Embassy REIT Sets Leasing Records in FY2025 First Half

Embassy REIT has achieved remarkable leasing performance in the first half of FY2025, leasing 4 million square feet and raising leasing guidance to 6.5 million square feet. With 90% occupancy by value and significant growth in revenue, the REIT continues to solidify its market position in India's commercial real estate sector.

Bengaluru, Karnataka - Embassy Office Parks REIT, Asia's largest office REIT, has reported an impressive leasing activity for the first half of FY2025, achieving a record 4 million square feet in leased space. This performance has prompted revisions in their annual leasing guidance from 5.6 to 6.5 million square feet.

The REIT's portfolio demonstrated robust occupancy rates, with an impressive 90% by value, reflecting strong demand in major cities like Bengaluru, Mumbai, and Chennai. CEO Aravind Maiya expressed confidence in their ability to maintain this momentum, as the company saw a 12% increase in both revenue and net operating income.

Embassy REIT's strategic growth was underscored by a significant debt raise of Rs 2,000 crores to refinance upcoming non-convertible debenture maturities. The portfolio also expanded with 0.6 million square feet of office space delivered in Bengaluru, pre-leased to global banking leader ANZ.

(With inputs from agencies.)