Depreciation 316 324 323 0 0 0 0 0 -64 300 0 0
Profit before tax 229 280 383 -9 489 451 1,344 1,282 1,209 631 1,315 1,200
Tax % 59% 37% 33% 0% 1% 1% 0% 0% 0% 0% 0%
93 177 257 -9 481 447 1,340 1,279 1,207 631 1,314 1,200
EPS in Rs -0.12 6.24 4.72 14.13 13.49 12.73 6.66 13.86 12.66
Dividend Payout % 0% 0% 0% 0% 387% 461% 156% 163% 170% 350% 59%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: %
Compounded Profit Growth
10 Years: 30%
5 Years: 24%
3 Years: 1%
TTM: 89%
Stock Price CAGR
10 Years: %
5 Years: 5%
3 Years: 13%
1 Year: 11%
Return on Equity
10 Years: 4%
5 Years: 5%
3 Years: 4%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 387 428 448 22,904 22,912 28,826 28,826 28,826 28,826 28,826 28,826
Reserves 2,784 2,967 3,030 -9 -878 -2,268 -3,023 -3,769 -4,621 -6,127 -7,132
5,621 6,406 8,555 0 3,902 8,332 7,449 9,466 9,145 8,065 12,114
1,737 1,362 1,428 604 10 49 56 31 19 26 53
Total Liabilities 10,529 11,163 13,461 23,498 25,946 34,939 33,308 34,554 33,369 30,790 33,861
7,926 7,784 8,804 0 0 0 0 0 0 0 0
CWIP 299 651 957 0 0 0 0 0 0 0 0
Investments 761 171 291 18,745 19,080 24,174 23,933 24,626 24,544 24,321 24,864
1,543 2,557 3,410 4,753 6,866 10,765 9,375 9,928 8,825 6,468 8,997
Total Assets 10,529 11,163 13,461 23,498 25,946 34,939 33,308 34,554 33,369 30,790 33,861

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
925 987 1,251 3 -50 -33 -40 -48 -57 -42 -53
-211 -951 -2,536 -468 -5,979 -5,259 3,466 668 3,148 3,393 -714
-657 91 1,163 4,747 2,032 5,725 -3,623 -612 -3,101 -3,869 920
Net Cash Flow 58 127 -123 4,282 -3,997 433 -197 8 -9 -518 153
Free Cash Flow 414 209 -708 3 -50 -33 -40 -48 -57 -42 -53
CFO/OP 94% 101% 127% -33% -6% -3% -2% -2% -3% 83% 111%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 10 9 9 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 10 9 9 0 0 0 0 0
Working Capital Days -195 29 127 24 30 27 -709 -553
ROCE % 10% 9% -0% 3% 3% 6% 6% 6% 4% 7%

Insights

In beta
Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Total Leasing Volume
msf (million square feet)

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Completed Office Area
msf (million square feet)
Mark-to-Market Potential
%
Number of Occupiers
Count
Portfolio Occupancy by Area
%
WALE (Weighted Average Lease Expiry)
Years
Re-leasing Spreads
%
GCC Share of Leasing
%

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Shareholding Pattern

Numbers in percentages

2 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

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