Embassy Office Parks REIT News and Updates

Name: Latest research reports of Embassy Office Parks REIT authored by Axis Direct and published by - Trendlyne research reports.
Item: Embassy Office Parks REIT
Rating: 5
Author: Axis Direct

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Embassy Office Parks REIT

02 May 2023

381.94

0.51%

Embassy Office Standalone March 2023 Net Sales at Rs 539.13 crore, up 13.68% Y-o-Y

Moneycontrol

Axis Direct increased Buy price target of Embassy Office Parks REIT to 450.0 on 30 Apr, 2025.

Embassy Office Parks REIT

02 May 2023

381.94

0.51%

Result Update:Embassy Off.REIT

Buy: Embassy Office Parks REIT

Target

Axis Direct

Company Outlook & Guidance: The distribution growth did not flow through due to higher interest costs and the refinancing of zero-coupon bonds. Citing a lack of regulatory and macroeconomic clarity, the management has refrained from giving any guidance.

Embassy Office Parks REIT is trading above all available SMAs

Embassy Office Parks REIT

28 Apr 2023

381.94

0.51%

Foggy outlook for FY24, recovery to be gradual

Buy: Embassy Office Parks REIT

Target

ICICI Securities Limited

The Embassy Office Parks REIT (Embassy REIT) delivered a resilient Q4FY23 performance with same-store office portfolio occupancy levels remaining flattish QoQ at 87% while NOI declined 4% QoQ owing to one-time repairs and maintenance costs.

Embassy Office Parks REIT is trading above all available SMAs

Embassy Office Parks REIT

27 Apr 2023

381.94

0.51%

Embassy REIT clocks 11% growth in net income, declares Rs 2,058 cr dividend

Business Standard

Embassy Office Parks REIT on Thursday reported an 11 per cent increase in its net operating income at Rs 2,766.3 crore during the last fiscal year and declared distribution of Rs 2,057.9 crore dividend to unitholders. Its net operating income stood at Rs 2491.1 crore in the 2021-22 fiscal. The board of directors of Embassy Office Parks Management Services Pvt Ltd, Manager to Embassy REIT, at its board meeting declared a distribution of Rs 532 crore or Rs 5.61 per unit for the fourth quarter of the last fiscal. The distributions of money to unitholders are in the form of dividend, interest and repayment of SPV level debt. "With this, the cumulative distribution for FY'23 totals Rs 2,058 crore or Rs 21.71 per unit. The record date for the Q4 FY2023 distribution is May 6, 2023, and the distribution will be paid on or before May 12, 2023. The company's revenue from operation rose to Rs 3,419.5 crore in the 2022-23 fiscal, from Rs 2,962.6 crore in the previous year. Embassy REIT CEO .

Embassy Office Parks.. has an average target of 434.33 from 3 brokers.

Embassy REIT CEO Vikaash Khdloya resigns, Aravind Maiya to become new CEO

Business Standard | 27 Apr 2023

Embassy Office Parks REIT

28 Mar 2023

381.94

0.51%

Valuation-neutral Bengaluru asset acquisition

Buy: Embassy Office Parks REIT

ICICI Securities Limited

On 28th Mar’23, the Board of Directors of Embassy Office Parks REIT (Embassy REIT) has approved the acquisition of an under-development Sponsor asset in North Bengaluru of 1.4msf for an EV of Rs3.3bn (proposed acquisition cost is at a 4.5% discount to average valuation of two independent valuers).

Embassy Office Parks REIT is trading above all available SMAs

Embassy Office Parks REIT

13 Mar 2023, 07:22PM

381.94

0.51%

Embassy Office Parks REIT to invest Rs 300 crore on green initiatives

Business Standard

Embassy Office Parks REIT on Monday said it has committed over Rs 300 crore for ongoing green initiatives across its commercial projects. In a regulatory filing, Embassy REIT informed that the company has "committed over Rs 300 crore to its ESG (environmental, social, and governance) programme across its 43.6 million square feet pan-India portfolio". Embassy REIT said it has recently commissioned the first phase of its 20 MW solar rooftop project. This project aims to generate 30 million units of solar power, offsetting around 25,000 tonnes of CO2 emissions. As part of its 2040 net zero carbon operations goal, Embassy REIT aims to achieve 75 per cent renewable energy usage by 2025. Apart from the existing 100 MW solar plant, the REIT strategically plans to more than double its current 120 MW onsite and offsite renewable energy capacity by installing new solar plants across Bengaluru and NCR. This renewable energy capacity enhancement will be through additional capital investments

Axis Direct increased Buy price target of Embassy Office Parks REIT to 450.0 on 30 Apr, 2025.

Embassy Office Parks REIT

30 Jan 2023

381.94

0.51%

Result Update:Embassy Off.REIT

Buy: Embassy Office Parks REIT

Target

Axis Direct

We recommend a BUY rating on the stock.

Embassy Office Parks.. has an average target of 434.33 from 3 brokers.

Embassy Office Parks REIT

27 Jan 2023

381.94

0.51%

Keep the faith

Buy: Embassy Office Parks REIT

Target

ICICI Securities Limited

The Embassy Office Parks REIT (Embassy REIT) delivered a resilient Q3FY23 performance with same-store office portfolio occupancy levels remaining flattish QoQ at 88% and NOI remaining flat QoQ at Rs7.0bn.

Axis Direct increased Buy price target of Embassy Office Parks REIT to 450.0 on 30 Apr, 2025.

Embassy Office Parks REIT

30 Oct 2022

381.94

0.51%

Result Update:Embassy Off.REIT

Buy: Embassy Office Parks REIT

Target

Axis Direct

Technology and Finance sectors are adding more growth to the company. We recommend a BUY rating on the stock with a target price of Rs 400.

Embassy Office Parks.. has an average target of 434.33 from 3 brokers.

Embassy Office Parks REIT

25 Oct 2022

381.94

0.51%

Embassy REIT to invest Rs 2,200 cr in 4 yrs to develop new office buildings

Business Standard

Embassy Office Parks REIT will invest around Rs 2,200 crore in the next four years to develop premium workspaces as it sees tremendous growth potential in office market despite global recessionary concerns, its CEO Vikaash Khdloya said. In an interview with PTI, he said the office demand in India would remain strong as large global companies want to open offices in India because of the huge availability of a cost-efficient talent pool and cheap rentals for premium workspaces. This trend would only strengthen amid global recessionary fears, which will lead to increased outsourcing of work to India, Khdloya said. Bengaluru, which is its core market with a significant presence, is leading the resurgence of India's office market that suffered a setback during the COVID pandemic, he added. Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by global investment firm Blackstone and Bengaluru-based realty firm Embassy group. It has a completed portfoli

Embassy Office Parks.. has an average target of 434.33 from 3 brokers.

Is Embassy Office Parks REIT worth buying?

734 Votes:

Buy 70.44%

Sell 16.62%

Hold 12.94%

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