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Embassy Office Parks REIT
(EMBASSY)
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Rating:54Neutral
Price Target:
₹452.00
▲(3.09% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weaker recent cash generation, more volatile profitability, and higher leverage for an office REIT. Technicals are modestly supportive with the stock holding above key moving averages and neutral momentum, while valuation is a drag due to the very high P/E despite a solid dividend yield.
Positive Factors
Revenue Growth
Sustained ~13% top-line growth indicates ongoing demand for Embassy's Grade A office space and successful leasing execution. Recurring contractual rent streams from corporate tenants broaden the rent roll and support medium-term revenue predictability, providing a durable foundation for cash flows if leasing trends persist.
Negative Factors
Weak Cash Generation
A large drop in free cash flow and poor cash conversion versus reported earnings reduces actual distributable cash and heightens financing reliance. This weakens the REIT’s ability to self-fund capex or sustain distributions, increasing sensitivity to leasing cycles and the need for external financing or capital-raising over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained ~13% top-line growth indicates ongoing demand for Embassy's Grade A office space and successful leasing execution. Recurring contractual rent streams from corporate tenants broaden the rent roll and support medium-term revenue predictability, providing a durable foundation for cash flows if leasing trends persist.
Read all positive factors
Embassy Office Parks REIT (EMBASSY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹428.57B
Dividend Yield5.86%
Average Volume (3M)13.07K
Price to Earnings (P/E)109.4
Beta (1Y)0.21
Revenue Growth13.59%
EPS Growth-76.35%
CountryIN
Employees116
SectorGeneral
Sector StrengthN/A
IndustryREIT - Office
Share Statistics
EPS (TTM)3.57
Shares Outstanding947,893,740
10 Day Avg. Volume11,391
30 Day Avg. Volume13,066
Financial Highlights & Ratios
PEG Ratio-1.49
Price to Book (P/B)1.92
Price to Sales (P/S)8.52
P/FCF Ratio112.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹477.00Price Target Upside8.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)11.42
Revenue Forecast (FY)₹52.64B
Embassy Office Parks REIT Business Overview & Revenue Model
Company Description
This Real Estate Investment Trust (REIT) is actively engaged in comprehensive property management, encompassing the acquisition, divestiture, leasing, and ongoing operation of real estate assets, whether owned outright or held under lease. Its dis...
How the Company Makes Money
Embassy Office Parks REIT makes money primarily by leasing office space in its office park portfolio to domestic and multinational corporate tenants under contractual lease agreements. Its core revenue stream is rental income (including base rent ...
Embassy Office Parks REIT Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 46.76B | 40.02B | 38.66B | 33.42B | 28.89B |
| Gross Profit | 15.12B | 32.62B | 33.00B | 26.98B | 24.54B |
| EBITDA | 38.94B | 26.63B | 31.45B | 27.66B | 25.21B |
| Net Income | 3.39B | 16.24B | 9.64B | 5.06B | 8.88B |
Balance Sheet | |||||
| Total Assets | 503.98B | 489.48B | 473.76B | 464.12B | 451.96B |
| Cash, Cash Equivalents and Short-Term Investments | 10.54B | 6.45B | 10.14B | 6.33B | 5.85B |
| Total Debt | 225.35B | 215.33B | 169.59B | 148.42B | 121.36B |
| Total Liabilities | 296.18B | 261.87B | 241.02B | 220.43B | 193.09B |
| Stockholders Equity | 207.80B | 227.61B | 232.74B | 243.68B | 258.87B |
Cash Flow | |||||
| Free Cash Flow | 3.55B | 30.79B | 25.91B | 17.56B | 33.69B |
| Operating Cash Flow | 22.35B | 30.79B | 25.91B | 25.66B | 23.67B |
| Investing Cash Flow | -18.44B | -16.53B | -11.80B | -16.70B | -11.82B |
| Financing Cash Flow | -871.99M | -17.92B | -12.17B | -8.69B | -15.14B |
Embassy Office Parks REIT Technical Analysis
Positive
438.46
Price Trends
434.13
Positive
427.11
Positive
421.16
Positive
Market Momentum
2.85
Negative
52.06
Neutral
72.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EMBASSY, the sentiment is Positive. The current price of 438.46 is above the 20-day moving average (MA) of 438.02, above the 50-day MA of 434.13, and above the 200-day MA of 421.16, indicating a bullish trend. The MACD of 2.85 indicates Negative momentum. The RSI at 52.06 is Neutral, neither overbought nor oversold. The STOCH value of 72.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:EMBASSY.
Embassy Office Parks REIT Peers Comparison
UnderperformOutperform
Sector (55)
IN:EMBASSY
Embassy Office Parks REIT
440.45
77.38
21.31%
IN:BIRET
Brookfield India Real Estate Trust
344.69
46.66
15.65%
IN:MINDSPACE
Mindspace Business Parks REIT
497.76
96.46
24.04%
IN:NBCC
NBCC (INDIA) LIMITED
89.72
-15.23
-14.51%
IN:NHIT
National Highways Infra Trust Units
171.00
47.62
38.59%
IN:NXST
Nexus Select Trust
168.20
26.65
18.83%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.