Embassy Office Parks REIT (EMBASSY) — concall transcript | 30 June 2025

During the Q1 FY2026 earnings call, CEO Amit Shetty highlighted strong leasing of 2.0msf across 25 deals with 88% occupancy, reaffirming FY26 NOI guidance of ₹3,589-3,811 crores and DPU of ₹24.50-26.00. CFO Abhishek Agrawal reported ₹1,060 crores revenue, ₹872 crores NOI, ₹550 crores distributions, and ₹4,225 crores debt raised at 7.18% coupon. Management emphasized robust leasing momentum, including 1msf new leases at 38% re-leasing spreads, and plans to divest underperforming blocks like Embassy Manyata. Occupancy guidance remains at 90-91% for FY26, supported by 1.5msf active leasing pipelines and 5-7% rental growth in micro markets.