Embassy Office Parks REIT to gain from Covid-19 situation, says CEO

While the Covid-19 pandemic has resulted in an uncertain near-term outlook for many businesses worldwide, Holland said Embassy REIT is uniquely positioned to weather the pandemic

Embassy Office Parks REIT has reported a 10 per cent year-on-year rise in net operating income for the quarter ended March at Rs 461.8 crore. India’s first listed Real Estate Investment Trust (REIT) reported 8 per cent growth in revenue at Rs 543.9 crore,
said the company.

The company declared a distribution of Rs 531.7 crore or Rs 6.89 per unit for the fourth quarter of FY20. It also said that Covid-19 did not have an impact on rent, and collections from office occupiers remained strong at 92 per cent for April.