Embassy Office Parks REIT

₹ 361 -3.61%
18 Aug - close price
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

Assets Portfolio
The trust's portfolio primarily comprises of various office parks and office buildings. It also include strategic amenities like hotels, and also a solar park.[1]
Presently, it owns and operates 8 office parks and 4 prime city-center offices with a total area available for lease of ~42.4 million sq. ft. across various cities such as Bangalore, Pune, NCR & Mumbai.[2][3]
Its assets also include 4 hotels with ~1,600 hotel rooms and a 100 MW solar project.[4][5]
Out of the total area, ~5.7 million sq. ft is in the development pipeline.[6]

  • Market Cap 34,211 Cr.
  • Current Price 361
  • High / Low 407 / 327
  • Stock P/E 25.1
  • Book Value 271
  • Dividend Yield 0.00 %
  • ROCE 5.82 %
  • ROE 5.09 %
  • Face Value 300

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 50.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 335%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 3.07% for last 3 years.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
183 223 214 231 237 241 234 508 548 556 527 474 544
6 7 13 68 19 57 -3 232 12 96 7 8 9
Operating Profit 178 216 201 163 219 184 237 277 536 461 520 466 535
OPM % 97% 97% 94% 71% 92% 76% 101% 54% 98% 83% 99% 98% 98%
1 5 5 5 0 0 2 2 2 2 2 2 2
Interest 47 70 79 89 91 98 121 161 172 187 159 128 147
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 132 152 126 79 128 87 118 118 366 275 363 341 390
Tax % 0% 3% 2% 1% 1% 1% 0% 1% 0% 0% 1% 0% 0%
Net Profit 131 148 124 78 127 86 118 117 365 274 361 340 389
EPS in Rs 1.70 1.91 1.61 1.01 1.64 1.11 1.24 1.24 3.85 2.89 3.81 3.58 4.10

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,397 1,485 1,612 0 852 1,221 2,105 2,102
347 410 527 9 94 305 123 121
Operating Profit 1,050 1,075 1,085 -9 758 916 1,982 1,981
OPM % 75% 72% 67% 89% 75% 94% 94%
204 224 254 0 16 5 8 8
Interest 710 695 633 0 285 470 646 621
Depreciation 316 324 323 0 0 0 0 0
Profit before tax 229 280 383 -9 489 451 1,344 1,368
Tax % 59% 37% 33% 0% 1% 1% 0%
Net Profit 93 177 257 -9 481 447 1,340 1,364
EPS in Rs -0.12 6.24 4.72 14.13 14.38
Dividend Payout % 0% 0% 0% 0% 387% 461% 156%
Compounded Sales Growth
10 Years: %
5 Years: 7%
3 Years: %
TTM: 37%
Compounded Profit Growth
10 Years: %
5 Years: 50%
3 Years: 423%
TTM: 99%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 4%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Jun 2022
388 429 449 22,904 22,912 28,826 28,826 28,826
Reserves 2,784 2,967 3,030 -9 -878 -2,268 -3,023 -3,133
5,620 6,405 8,554 0 3,902 8,332 7,449 8,450
1,738 1,362 1,429 604 10 49 56 22
Total Liabilities 10,529 11,163 13,461 23,498 25,946 34,939 33,308 34,165
7,926 7,784 8,804 0 0 0 0 0
CWIP 299 651 957 0 0 0 0 0
Investments 761 171 291 18,745 19,080 24,174 23,933 24,868
1,543 2,557 3,410 4,753 6,866 10,765 9,375 9,297
Total Assets 10,529 11,163 13,461 23,498 25,946 34,939 33,308 34,165

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
925 987 1,251 3 -50 -33 -40
-211 -951 -2,536 -468 -5,979 -5,259 3,466
-657 91 1,163 4,747 2,032 5,725 -3,623
Net Cash Flow 58 127 -123 4,282 -3,997 433 -197

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 10 9 9 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 10 9 9 0 0 0
Working Capital Days -195 29 127 24 30 27
ROCE % 10% 9% -0% 3% 3% 6%

Shareholding Pattern

Numbers in percentages

2 recently

Shareholding pattern is currently not available for this company.

Documents

Concalls