Embassy Office Parks REIT

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

Embassy Office Parks REIT

₹ 442 1.09%
03 Aug 10:26 a.m.
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 ₹ 41,938 Cr.
  • Current Price ₹ 442
  • High / Low ₹ 462 / 375
  • Stock P/E 171
  • Book Value ₹ 219
  • Dividend Yield 0.05 %
  • ROCE 5.61 %
  • ROE 1.26 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 833%

Cons

  • Company has low interest coverage ratio.
  • Promoter holding is low: 7.69%
  • Company has a low return on equity of 4.13% over last 3 years.
  • Promoter holding has decreased over last 3 years: -28.1%

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
943 926 966 981 934 997 1,022 1,086 1,060 1,124 1,193 1,205 1,241
234 220 228 234 230 370 258 776 239 256 277 302 282
Operating Profit 709 706 738 747 704 628 763 310 821 868 917 903 959
OPM % 75% 76% 76% 76% 75% 63% 75% 29% 77% 77% 77% 75% 77%
43 32 45 42 71 84 58 44 48 64 228 46 50
Interest 255 262 278 292 309 328 344 347 372 384 365 374 400
Depreciation 229 236 252 168 266 278 295 302 290 296 291 390 309
Profit before tax 268 240 253 328 200 106 182 -295 207 252 489 185 300
Tax % 13% 10% 9% 14% 11% -1,348% 13% -18% 25% 8% 22% 333% 35%
234 217 230 283 179 1,530 158 -243 155 232 381 -430 195
EPS in Rs 2.47 2.29 2.43 2.99 1.89 16.14 1.67 -2.56 1.64 2.45 4.02 -4.54 2.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
0 2,193 2,457 3,053 3,532 3,816 4,039 4,582 4,763
9 655 602 663 874 915 989 1,073 1,116
Operating Profit -9 1,538 1,855 2,390 2,658 2,901 3,050 3,509 3,647
OPM % 70% 75% 78% 75% 76% 76% 77% 77%
0 168 115 132 109 161 255 385 388
Interest 0 382 645 829 976 1,087 1,329 1,495 1,523
Depreciation 0 528 571 796 1,128 885 1,783 1,266 1,286
Profit before tax -9 796 754 896 662 1,089 193 1,134 1,226
Tax % 0% 4% 7% 1% 24% 11% -742% 70%
-9 766 698 888 506 964 1,624 339 379
EPS in Rs -0.12 9.92 7.37 9.37 5.34 10.17 17.14 3.57 3.99
Dividend Payout % 0% 243% 296% 235% 412% 213% 136% 2,150%
Compounded Sales Growth
10 Years: %
5 Years: 13%
3 Years: 9%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: -17%
3 Years: -18%
TTM: -85%
Stock Price CAGR
10 Years: %
5 Years: 4%
3 Years: 13%
1 Year: 12%
Return on Equity
10 Years: %
5 Years: 4%
3 Years: 4%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 22,904 22,912 28,826 28,826 28,826 28,826 28,826 28,826
Reserves -9 -594 -1,733 -2,940 -4,458 -5,552 -6,065 -8,046
7,847 5,746 10,656 12,136 14,842 16,959 19,957 22,535
5,953 5,426 7,331 7,164 7,190 7,126 6,217 7,067
Total Liabilities 36,695 33,490 45,079 45,187 46,400 47,360 48,936 50,382
26,756 27,007 37,428 38,878 38,466 39,921 41,792 43,233
CWIP 502 411 1,371 710 1,267 1,804 2,086 1,652
Investments 2,552 3,636 2,412 2,363 3,124 2,964 3,020 2,928
6,885 2,436 3,868 3,235 3,543 2,671 2,038 2,569
Total Assets 36,695 33,490 45,079 45,187 46,400 47,360 48,936 50,382

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3 1,696 1,870 2,367 2,566 2,591 3,079 3,522
211 -2,148 -3,041 -1,182 -1,468 -1,180 -1,635 -1,649
4,747 -4,197 1,777 -1,514 -869 -1,217 -1,792 -1,567
Net Cash Flow 4,961 -4,650 606 -329 229 194 -348 307
Free Cash Flow 3 512 1,103 966 1,473 976 1,332 2,200
CFO/OP -33% 120% 104% 106% 101% 93% 106% 107%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 4 7 7 5 3 7 8
Inventory Days
Days Payable
Cash Conversion Cycle 4 7 7 5 3 7 8
Working Capital Days -176 -152 -150 -585 -473 -641 -533
ROCE % 4% 4% 5% 4% 5% 4% 6%

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

7 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

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