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Embassy Office Parks REIT (EMBASSY)₹419.97−0.48%Real Estate Investment Trusts (REITs)
In the Sep 2026 quarter (consolidated), Embassy Office Parks REIT reported sales of ₹1,298 Cr, up 15.9% from Sep 2025, and net profit of ₹834 Cr, up 257.8% year on year. For the year to Mar 2026, sales were ₹4,564 Cr and net profit ₹340 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 963 | 977 | 931 | 994 | 1,019 | 1,082 | 1,055 | 1,120 | 1,189 | 1,200 | 1,237 | 1,298 |
| Expenses | 228 | 234 | 230 | 370 | 258 | 777 | 239 | 256 | 277 | 302 | 282 | 323 |
| Operating Profit | 740 | 748 | 705 | 630 | 765 | 311 | 823 | 870 | 920 | 905 | 961 | 982 |
| OPM % | 76.1% | 76.1% | 75.1% | 63.1% | 75.0% | 29.1% | 77.1% | 77.1% | 77.1% | 75.1% | 77.1% | 75.1% |
| Other Income | 45.02 | 42.02 | 70.99 | 84.06 | 57.99 | 44.01 | 47.99 | 64.05 | 228 | 45.98 | 49.98 | 68.01 |
| Interest | 278 | 292 | 309 | 328 | 344 | 347 | 372 | 384 | 365 | 374 | 400 | 413 |
| Depreciation | 252 | 168 | 266 | 278 | 295 | 302 | 290 | 296 | 291 | 390 | 309 | 307 |
| Profit before tax | 254 | 329 | 200 | 106 | 182 | −296 | 208 | 252 | 490 | 186 | 301 | 330 |
| Tax % | 9.0% | 14.1% | 11.0% | −1,348.0% | 13.0% | −18.0% | 25.0% | 8.0% | 22.0% | 333.0% | 35.1% | −153.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 133 | 0.00 | 0.00 | 0.00 |
| Net Profit | 231 | 284 | 180 | 1,537 | 158 | −244 | 156 | 233 | 382 | −431 | 196 | 834 |
| EPS (Rs) | 2.42 | 2.98 | 1.88 | 16.11 | 1.66 | −2.55 | 1.63 | 2.44 | 4.01 | −4.53 | 2.05 | 8.76 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.00 | 2,186 | 2,449 | 3,041 | 3,518 | 3,802 | 4,025 | 4,564 | 4,925 |
| Expenses | 9.02 | 655 | 602 | 664 | 875 | 916 | 991 | 1,074 | 1,185 |
| Operating Profit | −9.02 | 1,543 | 1,860 | 2,394 | 2,664 | 2,907 | 3,056 | 3,515 | 3,768 |
| OPM % | — | 70.1% | 75.1% | 78.1% | 75.1% | 76.1% | 76.1% | 77.1% | 76.5% |
| Other Income | 0.00 | 168 | 115 | 132 | 109 | 161 | 255 | 385 | 392 |
| Interest | 0.00 | 382 | 646 | 829 | 977 | 1,087 | 1,329 | 1,495 | 1,552 |
| Depreciation | 0.00 | 529 | 571 | 797 | 1,129 | 886 | 1,784 | 1,266 | 1,298 |
| Profit before tax | −9.02 | 798 | 755 | 898 | 664 | 1,091 | 194 | 1,137 | 1,306 |
| Tax % | 0.0% | 4.0% | 7.0% | 1.0% | 24.0% | 11.1% | −742.0% | 70.0% | — |
| Exceptional items | 0.00 | 29.94 | 7.98 | 9.97 | 10.98 | 24.94 | 1.99 | 63.85 | 133 |
| Net Profit | −9.04 | 769 | 701 | 891 | 508 | 968 | 1,629 | 340 | 981 |
| EPS (Rs) | −0.11 | 9.91 | 7.36 | 9.36 | 5.33 | 10.16 | 17.11 | 3.56 | 10.29 |
| Dividend payout % | 0.0% | 243.0% | 296.0% | 235.1% | 412.0% | 213.1% | 136.0% | 2,150.1% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22,884 | 22,878 | 28,805 | 28,792 | 28,759 | 28,722 | 28,750 | 28,730 |
| Reserves | −8.98 | −593 | −1,729 | −2,934 | −4,453 | −5,546 | −6,056 | −8,039 |
| Borrowings | 7,867 | 5,763 | 10,687 | 12,167 | 14,883 | 17,009 | 20,016 | 22,594 |
| Other Liabilities | 5,982 | 5,452 | 7,366 | 7,198 | 7,225 | 7,160 | 6,247 | 7,101 |
| Total Liabilities | 36,724 | 33,499 | 45,128 | 45,225 | 46,413 | 47,347 | 48,957 | 50,386 |
| Fixed Assets | 26,756 | 26,996 | 37,453 | 38,898 | 38,455 | 39,891 | 41,791 | 43,218 |
| CWIP | 502 | 411 | 1,372 | 711 | 1,269 | 1,805 | 2,089 | 1,654 |
| Investments | 2,560 | 3,650 | 2,421 | 2,371 | 3,135 | 2,973 | 3,032 | 2,936 |
| Other Assets | 6,905 | 2,442 | 3,881 | 3,244 | 3,554 | 2,678 | 2,044 | 2,578 |
| Inventories | 1.01 | 1.01 | 1.01 | 1.01 | 4.01 | 5.01 | 5.01 | 4.01 |
| Trade receivables | 33.95 | 23.96 | 46.98 | 60.98 | 49.97 | 34.99 | 81.97 | 98.89 |
| Cash & equivalents | 5,119 | 343 | 945 | 613 | 877 | 1,030 | 679 | 982 |
| Total Assets | 36,724 | 33,499 | 45,128 | 45,225 | 46,413 | 47,347 | 48,957 | 50,386 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 3.01 | 1,701 | 1,875 | 2,374 | 2,571 | 2,596 | 3,086 | 3,532 |
| Cash from investing activity | 211 | −2,150 | −3,044 | −1,182 | −1,470 | −1,181 | −1,635 | −1,650 |
| Cash from financing activity | 4,756 | −4,205 | 1,781 | −1,517 | −871 | −1,219 | −1,795 | −1,571 |
| Net cash flow | 4,968 | −4,660 | 607 | −330 | 229 | 194 | −349 | 307 |
| Capex | 0.00 | 1,183 | 768 | 1,401 | 1,092 | 1,628 | 1,751 | 1,879 |
| Free cash flow | 2.99 | 512 | 1,102 | 965 | 1,474 | 975 | 1,331 | 2,200 |
| CFO / OP % | −32.9% | 120.1% | 104.1% | 106.1% | 101.1% | 93.1% | 106.0% | 107.1% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 4 | 7 | 7 | 5 | 3 | 7 | 8 |
| Cash conversion cycle | 4 | 7 | 7 | 5 | 3 | 7 | 8 |
| Working capital days | −175 | −151 | −149 | −584 | −472 | −640 | −532 |
| ROCE % | 4.0% | 4.0% | 5.0% | 4.0% | 5.0% | 4.0% | 6.0% |
For the Sep 2026 quarter, Embassy Office Parks REIT reported sales of ₹1,298 Cr, up 15.9% year on year and net profit of ₹834 Cr, up 257.8% year on year. The operating margin was 75.1%.
Embassy Office Parks REIT's sales for the year to Mar 2026 were ₹4,564 Cr; over the last twelve months they were ₹4,925 Cr.
Net profit for the year to Mar 2026 was ₹340 Cr, and ₹981 Cr over the last twelve months. Earnings per share over the same trailing period were ₹10.29.
Embassy Office Parks REIT reported borrowings of ₹22,594 Cr at Mar 2026, against cash and equivalents of ₹982 Cr.
Cash from operations was ₹3,532 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹2,200 Cr.