The Embassy Office Parks REIT (Embassy REIT) delivered a stable performance in Q2FY24 with NOI of INR7.2bn (decline of 3% QoQ) and NDCF of INR5.2bn or INR5.5/unit. During the quarter, while gross leasing of 2.0msf was healthy, fresh exits of ~1msf mainly by third party IT/ITeS service providers led to same-store occupancy declining by 200bps QoQ to 85%.