Data from Embassy REIT’s disclosure has been updated into the India REITs table.

Embassy REIT’s revenue from operations and net operating income for FY2024 have each grown by 8% year-on year to INR3,6850 million (USD442 million) and INR2,9820 million respectively.

Underlining the growth was the REIT’s portfolio of assets, all of which are more than 90% occupied when taken on an aggregate basis.

Two of its assets are at 100% occupancy, while its Mumbai and Bengaluru properties are at 99% & 91% occupancy respectively, said the REIT.

Additionally, Embassy REIT’s hotel portfolio saw a 14% growth in average daily rate and an annual EBITDA of INR1840 million for FY2024.

On the back of these, Embassy REIT has declared distributions of INR2,0220 million or INR21.33 per unit for FY2024.

Embassy REIT was last done on the BSE at INR362.20, which presently implies a distribution yield of 5.89% according to data on the India REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.