Knowledge Realty Trust posts 15% year-on-year rise in Q1 revenue and net operating income for quarter ended June
AI Market Summary
Knowledge Realty Trust reported strong Q1 fundamentals: revenue and NOI rose 15% YoY, occupancy improved to 93%, and leasing activity delivered large positive spreads on new and renewal contracts. Distributions increased sequentially and leverage remains moderate with added fixed-rate debt, supporting financial resilience. While constructive for India office REIT sentiment, the news is largely idiosyncratic with limited spillover to broader global macro assets.
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Knowledge Realty Trust reported a 15% year-on-year increase in revenue and net operating income (NOI) for the quarter ended June, to Rs 1,243.1 crore and Rs 1,111.7 crore, respectively. The REIT declared a distribution of Rs 751.6 crore, translating to a distribution per unit (DPU) of Rs 1.70, up 5% sequentially. Portfolio occupancy stood at 93%, supported by 1.4 million sq ft of gross leasing in the quarter, with average leasing spreads of 35% on new leases and 29% on renewals.
