Embassy REIT Delivers Robust 17% YoY Revenue Growth in Q3 FY2026; Evaluates Acquisition of Embassy Zenith, a 0.4 MSF Prime Office Asset in Bengaluru

• Leased 1.1 million square feet (msf) across 22 deals in Q3 FY2026, taking total leasing to 4.6 msf year-to-date
• Delivered strong double-digit YoY growth, reporting highest-ever Revenue (up 17% YoY) and Net Operating Income (up 19% YoY)
• Declared distributions of Rs. 613 crores or Rs. 6.47 per unit for Q3 FY2026, up 10% YoY
• Received an invitation to offer to acquire Embassy Zenith, a 0.4 msf prime office tower in Bengaluru, fully leased to a multi-trillion-dollar global technology company
• Launched the third redevelopment at Embassy Manyata for 0.8 msf at a 23% yield on cost; ​total development pipeline stands at 7.6 msf
• Expanded hospitality portfolio with a proposed addition of 116-Key Hotel at Embassy TechZone, Pune

BENGALURU, India--(BUSINESS WIRE)--Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the third quarter ended December 31, 2025.

Amit Shetty, Chief Executive Officer of Embassy REIT, said,

“Q3 FY2026 marked another strong quarter for Embassy REIT, underpinned by sustained leasing momentum, robust GCC demand across our gateway markets, and disciplined financial execution. We delivered 4.6 msf of leasing year-to-date, reported our highest-ever Revenue and NOI, announced our first third-party acquisition and continued to enhance distributions for our unitholders. The invitation to offer for Embassy Zenith reflects our focus on acquiring high-quality, income-accretive assets that strengthen our world-class portfolio and create long-term value.”

The Board of Directors of Embassy Office Parks Management Services Private Limited (EOPMSPL), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of Rs. 613 crores or Rs. 6.47 per unit for the quarter. The record date for the Q3 FY2026 distribution is February 11, 2026, and the distribution will be paid on or before February 18, 2026.

Business Highlights

• Leased 1.1 msf across 22 deals, including 0.8 msf of new leases at 17% re-leasing spreads; signed at an average 5% premium to market rents, with Bengaluru contributing over two-thirds of total leasing
• Strong traction in Chennai from large global companies, anchoring 42% of the REIT’s development pipeline
• Overall portfolio occupancy stood at 94% by value, with 3 out of 5 cities at or above 95% occupancy

Financial Highlights

• Grew Revenue from Operations by 17% YoY to Rs. 1,193 crores and Net Operating Income (NOI) by 19% YoY to Rs. 985 crores
• Delivered quarterly distributions of Rs. 613 crores or Rs. 6.47 per unit, up 10% YoY
• Raised Rs. 400 crores through a commercial paper at an effective rate of 6.44% per annum. Reduced in-place cost of debt by 61 bps (over 9 months) to 7.29%
• Hotel segment NOI grew by 13% YoY, driven by 100 bps increase in occupancy to 60% as well as 11% growth in ADR

Operational & Growth Highlights

• Delivered 0.4 msf new development at Embassy Splendid TechZone in Chennai, 100% leased to a global healthcare firm
• Launched third redevelopment project of 0.8 msf at Embassy Manyata in Bengaluru at a 23% yield on cost
• Proposed addition of a 116-key hotel at Embassy TechZone, Pune, to enhance park ecosystem
• Announced third-party acquisition of a 0.3 msf marquee office asset at Embassy GolfLinks in Bengaluru
• Completed Rs. 530 crore divestment at Embassy Manyata in Bengaluru
• Delivered ~25% total returns in CY2025, while expanding the unitholder base to over 125,000, up from 4,000 at IPO

Investor Materials and Quarterly Investor Call Details

Embassy REIT has released a package of information on the quarterly results and performance, that includes (i) unaudited standalone and consolidated financial results for the nine months ended December 31, 2025 (ii) an earnings presentation covering Q3 FY2026 results and, (iii) supplemental operating and financial data book that conforms with leading reporting practices across global REITs. All these materials are available in the Investors section of our website at www.embassyofficeparks.com.

Embassy REIT will host a conference call on February 9, 2026 at 8:30 hours Indian Standard Time to discuss the Q3 FY2026 results. A replay of the call will be available in the Investors section of our website at www.embassyofficeparks.com.

About Embassy REIT

Embassy REIT is India’s first publicly listed Real Estate Investment Trust and the largest office REIT in Asia, by area. Embassy REIT owns and operates a portfolio of over 50 million square feet of world-class office spaces across India’s key gateway markets, including Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. The portfolio comprises 14 premium office ecosystems, including large, integrated office parks and city-centre office assets, and is home to approximately 280 leading global and domestic corporations. In addition to office assets, the portfolio includes strategic amenities such as four operational business hotels, two hotels under development, and a 100 MW solar park that supplies renewable energy to tenants. Embassy REIT’s industry-leading ESG programme has received multiple accolades from globally recognised institutions, including GRESB, USGBC LEED, the British Safety Council, among others. In 2023, Embassy REIT was included in the Dow Jones Sustainability Indices, becoming the first REIT in India to be recognised for its sustainability initiatives by a leading global benchmark. For more information, please visit www.embassyofficeparks.com.

Disclaimer

This press release is prepared for general information purposes only. The information contained herein is based on management information and estimates. It is only current as of its date, has not been independently verified and may be subject to change without notice. Embassy Office Parks Management Services Private Limited (“the Manager”) in its capacity as the Manager of Embassy REIT, and Embassy REIT make no representation or warranty, express or implied, as to, and do not accept any responsibility or liability with respect to, the fairness and completeness of the content hereof. Each recipient will be solely responsible for its own investigation, assessment and analysis of the market and the market position of Embassy REIT. Embassy REIT does not provide any guarantee or assurance with respect to any distribution or the trading price of its units.

This press release contains forward-looking statements based on the currently held beliefs, opinions and assumptions of the Manager. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of Embassy REIT or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Given these risks, recipients of this press release are cautioned not to place undue reliance on these forward-looking statements. The Manager disclaims any obligation to update these forward-looking statements to reflect future events or developments or the impact of events which cannot currently be ascertained. In addition to statements which are forward looking by reason of context, the words ‘may’, ‘will’, ‘should’, ‘expects’, ‘plans’, ‘intends’, ‘anticipates’, ‘believes’, ‘estimates’, ‘predicts’, ‘potential’ or ‘continue’ and similar expressions identify forward-looking statements. There can be no assurance that any potential opportunities will result in definitive transactions.

This press release also contains certain financial measures (including guidance and proforma information) which are not measures determined based on GAAP, Ind-AS or any other internationally accepted accounting principles, and the recipient should not consider such items as an alternative to the historical financial results or other indicators of Embassy REIT's cash flow based on Ind-AS or IFRS. These non-GAAP financial measures, as defined by the Manager, may not be comparable to similarly titled measures as presented by other REITs due to differences in the way non-GAAP financial measures are calculated. Even though the non-GAAP financial measures are used by management to assess Embassy REIT's financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipient should not consider them in isolation or as substitutes for analysis of Embassy REIT's financial position or results of operations as reported under Ind-AS or IFRS. Certain figures in this press release have been subject to rounding off adjustments. Actual legal entity name of occupiers may differ. Occupancy by value refers to occupancy of the commercial offices weighted by the Gross Asset Value (GAV) of completed commercial offices.