Embassy Office Parks REIT

Embassy Office Parks REIT

₹ 350 -1.79%
21 May 1:05 p.m.
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[1]
The trust's portfolio comprises various commercial office space, hospitality, and renewable energy assets. The REIT has strong portfolio of Grade-A commercial offices with a leasable area of 35.80 million square feet (msf) spread across Bengaluru, Mumbai, Pune, and National Capital Region (NCR).
Portfolio - As of Q3FY24, EOPR had 45.4 msf of commercial space area, of which 35.8 msf is completed and 84% is occupied, 6.9 msf of under-construction space, while 2.8 msf is proposed development. The commercial space is diversified in Bengaluru, Mumbai, Pune, and the NCR region. EOPR also has completed hotels with an inventory of 1,096 keys, under construction hotels of 518 keys in Bengaluru, and a 100-MW solar park in Bellary, Karnataka. The commercial office space portfolio contributes nearly 90% of the REIT’s total revenue.[2]

  • Market Cap 33,147 Cr.
  • Current Price 350
  • High / Low 399 / 281
  • Stock P/E 35.3
  • Book Value 246
  • Dividend Yield 6.08 %
  • ROCE 5.41 %
  • ROE 3.94 %
  • Face Value 300

Pros

  • Stock is providing a good dividend yield of 6.00%.
  • Company has been maintaining a healthy dividend payout of 304%

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -23.6%
  • Promoter holding is low: 7.69%
  • Tax rate seems low
  • Company has a low return on equity of 3.06% over 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
764 761 757 764 770 855 889 893 895 943 926 966 981
307 166 165 159 175 206 212 210 247 234 220 228 234
Operating Profit 457 595 592 605 596 649 677 682 649 709 706 738 747
OPM % 60% 78% 78% 79% 77% 76% 76% 76% 72% 75% 76% 76% 76%
30 31 35 30 38 25 20 35 29 43 32 45 42
Interest 228 207 221 208 193 231 246 245 254 255 262 278 292
Depreciation 198 196 199 199 202 220 279 283 347 229 236 252 168
Profit before tax 62 223 206 228 239 223 172 190 77 268 240 253 328
Tax % 24% 8% 5% 9% -17% 20% 25% 14% 54% 13% 10% 9% 14%
47 205 196 208 279 179 128 163 35 234 217 230 283
EPS in Rs 0.49 2.16 2.07 2.20 2.95 1.89 1.36 1.72 0.37 2.47 2.29 2.43 2.99
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 2,193 2,457 3,053 3,532 3,816
9 655 602 663 874 831
Operating Profit -9 1,538 1,855 2,390 2,658 2,984
OPM % 70% 75% 78% 75% 78%
0 168 115 132 109 161
Interest 0 382 645 829 976 1,087
Depreciation 0 528 571 796 1,128 969
Profit before tax -9 796 754 896 662 1,089
Tax % 0% 4% 7% 1% 24% 11%
-9 766 698 888 506 964
EPS in Rs -0.12 9.92 7.37 9.37 5.34 10.17
Dividend Payout % 0% 243% 296% 235% 412% 265%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 16%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 152%
3 Years: 11%
TTM: 90%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 3%
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 22,904 22,912 28,826 28,826 28,826 28,826
Reserves -9 -594 -1,733 -2,940 -4,458 -5,552
7,847 5,746 10,656 12,136 14,842 16,959
5,953 5,426 7,331 7,164 7,190 7,126
Total Liabilities 36,695 33,490 45,079 45,187 46,400 47,360
26,756 27,007 37,428 38,878 38,466 39,921
CWIP 502 411 1,371 710 1,267 1,804
Investments 2,552 3,636 2,412 2,363 3,124 2,964
6,885 2,436 3,868 3,235 3,543 2,671
Total Assets 36,695 33,490 45,079 45,187 46,400 47,360

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3 1,696 1,870 2,367 2,566 2,591
211 -2,148 -3,041 -1,182 -1,468 -1,180
4,747 -4,197 1,777 -1,514 -869 -1,217
Net Cash Flow 4,961 -4,650 606 -329 229 194

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 4 7 7 5 3
Inventory Days
Days Payable
Cash Conversion Cycle 4 7 7 5 3
Working Capital Days -176 -148 -147 -131 -116
ROCE % 4% 4% 5% 4% 5%

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

Documents