Realty firm Embassy REIT's net profit up fivefold at Rs 280 cr in Q4

Net operating income grew to Rs 2,491 crore, 5 per cent higher than initial guidance, with an operating margin of 84 per cent in Q4

Office space company Embassy REIT said on Thursday its net profit rise increased fivefold to Rs 280 crore in the quarter ended March, compared to the year-ago period. Consolidated revenue from operations increased 2 per cent to Rs 783 crore in the same period.

The realty major said that it leased 2.2 million square feet at 18 per cent positive spreads and achieved a rent escalation of 14 per cent on 7.7 msf across 89 deals in the March quarter (Q4).

Embassy’s net operating income grew to Rs 2,491 crore, 5 per cent higher than initial guidance, with an operating