Embassy Office Parks REIT - 542602 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Dear Sir/Madam, We have enclosed herewith the copy of the Newspaper Advertisements made in The Economic Times, Vijay Karnataka and Hindu Business Line on May 20, 2020 in connection with the approved audited Condensed Standalone and Condensed Consolidated Financial Results for the quarter and year ended March 31, 2020. Kindly take the same on record. Earnings Call Transcript - Q4FY20 for Embassy Office Parks REIT
Earnings Call Transcript for Embassy Office Parks REIT Q4FY20 earnings performance and outlook. Michael Holland Chief Executive Officer (CEO), Embassy REIT These are challenging times across the world and wherever you are, we sincerely hope that you, your family and colleagues are healthy and safe. Today we announced our fourth quarter and full year FY20 results – in a world which is exhibiting unprecedented uncertainty, we are pleased to report a great outcome for FY20, a Q4 distribution of Rs.5,317 million, that’s a total distribution for FY20 of Rs.18,821 million, ahead of our revised guidance last quarter, and an NOI growth of 15% YOY, all demonstrating the resilience of our business despite COVID related disruptions in March 2020. Our core business proposition of predictable, low volatility cash flows and quarterly distributions has delivered in FY20 what we said at the beginning of the year - a record 2.4 msf new leases, 15% YOY growth in NOI, early delivery and healthy pre-commitments on our 1.4 msf on-campus development, culminating in the strong distributions for our Unitholders. Notwithstanding this strong set of results for FY20, our full focus now is on our business today and the year ahead given the difficult external environment which has enveloped global and Indian markets since the COVID outbreak. In India, COVID-19 started to emerge as a potentially significant business disruptor in late February. We entered this crisis in a position of great strength, the result of a number of years of prudent and proactive management of the business. Our strong balance sheet, ample liquidity, the long term lease contracts with our 160+ corporate office occupiers, the strong relationships and trust we have built with them over the years and our first class on-ground operations teams across the country all contribute to the resilience of our platform, and surely that resilience will be required over the coming year. Since the outbreak and subsequent lock-down by government, our focus has been to facilitate business continuity for our occupiers operating critical services from our parks and ensuring the health, safety, and well-being of all our stakeholders. Our parks remained open for business to support core business functions of our occupiers throughout the national lockdown within the parameters laid out by the Central Government and the multiple States in which we operate. The many accolades from our occupiers reflect the hard work and unwavering commitment of our on-ground teams. We acknowledge and sincerely thank all of our front-line employees and service providers for their efforts to date. We are in very early stages of this global business disruption and there is a great deal of uncertainty, many views and speculative comments about potential impact of issues such as social distancing, work from home, workplace de-densification, business travel reductions, liquidity squeeze, and so on. In addition, we’re still operating in a restricted environment even today, and it is difficult to estimate with a reasonable level of certainty as to how long the current challenges will persist. However, amid this uncertainty, we have a positive view on a number of areas: Firstly, it is clear that a significant reduction in the densities of the workplace is coming, given increased priority to employee wellness, and this will drive demand. Some of this de-densification, but certainly not all, will be offset by more flexible workstyles including work from home. The work from home experiment in India has delivered in this crisis but my recent interactions with many corporate occupiers leads us to a preliminary assessment that while the industry may see more flexibility in employee workstyles, the total business environment which Embassy REIT provides to its occupiers and their employees cannot, in India, be fully replaced by solitary work from home changes. One business leader from a global corporation explained to me that, for his people, a young demographic of digital/tech experts serving cloud, cyber security and data needs of western corporations, the “office is their home”. Click on pdf to read full transcript Embassy Office Parks REIT - 542602 - Compliances-Reg. 54 - Asset Cover details
Dear Sir/Madam, Pursuant to Regulation 54(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note that the listed Secured Non-Convertible Debentures issued by Embassy Office Parks REIT and outstanding as on March 31, 2020 are secured to thefull extent by exclusive charge on receivables, pledge of shares and mortgage of immovable properties, wherever applicable. Kindly take the same on record. Embassy Office Parks REIT - 542602 - Compliances-Reg. 57 (2) - Undertaking that documents & intimation submitted to Debenture trustee
Dear Sir/Madam, Pursuant to Regulation 57(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby undertake that all documents and intimations required to be submitted to Debenture Trustees in terms of Debenture Trust Deed and Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, have been complied with during the Financial Year ended March 31, 2020. Embassy Office Parks REIT - 542602 - Outcome Of The Meeting Of The Board Of Directors Of The Manager Held On May 19, 2020
Outcome of the Meeting of the Board of Directors of the Manager held on May 19, 2020 Embassy Office Parks REIT - 542602 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
In compliance with Regulation 30 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform you that CRISIL has reaffirmed 'CRISIL AAA / Stable' rating on INR 36.5 billion NCDs of Embassy Office Parks REIT and have enclosed a copy of Press Release on the rating rationale. Kindly take the same on record. Embassy Office Parks REIT - 542602 - Earnings Conference Call For 4Q FY2020 Financial Results
We wish to inform you that Embassy Office Parks Management Services Private Limited will host earnings call on Tuesday, May 19, 2020 at 6:30 p.m. IST to discuss the financial results for the quarter and financial year ended March 31, 2020. Shortly after the call, we will host a playback of the call on the Investor Relations section of our website at www.ir.embassyofficeparks.com. All interested stakeholders may access the archive call till June 2, 2020. Embassy Office Parks REIT - 542602 - Fixes Record Date for Payment of Income Distribution
Embassy Office Parks REIT has informed BSE that the Company has fixed May 28, 2020 as the Record Date for the purpose of Payment of Income Distribution (subject to approval by the Board of Directors of Embassy Office Parks Management Services Private Limited) and the payment of distribution is proposed to be made on or before June 03, 2020. Embassy Office Parks REIT - 542602 - Board Meeting Intimation for Schedule Of Board Meeting For Considering The Financial Results For The Quarter And Year Ended March 31, 2020
Embassy Office Parks REIThas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 19/05/2020 ,inter alia, to consider and approve We wish to inform you that a Meeting of the Board of Directors of Embassy Office Parks Management Services Private Limited, the Manager to Embassy Office Parks REIT shall be held on Tuesday, May 19, 2020 through Audio-Visual electronic communication to, inter alia, consider and approve the following: i. Audited Condensed Standalone Financial Results for the quarter and year ended March 31, 2020 and Audited Standalone Financial Statements of Embassy Office Parks REIT for the year ended March 31, 2020 subject to report by the statutory auditors; ii. Audited Condensed Consolidated Financial Results for the quarter and year ended March 31, 2020 and Audited Consolidated Financial Statements of Embassy Office Parks REIT for the year ended March 31, 2020, subject to report by the statutory auditors and iii. Declaration of distribution to Unitholders of Embassy Office Parks REIT for the quarter ended March 31, 2020.