Embassy Office Parks REIT Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 25, 2023 at 02:47 am EST
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Embassy Office Parks REIT reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 8,654.34 million compared to INR 7,409.29 million a year ago. Revenue was INR 9,066.8 million compared to INR 7,697.76 million a year ago. Net income was INR 1,632.08 million compared to INR 2,082.14 million a year ago. Basic earnings per share from continuing operations was INR 1.72 compared to INR 2.2 a year ago. Diluted earnings per share from continuing operations was INR 1.72 compared to INR 2.2 a year ago.
For the nine months, sales was INR 25,519.19 million compared to INR 22,137.57 million a year ago. Revenue was INR 26,630.77 million compared to INR 23,066.78 million a year ago. Net income was INR 4,705.12 million compared to INR 6,092.03 million a year ago. Basic earnings per share from continuing operations was INR 4.96 compared to INR 6.43 a year ago. Diluted earnings per share from continuing operations was INR 4.96 compared to INR 6.43 a year ago.
Embassy Office Parks REIT (Embassy REIT) is an India-based real estate investment trust. Embassy REIT owns and operates 45.4 million square feet (MSF) of nine infrastructure-like office parks and four city-center office buildings in Indiaâs office markets of Bengaluru, Mumbai, Pune, and the National Capital Region. Embassy REITâs portfolio comprises 36.5 MSF of completed operating area and is home to over 255 companies. The portfolio also includes strategic amenities, including four operational business hotels, two under-construction hotels, and a 100 MW solar park that supplies renewable energy to occupiers. Embassy REIT segments include Commercial Offices, Hospitality and Other. Embassy REIT portfolio properties include Embassy Manyata, Embassy TechVillage, Embassy One, Embassy Business Hub, Express Towers, Embassy 247, Embassy TechZone, FIFC, Embassy Quadron, Embassy Qubix, Embassy Oxygen, Embassy Galaxy, Four Seasons at Embassy One, Embassy Splendid TechZone and others.