Embassy Office Parks REIT
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]
- Market Cap ₹ 35,037 Cr.
- Current Price ₹ 370
- High / Low ₹ 399 / 281
- Stock P/E 48.9
- Book Value ₹ 248
- Dividend Yield 4.35 %
- ROCE 4.20 %
- ROE 1.97 %
- Face Value ₹ 300
Pros
- Stock is providing a good dividend yield of 4.35%.
- Company has been maintaining a healthy dividend payout of 314%
Cons
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -23.6%
- Promoter holding is low: 7.69%
- Company has a low return on equity of 2.70% 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.
Peer comparison
Sector: Real Estate Investment Trusts Industry: Construction
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|
0 | 2,193 | 2,457 | 3,053 | 3,532 | 3,730 | |
9 | 655 | 602 | 663 | 874 | 928 | |
Operating Profit | -9 | 1,538 | 1,855 | 2,390 | 2,658 | 2,801 |
OPM % | 70% | 75% | 78% | 75% | 75% | |
0 | 168 | 115 | 132 | 109 | 149 | |
Interest | 0 | 382 | 645 | 829 | 976 | 1,049 |
Depreciation | 0 | 528 | 571 | 796 | 1,128 | 1,064 |
Profit before tax | -9 | 796 | 754 | 896 | 662 | 838 |
Tax % | 0% | 4% | 7% | 1% | 24% | |
-9 | 766 | 698 | 888 | 506 | 716 | |
EPS in Rs | -0.12 | 9.92 | 7.37 | 9.37 | 5.34 | 7.56 |
Dividend Payout % | 0% | 243% | 296% | 235% | 412% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 17% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | -12% |
TTM: | -4% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 4% |
1 Year: | 20% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 3% |
Last Year: | 2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|
Equity Capital | 22,904 | 22,912 | 28,826 | 28,826 | 28,826 | 28,826 |
Reserves | -9 | -594 | -1,733 | -2,940 | -4,458 | -5,049 |
7,847 | 5,746 | 10,656 | 12,136 | 14,842 | 15,631 | |
5,953 | 5,426 | 7,331 | 7,164 | 7,190 | 7,186 | |
Total Liabilities | 36,695 | 33,490 | 45,079 | 45,187 | 46,400 | 46,594 |
26,756 | 27,007 | 37,428 | 38,878 | 38,466 | 40,207 | |
CWIP | 502 | 411 | 1,371 | 710 | 1,267 | 113 |
Investments | 2,552 | 3,636 | 2,412 | 2,363 | 3,124 | 3,029 |
6,885 | 2,436 | 3,868 | 3,235 | 3,543 | 3,245 | |
Total Assets | 36,695 | 33,490 | 45,079 | 45,187 | 46,400 | 46,594 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
3 | 1,696 | 1,870 | 2,367 | 2,566 | |
211 | -2,148 | -3,041 | -1,182 | -1,468 | |
4,747 | -4,197 | 1,777 | -1,514 | -869 | |
Net Cash Flow | 4,961 | -4,650 | 606 | -329 | 229 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|
Debtor Days | 4 | 7 | 7 | 5 | |
Inventory Days | |||||
Days Payable | |||||
Cash Conversion Cycle | 4 | 7 | 7 | 5 | |
Working Capital Days | -176 | -148 | -147 | -131 | |
ROCE % | 4% | 4% | 5% | 4% |
Documents
Announcements
Annual reports
Concalls
-
Feb 2024Transcript PPT
-
Oct 2023Transcript PPT REC
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT
-
Jan 2023TranscriptPPT
-
Nov 2022TranscriptNotesPPT
-
Oct 2022TranscriptPPT
-
Jul 2022TranscriptPPT
-
May 2022TranscriptPPT
-
Feb 2022TranscriptPPT
-
Nov 2021TranscriptPPT
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]