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Realty firm Embassy Office Parks REIT has raised Rs 1,000 crore through the issue of non-convertible debentures (NCDs) to a European bank. The amount would be used to refinance its existing debt. In a regulatory filing on Friday, the company said the amount has been raised through the issuance of three-year floating-rate NCDs, fully subscribed by a leading European multinational bank. The NCDs have been issued at an initial coupon rate of 6.97 per cent. The transaction marks the first financing by a scheduled commercial bank to an Indian REIT at the trust level, following the RBI's framework announced in June 2026 permitting commercial banks to finance REITs, it added. Amit Shetty, Chief Executive Officer of Embassy REIT, said, "This Rs 1,000 crore fund raise is a significant milestone for Embassy REIT and for the evolution of India's REIT market. Continued regulatory support from SEBI and RBI has strengthened access to long-term funding for REITs." Embassy REIT owns and operate
Embassy Office Parks REIT is bullish on demand for workspaces and plans to acquire 10-12 million sq ft of area over the next 3-4 years to expand its portfolio and grow business, a top company official said. Embassy REIT owns and operates a portfolio of over 52 million square feet of office spaces across Bengaluru, Mumbai, Pune, Delhi-NCR and Chennai. In an interview with PTI, Embassy REIT CEO Amit Shetty highlighted that demand for office spaces remains strong despite global uncertainties. He noted that foreign firms are actively leasing premium office spaces to set up Global Capability Centres (GCCs) across major cities. The coworking segment is also performing well due to high demand for managed flexible workspaces. To cater for this rising demand, Amit said the company is constructing 6.2 million sq ft of office spaces at a total cost of Rs 3,500 crore. That apart, the company is looking for inorganic growth as well. "We are looking at acquiring in the top five-six cities of t
Embassy Office Parks REIT on Thursday reported a 15 per cent increase in its net operating income to Rs 871.8 crore in the first quarter of this fiscal. Its net operating income stood at Rs 757.5 crore in the year-ago period. The company will distribute Rs 549.8 crore to unitholders for the April-June quarter, an increase of 4 per cent from the same quarter of the preceding year, according to a regulatory filing. During the June quarter, the company leased 2 million sq ft area, up 9 per cent annually. This included around 1 million sq ft of new leases, 3,60,000 square feet of renewals and 6,65,000 sq ft of pre-leases. The board also accepted the resignation of Ritwik Bhattacharjee as the Chief Executive Officer (Interim). He will continue as a Senior Advisor to Embassy REIT. It approved the appointment of Amit Shetty as the Chief Executive Officer with effect from August 1, 2025.
Embassy Office Parks REIT has successfully raised Rs 1,550 crore through the issue of debentures and term loans to refinance its existing debt and save interest costs. In a regulatory filing on Monday, the company said it has "raised Rs 1,550 crore through a combination of Non-Convertible Debentures (NCDs) and term-loan facilities". "The proceeds will be used to refinance certain existing debt, resulting in annual interest savings of approximately 113 basis points (bps)," it added. The fundraise comprises Rs 750 crore through NCDs, priced at a coupon of 6.97 per cent, and a Rs 800 crore term-loan from a leading bank that is priced at a floating interest rate of 7.40 per cent over a 15-year tenor. Ritwik Bhattacharjee, Chief Executive Officer of Embassy REIT, said, "This refinancing continues to support our strategy of optimally managing our balance sheet and positions us well to finance our future growth initiatives." Embassy REIT owns and operates a 51.1 million square feet portf