Knowledge Realty Trust
Knowledge Realty Trust is the largest office Real Estate Investment Trust (REIT) in India, backed by Blackstone and Sattva Group, with a diverse portfolio of 30 high-quality office properties across six major Indian cities, including Hyderabad, Mumbai, and Bengaluru. The REIT, which was established in 2025, boasts a significant Gross Asset Value (GAV) of approximately Rs 62,000 crore and serves a prestigious tenant mix of multinational corporations and leading domestic companies
- Market Cap ₹ 53,204 Cr.
- Current Price ₹ 120
- High / Low ₹ 125 / 103
- Stock P/E 167
- Book Value ₹ 102
- Dividend Yield 1.29 %
- ROCE 13.2 %
- ROE 14.0 %
- Face Value ₹ 100
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.17 times its book value
Cons
- Company has low interest coverage ratio.
- Company's cost of borrowing seems high
* 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)
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 2,900 | 3,339 | 3,930 | |
| 622 | 737 | 830 | |
| Operating Profit | 2,279 | 2,603 | 3,100 |
| OPM % | 79% | 78% | 79% |
| 215 | 225 | -157 | |
| Interest | 1,533 | 1,693 | 1,746 |
| Depreciation | 593 | 588 | 381 |
| Profit before tax | 367 | 547 | 816 |
| Tax % | 41% | 38% | 73% |
| 218 | 336 | 223 | |
| EPS in Rs | |||
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 18% |
| Compounded Profit Growth | |
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| TTM: | -5% |
| Stock Price CAGR | |
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| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 257 | 262 | 271 | 44,200 |
| Reserves | 960 | 2,171 | 1,845 | 1,113 |
| 20,485 | 19,766 | 19,797 | 2,992 | |
| 2,651 | 2,498 | 2,818 | 159 | |
| Total Liabilities | 24,353 | 24,697 | 24,731 | 48,464 |
| 20,115 | 20,449 | 20,376 | 0 | |
| CWIP | 0 | 3 | 9 | 0 |
| Investments | 1,680 | 1,135 | 681 | 40,009 |
| 2,559 | 3,110 | 3,664 | 8,455 | |
| Total Assets | 24,353 | 24,697 | 24,731 | 48,464 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 2,234 | 2,095 | 2,723 | |
| -729 | -503 | -480 | |
| -1,487 | -1,528 | -2,298 | |
| Net Cash Flow | 18 | 64 | -55 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 19 | 16 | 15 |
| Inventory Days | |||
| Days Payable | |||
| Cash Conversion Cycle | 19 | 16 | 15 |
| Working Capital Days | -460 | -218 | -125 |
| ROCE % | 10% | 13% |
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
2d - Borrowing Committee meeting on 03 December 2025 to consider raising funds and issuing securities/debt; trading window closed.
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Reg 23(5)(i): Disclosure of material issue
2d - Borrowing Committee meeting on 3 Dec 2025 to consider raising funds, issuing securities/debt; trading window closed.
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Reg 23(5)(i): Disclosure of material issue
19 Nov - Knowledge Realty Trust management met institutional investors on 19 Nov 2025 (one-on-one and JM Financial conference meetings).
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Reg 23(5)(i): Disclosure of material issue
18 Nov - One-on-one in-person meeting with institutional investor on 18 November 2025.
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Reg 23(5)(i): Disclosure of material issue
14 Nov - H1 FY2025-26 report filed for period ended 30 Sep 2025; revenue ₹22,019m, NOI ₹19,544m, distribution ₹6,900m