Knowledge Realty Trust Achieves 3.5 Million sq ft Leasing in FY26
Knowledge Realty Trust leases over 3.5 million sq ft in FY26
The Economic TimesImage: The Economic Times
Knowledge Realty Trust, a listed Real Estate Investment Trust (REIT) in India, successfully leased over 3.5 million sq ft of office space during the financial year 2025-26, reflecting strong demand from both global and domestic tenants. The REIT reported a 16% increase in revenue, reaching ₹4,577.2 crore.
- 01Knowledge Realty Trust leased over 3.5 million sq ft of office space in FY26.
- 02The REIT's revenue increased by 16% year-on-year, totaling ₹4,577.2 crore.
- 03Portfolio occupancy rose to 92%, with 56% of leasing from existing tenants.
- 04In-place rents increased by 7% year-on-year, with new leases at a 5% premium to market rates.
- 05The company commenced construction on a new 1.4 million sq ft office block in Bengaluru.
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Knowledge Realty Trust, a prominent Real Estate Investment Trust (REIT) based in Mumbai, reported leasing of over 3.5 million sq ft of office space during the financial year 2025-26, driven by strong demand from both global and domestic occupiers. The January-March quarter alone accounted for over 1.1 million sq ft of this total. The REIT's revenue surged by 16% year-on-year to reach ₹4,577.2 crore, with net operating income (NOI) increasing by 18% to ₹4,048.4 crore, resulting in a high NOI margin of 88%. COO Quaiser Parvez highlighted the REIT's AI-resilient portfolio, which is concentrated in India's strongest markets, positioning it for sustainable growth. The company declared distributions of ₹716.6 crore, or ₹1.62 per unit, for the fourth quarter, bringing cumulative distributions since its listing in August 2025 to ₹2,101.9 crore. Notably, over 45% of gross rentals are derived from global capability center (GCC) occupiers, with occupancy in Central Mumbai increasing by 10% year-on-year. The REIT also initiated construction of a new 1.4 million sq ft office block in Bengaluru and successfully reduced its overall cost of debt from 8.6% to 7.2%.
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The strong leasing activity and revenue growth indicate a robust demand for office spaces, which could lead to more job opportunities and economic growth in the regions where Knowledge Realty Trust operates.
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