Embassy Office Parks REIT Q3 Review - Resilient Show In Tough Times: ICICI Securities
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ICICI Securities Report
The Embassy Office Parks REIT delivered a resilient performance in Q3 FY21 with office rental collections of over 99% (similar to H1 FY21) and also achieved contracted rental increases of 15% on 1.5 million square feet of leasable area in Q3 FY21 and 13% rental increases on 5.3msf of area in nine months FY21.
During the quarter, the Embassy Tech Village right of first offer asset was injected into the REIT at an enterprise value of Rs 97.8 billion.
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