Embassy Office Parks Reit · NSE:EMBASSY.RR
Embassy Office Parks Reit — Shareholder Meeting (July 2025)
28 slides from Embassy Office Parks Reit's shareholder meeting presentation, Jul 2, 2025
Slide 1: Embassy Office Parks REIT 7th Annual Unitholders' Meeting
Embassy Office Parks REIT 7th Annual Unitholders’ Meeting July 02, 2025 Bengaluru 1
Slide 2: 6 Year Highlights
6 Year Highlights Central Garden, Embassy TechVillage, Bangalore
Slide 3: Embassy REIT – 6 Year Highlights
7th Annual Unitholders’ Meeting Embassy REIT – 6 Year Highlights Since listing in 2019, Embassy REIT has performed exceptionally across all parameters to create value for unitholders 63% 17.0 msf 8.0 msf 26.2 msf Increase in Completed Area Acquisitions(1) New Buildings Delivered(2) Gross Leasing(3)
Slide 4: FY2025 Highlights
FY2025 Highlights Hilton Hotel Complex, Embassy Manyata, Bangalore
Slide 5: FY2025 Highlights: Strong Financial Performance
7th Annual Unitholders’ Meeting FY2025 Highlights: Strong Financial Performance We Grew Revenue and NOI by 10% YoY, and Distributions by 8% Particulars FY2025 FY2024 Growth(%) Delivered on FY25 Distribution Guidance Distribution / Unit (₹) ₹22.4 – ₹23.1 Revenue FY25 DPU (₹ mn) 40,389 36,852 +10% Gui
Slide 6: World-Class Office Portfolio Firing On All Cylinders
7th Annual Unitholders’ Meeting World-Class Office Portfolio Firing On All Cylinders Bangalore, Mumbai and Chennai (85%+ of REIT’s value) are above 90% occupancy levels Occupancy (%)(2) Occupancy (%)(2) City Occupancy for Marquee Assets (Top 5)(3) FY25 FY24 Asset Contribution to Occupancy by Bangalo
Slide 7: Strong Leasing Outperformance on Sustained Demand
7th Annual Unitholders’ Meeting Strong Leasing Outperformance on Sustained Demand We leased 6.6 msf across 98 deals at 24% leasing spreads, and surpassed initial leasing guidance of 5.4 msf by 22% Area (msf) 8.1 6.6 msf Total Lease-up across 98 deals(1) 6.6 4.0 msf 5.1 5.4 msf New Lease-up at 37% 6.
Slide 8: GCCs Continue to Drive Demand
7th Annual Unitholders’ Meeting GCCs Continue to Drive Demand GCCs contributed to 61% of FY2025 leasing, primarily from Technology and Financial Services sectors FY2025 Leasing Driven by GCCs JP Morgan Rolls Royce GCCS / Key Multinationals GCCs 61% FY2025 Total Lease-up: 6.6 msf Others 39% Mercedes-
Slide 9: Great New Office Deliveries to Capture Occupier Mindshare
7th Annual Unitholders’ Meeting Great New Office Deliveries to Capture Occupier Mindshare In FY2025, we delivered 2.5 msf of new office buildings at our marquee assets in Bangalore Embassy Manyata M3 Block B, Bangalore (0.6 msf) Embassy TechVillage Block 8, Bangalore (1.9 msf) 100% Pre-leased to ANZ
Slide 10: Hospitality Business Continues to Grow Across Key Parameters
7th Annual Unitholders’ Meeting Hospitality Business Continues to Grow Across Key Parameters Operating hotel portfolio continued to grow strongly with 63% occupancy, 12% YoY ADR growth and FY2025 EBITDA of ₹2,298 mn (up 25% YoY) Revenue (₹ mn) & EBITDA (₹ mn) 5,039 4,363 3,394 2,298 1,841 982 609 23
Slide 11: Well-Diversified and Conservative Debt Book
7th Annual Unitholders’ Meeting Well-Diversified and Conservative Debt Book Option 1: ₹30 bn Bond at REIT Level and ₹15 bn LRD at Manyata to refinance ZCB at an average Total debt book of ₹198 bn well-balanced across diverse investor pools, debt instruments and tenures coupon rate of 7%, average mat
Slide 12: Active Debt Management to Optimize Cost of Capital
7th Annual Unitholders’ Meeting Active Debt Management to Optimize Cost of Capital Industry-leading cost of borrowing in a volatile interest rate environment 79% 78% 62% 61% 60% 51% 35% 10.00% 32% 9.61% 9.50% 30% 29% 28% 9.00% 25% 24% 8.50% 22% 8.00% 20% 7.82% 7.90% 7.81% 7.50% 15% 7.25% 15% 7.00% 6
Slide 13: Acquisition of Embassy Splendid TechZone in Chennai
7th Annual Unitholders’ Meeting Acquisition of Embassy Splendid TechZone in Chennai Completed the acquisition of a 5.0 msf premium business park located in Chennai’s fastest-growing office micro-market at an enterprise value of ₹12 bn 5.0 msf Total Leasable Area Chennai ~₹12 bn Enterprise Value(1) 9
Slide 14: Blue-chip Unitholder Base
7th Annual Unitholders’ Meeting Blue-chip Unitholder Base Unitholder base continues to expand and diversify since listing. Public float of 92% is well distributed among foreign and domestic institutions and retail unitholders Well-diversified Investor Base Increasing Acceptance of REIT as an Investm
Slide 15: Looking Ahead
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Slide 16: India | The Office to the World
7th Annual Unitholders’ Meeting India | The Office to the World India remains optimally positioned to drive global offshoring demand, led by favorable demographics, skilled talent availability and cost-efficient high-quality spaces offered in India’s gateway cities India’s Dual Structural Advantage
Slide 17: India Office – Occupier Driven Absorption
7th Annual Unitholders’ Meeting India Office – Occupier Driven Absorption Indian office market continues to shine. Gross Absorption in 2025 projected to beat last year’s record high of 74.4 msf, driven by continued demand from GCCs Demand and Supply Trends(1) 82.0 82.8 85.0 30% 74.4 75.0 65.5 67.1 6
Slide 18: Bangalore – India's Leading Office Market
7th Annual Unitholders’ Meeting Bangalore – India’s Leading Office Market On the back of sustained demand from GCCs, Bangalore continues to lead India’s office absorption which has resulted in continued rental growth in key micro-markets Balanced Demand-Supply Aiding Rent Growth Embassy REIT’s Strat
Slide 19: Multiple Embedded Growth Levers
7th Annual Unitholders’ Meeting Multiple Embedded Growth Levers Embassy REIT’s strategy capitalizes on multiple drivers to boost NOI and generate long-term total returns for its Unitholders Vacant area lease-up – occupancy expected to stabilize at pre-Covid 5.3 msf levels of mid-90s in the next fe
Slide 20: Embedded Rent Growth and Limited Upcoming Expiries
7th Annual Unitholders’ Meeting Embedded Rent Growth and Limited Upcoming Expiries Contracted rent escalations (generally ~15% every 3 years) and significant mark-to-market opportunity (10% blended MTM till FY2029) are key drivers for NOI growth Embedded Rent Escalations of 12%-15% aids NOI Growth 2
Slide 21: Active Best-in-Class Development Pipeline
7th Annual Unitholders’ Meeting Active Best-in-Class Development Pipeline Development pipeline of 6.1 msf with an expected 18% yield on cost Development Pipeline(1) (msf) Area (msf) 90%(2) 68% - 38% 3.2 2.5 1.4 2.2 0.9 1.9 0.6 1.4 FY2025 FY2026 FY2027 FY2028 Delivered New Development(1) Redevelopmen
Slide 22: Upcoming Office Deliveries in FY2026
7th Annual Unitholders’ Meeting Upcoming Office Deliveries in FY2026 Embassy Splendid TechZone Block 4, Chennai (0.6 msf) Embassy Splendid TechZone Block 10, Chennai (0.4 msf) Perspective Perspective Robust Leasing Pipeline Robust Leasing Pipeline Embassy Manyata Block L4, Bangalore (0.8 msf) Embass
Slide 23: Guiding to Double Digit Growth in FY2026
7th Annual Unitholders’ Meeting Guiding to Double Digit Growth in FY2026 FY26 NOI guidance of ₹35.9 bn to ₹38.1 bn and distributions guidance of ₹24.50 to ₹26.00 per unit, implying 13% NOI growth and 10% DPU growth YoY at the mid-point of guidance range Distributions (₹ per unit) NOI (₹ mn) FY26 DPU
Slide 24: Q&A
Q&A Embassy TechVillage, Bangalore
Slide 25: Resolutions for Unitholders' Approval
7th Annual Unitholders’ Meeting Resolutions for Unitholders’ Approval To consider, approve and adopt the Audited Standalone Financial Statements and Audited Consolidated Financial Statements of Embassy Resolution 1 REIT, together with the report of the Auditor thereon, and the Annual Report on Act
Slide 26: Key Terms & Definitions
7th Annual Unitholders’ Meeting Key Terms & Definitions Notes: 37. MNC – Multinational Corporation ► All figures in this presentation are as of March 31, 2025, unless otherwise specified 38. msf – Million square feet ► All figures corresponding to year denoted with “FY” are as of or for the one-year
Slide 27: Disclaimer
7th Annual Unitholders’ Meeting Disclaimer This presentation is issued by Embassy Office Parks Management Services Private Limited (the “Manager”) in its capacity as the Manager of the Embassy Office Parks REIT (“Embassy REIT”), for general information purposes only, without regards to the specific
Slide 28: Embassy REIT
= EMBASSY REIT 51.1 mst 5 14 272 TOTAL PORTFOLIO GATEWAY CITIES OFFICE PARKS BLUECHIP OCCUPIERS www.embassyofficeparks.com | ir@embassyofficeparks.com | C +91 80 4722 2222
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