Embassy Office Parks Reit · NSE:EMBASSY.RR
Embassy Office Parks Reit — Investor Day (March 2026)
33 slides from Embassy Office Parks Reit's investor day presentation, Mar 12, 2026
Slide 1: Analyst Day March 12th & 13th 2026
ANALYST DAY MARCH 12th & 13th 2026 Bengaluru & Chennai
Slide 2: Disclaimer
Analyst Day 2026 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 objectives, fin
Slide 3: Event Itinerary
Analyst Day 2026 Event Itinerary Time (IST) Agenda Speaker(s) Day 1 (March 12, 2026) | Bengaluru Lalit Ahuja (Founder and CEO, ANSR) 10:00 AM - 10:30 AM In Conversation with | The Next Decade of GCCs in India Sunil Gopinath (CEO, Albertsons India) Jitu Virwani (Chairman, Embassy Group) 10:30 AM – 11
Slide 4: A 7-Year Recap
A 7-Year Recap Embassy Oxygen, Noida
Slide 5: Delivering Consistent Growth
Analyst Day 2026 Delivering Consistent Growth Since our listing, grew(1) NOI by around 104% and distributions by 27%, led by area expansion and rent growth Total Area (msf) In-place Rentals (₹ psf) 94 51.6 +49% +58% 63 32.7 At IPO Current At IPO Current (Mar'19) (Dec'25) (Mar'19) (Dec'25) NOI (₹ crs
Slide 6: Strong Acquisition Record
Analyst Day 2026 Strong Acquisition Record Acquired 6 assets totaling 17.3 msf and ₹14k crs in GAV(1) from Sponsors and third-parties, expanding our portfolio in Bengaluru and Chennai Embassy TechVillage, Embassy Business Hub, Pinehurst - Embassy GolfLinks, Bengaluru (9.7 msf) Bengaluru (1.4 msf) Be
Slide 7: Expansion Through Developments
Analyst Day 2026 Expansion Through Developments Delivered 9.4 msf of new office buildings since our listing, with over 70% of the deliveries in Bengaluru, our core market Area (msf) 58% 100% 6% 39% 79% 100% 100% 100% 96% 100% 98% 100% 2.5 2.2 0.7 1.4 1.3 1.1 2.5 0.6 0.9 0.4 1.4 1.1 0.8 0.9 0.9 FY202
Slide 8: Continued Leasing Momentum
Analyst Day 2026 Continued Leasing Momentum Leased 30.6 msf across 519 deals since our listing, with around 60% leased to Global Captive Centers Area (msf) 10.0 48% 50% 45% 56% 71% 61% 54% 95% 9.0 93% 8.1 93% 8.0 7.0 2.4 6.6 91% 90% 6.0 1.0 89% 5.1 5.0 4.6 89% 1.2 0.4 4.0 87% 87% 2.9 87% 3.0 86% 5.7
Slide 9: Marquee GCC Tenant Roster
Analyst Day 2026 Marquee GCC Tenant Roster Strengthened our tenant register to 279 marquee names, including 100 GCCs operating across sectors GCC Sector Split (%)(1) Others, 15% Engineering & Manufacturing, 7% NOKIA Healthcare, 8% 65% Technology, 31% Gross Rentals from Global Captive Centers Kyndryl
Slide 10: Creating Value for Investors
Analyst Day 2026 Creating Value for Investors Since our listing, grew our GAV by 102% and delivered total returns of 96% to our investors, including over ₹13,800 crores as distributions GAV(1) (₹ crs) Total Returns Since Listing(2) (%) ₹362 ₹446 6.8% 5.7% 12.4% 45% 96% +102% 63,980 51% 31,612 At IPO
Slide 11: Growth Outlook
Embassy Splendid TechZone, Chennai Growth Outlook
Slide 12: Strong Leasing Tailwinds
Analyst Day 2026 Strong Leasing Tailwinds Driven by global offshoring demand, India office absorption expected to continue creating new records, leading to further decline in vacancies 95 88 92 30% 85 msf+ 85 85 80 Estimated Gross Absorption per annum (Next 3Y)(1) 74 75 72 25% 64 64 65 61 59 57 53 5
Slide 13: Bengaluru – India’s Leading Office Market
Analyst Day 2026 Bengaluru – India’s Leading Office Market As India’s principal GCC destination, Bengaluru expected to continue leading India’s office absorption 30 110 114 120 27% 103 Bengaluru’s Expected Share in 25 96 100 Pan-India Leasing (Next 3Y)(1) 92 87 88 83 84 84 20 80 15 60 ~40% 25 Bengal
Slide 14: Embassy REIT Version 2.0
Analyst Day 2026 Embassy REIT Version 2.0 “Building Workplace Ecosystems that Elevate Lives” 14
Slide 15: Focus on Enhancing Unitholder Value
Analyst Day 2026 Focus on Enhancing Unitholder Value Well-positioned to deliver growth, led by multiple embedded organic levers, inorganic growth pipeline as well as debt optimization and capital recycling initiatives Organic Inorganic Growth Growth NOI Growth Efficient NOI to NDCF Flowthrough NAV G
Slide 16: Organic Growth Drivers
FIFC, Mumbai Organic Growth Drivers
Slide 17: Occupancy Uptick
Analyst Day 2026 Occupancy Uptick Occupancy expected to stabilize at pre-Covid levels of mid-90s, to be driven by lease-up of vacant areas, especially in Bengaluru and Pune 4.1 msf Portfolio Occupancy Total Vacant Area 90% Bengaluru 1.3 msf Completed Vacancy 95% 10% Pune Area: 41.1 msf 2.5 msf Stabi
Slide 18: Contracted Rent Escalations
Analyst Day 2026 Contracted Rent Escalations Embedded rent growth through 14% average contracted rent escalations on 39 msf of leases till FY2030 Area (msf) 14% 15% 14% 14% 14% 39 msf Total Area Due for Escalation till FY2030(1) 14% 13.5 Average Escalation(2) 9.8 8.7 5.3 ₹535 crs 1.7 Q4 FY2026 FY202
Slide 19: Significant MTM Opportunity
Analyst Day 2026 Significant MTM Opportunity NOI upside available through unlocking rent growth on 22% of the portfolio leases expiring till FY2030, with a 17% blended MTM Area (msf) 5% 18% 19% 21% 9% 8.2 msf Total Leases Due for Expiry till FY2030(1) 17% 3.3 Blended MTM Opportunity(2) 2.1 1.4 1.0 0
Slide 20: Active Development Pipeline
Analyst Day 2026 Active Development Pipeline Total office development pipeline of 7.6 msf across Bengaluru and Chennai, to result in 19% area expansion organically Area (msf) ₹4,000 crs 70% 35% 38% - Total Capex for Ongoing Office Developments 2.8 2.3 16% 2.0 Implied Yield on Cost 2.0 0.6 2.3 0.6 1.
Slide 21: Upcoming New Hotels
Analyst Day 2026 Upcoming New Hotels Additional 634 hotel keys planned across Bengaluru and Pune, further enhancing our park ecosystems Dual-branded Hilton Hotels at ETV 634 Keys Hotel Keys (#) 518 Total Additional Hotel Keys Micro Market ORR, Bengaluru Target Delivery Oct'26 ₹985 crs Bengaluru Pers
Slide 22: Organic Growth - Potential NOI Upside
Analyst Day 2026 Organic Growth - Potential NOI Upside Led by multiple embedded organic growth levers, opportunity to increase NOI to around ₹5.5k crs or a 50% upside(3) in the next few years Organic Growth Drivers Details NOI Upside(1) Occupancy Uptick 95% ₹150 crs Stabilized Occupancy Contracted R
Slide 23: Unlocking Growth through Redevelopments
Analyst Day 2026 Unlocking Growth through Redevelopments Opportunity to unlock further growth in our Bengaluru parks through new redevelopments by utilizing available FAR as well as premium FAR Utilizing Available FAR – 3 Projects Launched Already at Embassy Manyata New Premium FAR2Norms in Karnatak
Slide 24: Other Growth Drivers
Other Growth Drivers Hilton Embassy GolfLinks, Bengaluru
Slide 25: Inorganic Growth Pipeline
Analyst Day 2026 Inorganic Growth Pipeline ~13 msf of acquisition pipeline from Embassy Group and third parties, of which ~6 msf opportunity relates to consolidation in our existing parks Assets Area (msf) Location Embassy Zenith(1) 0.4 Bengaluru Embassy East Business Park(2) 3.3 Bengaluru Embassy W
Slide 26: Other Embassy Group Assets
Analyst Day 2026 Other Embassy Group Assets Embassy Group has a strong foothold across key office micro-markets, especially in Bengaluru Key Office Assets Area (msf) Location Phase III – Embassy Business Hub Upto 3.2 Bengaluru N2 Block - Embassy Manyata 2.5 Bengaluru Embassy East Business Park 2.2(1
Slide 27: Debt Optimization Initiatives
Analyst Day 2026 Debt Optimization Initiatives Active debt management aimed at managing comfortable debt levels, capitalizing on lower rates and staggering debt maturities 79% 78% 62% 61% 60% 51% 60% 26 24 30 22 23 22 38 35% 10.00% 32% 32% 9.61% 9.50% 30% 29% 28% 9.00% 25% 24% 8.50% 22% 8.00% 20% 7.
Slide 28: Capital Recycling Opportunity
Analyst Day 2026 Capital Recycling Opportunity Opportunity to recycle capital through potential divestment of our hotel portfolio encompassing 1,730 total keys(1) across Bengaluru and Pune Hilton at Embassy GolfLinks Hilton Hotels at Embassy TechVillage Four Seasons at Embassy One 7 Hotels(1) Bengal
Slide 29: Summary – Growth Outlook
Analyst Day 2026 Summary – Growth Outlook Well-positioned to deliver growth, led by multiple embedded organic levers, inorganic growth pipeline as well as debt optimization and capital recycling initiatives Organic Growth Inorganic Growth Debt Optimization Capital Recycling • Occupancy Uptick • Acqu
Slide 30: Governance Updates
Analyst Day 2026 Governance Updates Aim for best-in-class governance at Embassy REIT through appointment of 2 new independent directors and multiple other initiatives 75% of the Board Consists of Independent Directors Other Updates Board of Directors of the Manager to Embassy REIT Jitendra Virwani ➢
Slide 31: Q&A Session
Embassy TechVillage, Bengaluru Q&A Session
Slide 32: Glossary
Analyst Day 2026 Glossary Notes: 34. Manager – Embassy Office Parks Management Services Private Limited a) All figures corresponding to year denoted with “FY” are as of or for the one-year period ending (as may be relevant) March 31st of the respective year. Similarly, all figures 35. m - Meters cor
Slide 33: Investor Contact
INVESTOR CONTACT: Website: www.embassyofficeparks.com |Email: ir@embassyofficeparks.com |Office: +9180 4722 2222
Embassy Office Parks REIT — Investor Day (March 2026) on 6ix