InvestorQ : Do you think Embassy REITs is a good buy after the Jun-20 quarterly results?
sara Kunju made post

Do you think Embassy REITs is a good buy after the Jun-20 quarterly results?

Answer
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1 month ago


Embassy Office Parks REIT reported an 8% fall in net profits at Rs.204.23 crore for the Jun-20 quarter. Total revenues were down by just 1% at Rs.549 crore. The impact of COVID was very limited as most of the REIT properties are under long term lease contracts with reputed corporates and hence impact on flows has been very limited.

Even in the midst of challenging conditions, Embassy has managed to sign leases 5.26 lakh SFT, including 2.01 lakh SFT at market rents. Embassy expects a sharp spurt in demand for office space as businesses get back to normal functioning post COVID-19. Rental collections were close to 99%. Investors looking at real estate as a diversification can certainly celebrate the resilience shown in a tough quarter and look to invest.