Embassy REIT Launches New Buildings totalling 0.9 msf in Pune

Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) ('Embassy REIT'), India's first publicly listed real estate investment trust and Asia's largest by area, announced today that it has successfully launched two office towers, Hudson and Ganges, which upon delivery add 0.9 million square feet ('msf') in the iconic Embassy TechZone spread across 68 acres in Pune's Hinjewadi micro-market. Embassy TechZone currently has six operational towers of 2.2 msf which caters to the needs of 18 global and Indian occupiers and over 14,000 employees.

Vikaash Khdloya, Deputy CEO & Chief Operating Officer of Embassy REIT, said, "Back to office trends continue to be encouraging across our 33.8 msf operating portfolio. Pune is a key market to access talent for our global occupiers, and we are pleased to launch additional 0.9 msf which is currently in advanced stages of completion. We continue to be focused on growing our portfolio and operating income given the encouraging demand trajectory and are well placed to finance our growth given our balance sheet strength."

The new Hudson and Ganges office towers at Embassy TechZone, Pune are currently in advanced stages of development completion, and are winners of iNFHRA Workplace Excellence award in Innovation Technology. Apart from state-of-the-art design, efficient floor plates, modern look and feel, these buildings are LEED Gold pre-certified and incorporate sustainability and employee wellness design aspects. The buildings are equipped with a zero-discharge sewage treatment plant and have planned for electric vehicle charging points and rooftop solar panels to push towards our '75/25 Renewable' energy plan. Current and announced infrastructure initiatives, including improved access through road and Metro, further enhances their appeal to employees and global occupiers.

Shares of Embassy Office Parks REIT was last trading in BSE at Rs. 385.17 as compared to the previous close of Rs. 386.52. The total number of shares traded during the day was 3846 in over 295 trades.

The stock hit an intraday high of Rs. 388.99 and intraday low of 384.47. The net turnover during the day was Rs. 1489119.00.

Source : Equity Bulls

Keywords

EmbassyOfficeParksREIT EmbassyREIT EmbassyTechZone Hinjewadi Pune OfficeSpace Hudson Ganges