Embassy Office Parks REIT

NSE: EMBASSY · Realty

52W Range₹410 ₹462

Snapshot

Unlock Embassy Office Parks REIT's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Embassy Office Parks REIT is a real estate investment trust that owns and operates a portfolio of high-quality office parks and city-centre commercial properties across India. The company focuses on leasing and managing premium office spaces for corporate tenants.

Geography mix

  • NaN%

Business Model

The company generates revenue primarily through the leasing of commercial office spaces to a diverse base of multinational and domestic tenants. It operates as a REIT, distributing the majority of its net distributable cash flows to unitholders.

Growth Outlook

Growth is driven by the expansion of the existing office portfolio, rental escalations, and the acquisition of new commercial assets. Increased demand for high-quality, sustainable office spaces in major Indian metropolitan hubs supports long-term growth.

Key Risks

  • Occupancy Risk. A decline in demand for physical office space due to hybrid work models could lead to lower occupancy rates and reduced rental income.
  • Interest Rate Sensitivity. As a REIT, the company is sensitive to interest rate fluctuations, which can impact borrowing costs and the attractiveness of REIT units compared to other fixed-income investments.
  • Concentration Risk. The portfolio's performance is heavily dependent on the economic health of the technology and professional services sectors, which comprise a significant portion of the tenant base.
  • Regulatory Risk. Changes in real estate regulations, tax laws, or REIT-specific frameworks in India could adversely affect the company's operational structure and profitability.

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Key Metrics

REVENUE

₹2,963 Cr

TTM · consolidated

+25.5%YoY

NET PROFIT

₹888 Cr

TTM · consolidated

+27.2%YoY

EPS

₹9.38

TTM · consolidated

+5.7%YoY

RETURN ON EQUITY

3.3%

TTM · consolidated

+0.3 ppYoY

RETURN ON CAPITAL EMPLOYED

3.8%

TTM · consolidated

-0.2 ppYoY

P/E

46.8x

Q4 FY22 · consolidated

46.8 vs 56.2x5Y avg

EV/EBITDA

21.9x

Q4 FY22 · consolidated

21.9 vs 35.5x5Y avg

EBITDA MARGIN

81.9%

TTM · consolidated

-1.5 ppYoY

NET PROFIT MARGIN

37.3%

Q4 FY22 · consolidated

+31.0 ppYoY

DEBT TO EQUITY

0.5x

Q2 FY23 · consolidated

+0.04xYoY

Peers · Realty

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Embassy Office Parks REITEMBASSY
₹41,583 Cr46.7721.9025.5%81.9%3.3%3.8%
Knowledge Realty TrustKRT
₹49,883 Cr81.0%
Bagmane Prime Office REITBAGMANE
₹36,135 Cr
Mindspace Business Parks REITMINDSPACE
₹33,173 Cr72.1028.1576.0%2.8%4.4%
Brookfield India Real Estate TrustBIRET
₹28,364 Cr71.0%
Nexus SelectNXST
₹25,132 Cr67.0%

As of Q4 FY22

Financials