Embassy Office Parks REIT Q4 Review -  Near-Term Headwinds, Long Term Story Intact: ICICI Securities
Empty office space.  (Photographer: Alex Kraus/Bloomberg)

Embassy Office Parks REIT Q4 Review - Near-Term Headwinds, Long Term Story Intact: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

The Embassy Office Parks real estate investment trust delivered a resilient performance in Q4 FY21 with office rental collections of over 99% (similar to nine months FY21).

However, office portfolio occupancy declined by 170 basis points QoQ to 88.9% owing to lease expiries in Manyata asset.

Owing to the second Covid-19 wave in India, the Embassy REIT manager expects muted leasing activity for another two to three quarters with a possible revival in H2 FY22E, which is in line with our sector view.

Click on the attachment to read the full report:

ICICI Securities Embassy REIT Q4FY21 Results Update.pdf

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