New Research Reports

IPO NOTE

We maintain our BUY rating on the stock.

BIRET reported DPU of Rs 5.40 (+10.3% YoY), beating our estimates by ~1.8%, on the back of lower interest expense

Reported DPU of Rs 5.83 (+9.6% YoY), missing our estimates by -2.0% mainly due to lower occupancy and in-place rents

With a 14% upside from the CMP, we maintain our long-term BUY rating on the stock.

MINDSPACE reported DPU of Rs 5.83 (+13.2% YoY), +14% above our estimates, driven by a non-recurring adjustment to working capital

BIRET delivered DPU of Rs 5.25 (+14.1% YoY), beating our estimates by ~13%. NDCF was driven by lower interest expense and the use of cash.

IPO NOTE

IPO NOTE

With a 14% upside from the CMP, we maintain our long-term BUY rating on the stock.

Knowledge Realty Trust (KRT) own and manage high-quality office portfolio across India. The trust was established in Oct'24 with the objective to carry on the activity of a real estate investment trust, as permissible under the SEBI REIT regulations. KRT has a wide spread geographical presence with portfolio assets spread across 6 Indian cities. Its portfolio comprises 29 Grade A office assets across 6 city-center offices and 23 business parks/centers, totaling 46.3 msf as of Mar'25, with 37.1 msf of completed area, 1.2 msf of under construction area and 8.0 msf of future development area. Portfolio assets...

We attended Nexus Select Trust REIT’s (Nexus) recently held Analyst Meet. The company has unveiled its “Nexus 2.0: Re-imagining the Future” strategy.

With a 18% upside from the CMP, we maintain our long-term BUY rating on the stock.

Embassy Office Parks REIT’s (Embassy REIT) overall portfolio occupancy, as of Dec’24, was 87% – including infusion of 1.4msf Splendid Techzone, Chennai asset of 1.4msf from 1 Jun’24.