Embassy Office Parks REIT News
Embassy Office Parks REIT appoints Ritwik Bhattacharjee as interim CEO
Embassy Office Parks REIT on Thursday appointed Ritwik Bhattacharjee as its interim Chief Executive Officer (CEO) with immediate effect, following Sebi's order to suspend its CEO Arvind Maiya. On Monday, Sebi ordered the suspension of Maiya as the CEO of the Embassy REIT manager firm Embassy Office Parks Management Services, and the appointment of an interim CEO with immediate effect. Ritwik has been associated with the REIT since its listing and was a founding member of the team that helped list Embassy REIT in 2019. He last held the position of Chief Investment Officer at Embassy REIT. Before joining Embassy REIT, Ritwik spent over 12 years as an investment banker at global firms, including Nomura, Citi, UBS and JP Morgan. Embassy REIT is India's first publicly listed Real Estate Investment Trust. It owns and operates a 51.1 million square feet portfolio of 14 office parks in Bengaluru, Mumbai, Pune, the National Capital Region (NCR) and Chennai. Embassy REIT's portfolio compri
 "Embassy Office Parks REIT appoints Ritwik Bhattacharjee as interim CEO")
Embassy REIT declines 3% as CEO Aravind Maiya resigns post Sebi's order
Aravind Maiya's departure follows a directive from the Sebi to suspend him in an interim capacity
 "Embassy REIT declines 3% as CEO Aravind Maiya resigns post Sebi's order")
Embassy Reit Q2 revenue jumps 12% to Rs 997 crore, beats estimates
The total comprehensive income attributable to the unitholders stood at Rs 1,530.4 crore in comparison with the income of Rs 216.7 crore in Q2 FY24
 "Embassy Reit Q2 revenue jumps 12% to Rs 997 crore, beats estimates")
Embassy REIT Q1 results: Net operating income up 3% to Rs 757.5 cr
Embassy Office Parks REIT on Thursday reported a 3 per cent increase in its net operating income to Rs 757.5 crore in the June 2024 quarter and announced distribution of Rs 530.8 crore to unitholders. The net operating income (NOI) stood at Rs 737.6 crore in the year-ago period. 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 531 crore or Rs 5.60 per unit for the first quarter of 2024-25. "We are delighted to report another excellent quarter of strong leasing across our portfolio. We leased 1.9 million square feet this quarter, marking a 70 per cent YoY (year-on-year) increase, and we have a strong pipeline across Bengaluru, Noida and Chennai," Aravind Maiya, Chief Executive Officer of Embassy REIT, said. The company has strengthened its partnership with one of its largest occupiers through a new redevelopment project at Embassy Manyata in Bengaluru, he said. "Our distributions
 "Embassy REIT Q1 results: Net operating income up 3% to Rs 757.5 cr")
