Dear Unitholders,
I am delighted to present Embassy REIT's FY2025 Annual Report,
marking six years since our listing as India's first Real Estate Investment Trust.
Over these six years, Embassy REIT has transformed the scale and
strength of its platform. We have leased 26.2 mn square feet (msf), acquired 17.0 msf of
high-quality assets, and delivered 8.0 msf of new developments. Our portfolio has grown
from 33 msf at listing to over 51 msf today, making us India's largest listed office
REIT by a significant margin. Alongside this, our occupier base has expanded by 65%, from
165 to over 270 leading global and Indian enterprises. Most importantly, we have
distributed over H12,000 crores to our unitholders, a testament to the enduring value and
income-generating strength of our platform.
FY2025 was another year of strong performance, driven by robust demand
for high-quality workspaces and the continued expansion of Global Capability Centers
(GCCs) across India.
India today stands out as a beacon of opportunity. The country's
deep talent pool, rising digital infrastructure, and favourable demographics continue to
attract global corporations and long-term capital. In this landscape, Embassy
REIT remains a critical enabler of India's growth story.
At the intersection of global i n v e s t m e n t , i n s t i t u t i o
n a l governance, and real estate innovation, REITs are now firmly established in
India's financial and commercial landscape. As the country's first and largest
office REIT, Embassy REIT has consistently set the benchmark, delivering value to
unitholders, powering business growth, and redefining how workplaces are developed and
experienced.
What we have built is more than a portfolio of offices. It is a
platform that fuels the ambitions of some of the world's most respected companies.
Our office parks are home to a thriving ecosystem of technology, life sciences,
engineering, and financial services firms, all driving innovation and employment at scale.
In supporting these enterprises, we also advance the broader goals of urban
infrastructure, job creation, and sustainable development.
Looking ahead, the long-term opportunity remains compelling.
India's demographic advantage, digital edge, and strong macroeconomic fundamentals
continue to attract global attention. The commercial real estate sector, and within it,
institutional platforms like Embassy REIT, will play a central role in this decade of
growth.
On behalf of the Board of Directors, I thank you, our valued
unitholders, for your continued support and trust. I also commend the leadership team for
navigating the year with clarity and ambition. As we look ahead, I am confident that
Embassy REIT will continue to play a leading role in shaping the future of work in India.
Jitendra Virwani
Chairman