Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the second quarter ended September 30, 2026.

Amit Shetty, Chief Executive Officer of Embassy REIT, said,

“We delivered an exceptional quarter, with 1.5 msf of leasing driven by continued GCC demand and healthy rental growth. The pre-lease at Embassy TechVillage at a 15% premium to market rents underscores the pricing power of our world-class office campuses. We are particularly encouraged by the renewed momentum in Pune, where leasing activity contributed to a 300-basis-point improvement in occupancy during the quarter. Our robust operating performance coupled with double-digit growth in revenue and NOI, enabled us to declare our highest-ever quarterly distributions. With strong business momentum and continued progress across our portfolio, we are well-positioned to capitalise on India’s structural office demand and deliver sustained growth for all our stakeholders.”

The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 670 crores or Rs. 7.07 per unit for Q2 FY2027. The record date for the Q2 FY2027 distribution is October 31, 2026, and the distribution will be paid on or before November 06, 2026.

Business Highlights

  • Leased 1.5 msf during the quarter, with GCCs driving 85% of leasing demand; new leases of 0.9 msf signed at an average 9% premium to market rents

  • Pre-leased an entire 0.5 msf building at Embassy TechVillage in Bengaluru to a global engineering company at a 15% premium to current market rents

  • Leased 0.2 msf across three Pune assets, contributing approximately 25% of new leasing during the quarter

  • Portfolio occupancy at 93% by value with Bengaluru, Chennai and Noida at 94% and Mumbai at 100%

Financial Highlights

  • Grew Revenue from Operations by 16% YoY to Rs. 1,303 crores and Net Operating Income (NOI) by 15% YoY to Rs. 1,069 crores

  • Delivered the highest-ever quarterly distributions of Rs. 670 crores or Rs. 7.07 per unit, representing 9% YoY growth

  • Raised Rs. 2,050 crores of debt at a blended interest rate of 7.14%, including a first-of-its-kind Rs. 1,000 crore financing – the first bank financing to an Indian REIT at the trust level under RBI’s new lending framework

  • Gross Asset Value (GAV) increased 16% YoY to ~Rs. 74,000 crores, while Net Asset Value (NAV) rose 18% YoY to Rs. 524.74 per unit, supported by higher market rents, new building additions and favorable valuation assumptions

Operational & Growth Highlights

  • Delivered a 0.6 msf office block at Embassy Splendid TechZone in Chennai, fully committed to a leading US GCC; current development pipeline of 5.6 msf in Bengaluru and Chennai

  • Hotel revenue grew 22% YoY in Q2, with a 10% increase in average daily rates (ADR). The newly opened Hilton Garden Inn at Embassy TechVillage achieved operating cash break-even within the first quarter of launch

  • Completed the acquisition of 8,048 sq. ft. of fully leased retail space at FIFC in Mumbai’s BKC, further consolidating ownership in this flagship asset

  • Included in the Nifty 500 and Nifty Midcap 150, becoming the only REIT in the latter, alongside other key NSE indices, marking a significant milestone in enhancing investor access to India’s growing REIT market

Investor Materials and Quarterly Investor Call Details

Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) standalone and consolidated financial results for the quarter and half-year ended September 30, 2026 (ii) an earnings presentation covering Q2 FY2027 results and, (iii) supplemental operating and financial data book that conforms with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.

Embassy REIT will host a conference call on October 29, 2026 at 08:30 hours Indian Standard Time to discuss the Q2 FY2027 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust and the largest office REIT in Asia, by area. Embassy REIT owns and operates a portfolio of ~53 million square feet of world-class office spaces across India’s key gateway markets, including Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. The portfolio comprises 14 premium office ecosystems, including large, integrated office parks and city-centre office assets, and is home to 281 leading global and domestic corporations. In addition to office assets, the portfolio includes strategic amenities such as five operational business hotels, two hotels under development, and a 100 MW solar park that supplies renewable energy to tenants. Embassy REIT’s industry-leading ESG programme has received multiple accolades from globally recognised institutions, including GRESB, USGBC LEED, the British Safety Council, among others. Embassy REIT also achieved a significant milestone with its inclusion in the Nifty 500 and Nifty Midcap 150, becoming the only REIT in the Nifty Midcap 150, alongside other key NSE indices. For more information, please visit www.embassyofficeparks.com.

Disclaimer

This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.

This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements. There can be no assurance that any potential opportunities will result in definitive transactions.

This press release also contains certain financial measures (including guidance and proforma information) which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT’s cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT’s financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT’s financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ. Occupancy by value refers to occupancy of the commercial offices weighted by the Gross Asset Value (GAV) of completed commercial offices.

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