Embassy REIT clocks 11% growth in net income, declares Rs 2,058 cr dividend
Embassy Office Parks REIT on Thursday reported an 11 per cent increase in its net operating income at Rs 2,766.3 crore during the last fiscal year and declared distribution of Rs 2,057.9 crore dividend to unitholders.
Its net operating income stood at Rs 2491.1 crore in the 2021-22 fiscal.
The board of directors of Embassy Office Parks Management Services Pvt Ltd, Manager to Embassy REIT, at its board meeting declared a distribution of Rs 532 crore or Rs 5.61 per unit for the fourth quarter of the last fiscal.
The distributions of money to unitholders are in the form of dividend, interest and repayment of SPV level debt.
"With this, the cumulative distribution for FY'23 totals Rs 2,058 crore or Rs 21.71 per unit. The record date for the Q4 FY2023 distribution is May 6, 2023, and the distribution will be paid on or before May 12, 2023.
The company's revenue from operation rose to Rs 3,419.5 crore in the 2022-23 fiscal, from Rs 2,962.6 crore in the previous year.
Embassy REIT CEO .