Embassy Office Parks REIT raises leasing guidance after one of its best quarters ever

Embassy REIT Leases 2.1 Million Square Feet in Q2 FY2025, Grows Revenue by 12% YoY.

Embassy Office Parks - India's first publicly listed REIT - has raised its leasing guidance higher to 6.5 million sq feet, after clocking one of its best quarters ever, thanks to heavy leasing activity by Global Capability Centers (GCCs).

Embassy REIT leased 2.1 million square feet during Q2FY25, growing its revenue by 12% on year, raising the occupancy level to 90% in value. Global Capability Centers (GCCs) accounted for around 50% of the leasing activity during September quarter, with Bengaluru leading the demand, contributing 77% to the total leasing activity.

"With a record 4 msf of leasing in the first half of FY2025, and a robust pipeline for the rest of the year, we are pleased to revise our leasing guidance upwards to 6.5 msf," Aravind Maiya, Chief Executive Officer of Embassy REIT said.

According to Embassy REIT, 75% of its current portfolio and 80% of the active developments are currently focused in Bengaluru.