FY26 Revenue up 16% YoY; NOI up 18% YoY; Rs 21,019 million distributions since listing in Aug’25
Mumbai, India, May 14: Knowledge Realty Trust, India’s largest1 and most geographically diverse office REIT, announced its quarterly and year ended March 31, 2026, results, today.
KRT was included in FTSE All World, All Cap and Nareit Global REITs indices in FY26, reflecting growing global investor recognition. The company also saw broadening participation across investor classes, with the unitholder base more than doubling since listing.
Business Highlights:
•AI resilient portfolio backed by three attributes – 45% of gross rentals from GCC occupiers; Negligible exposure to traditional IT Services sector; and 31% of portfolio value in Front Office assets
•In Q4 FY26, achieved gross leasing of 1.1 million square feet taking cumulative leasing for FY26 to 3.5 million square feet and portfolio occupancy to 92%
•In FY26, in-place rents grew 7% YoY and achieved strong leasing spreads of 26%
•Rents achieved on new leasing in FY26 were at 5% premium to market rents reflecting superior asset quality and embedded pricing power
•Front office demand drove Central Mumbai portfolio occupancy up 10% YoY. Rentals achieved for leasing during the year up 27% YoY
•Expansions by existing tenants contributed to 56%2 of new leasing done in FY26, evidencing strong occupier satisfaction and long-term relationships
•Achieved annual escalations in over 87% of FY26 leasing
•Sizeable mark-to-market potential of 25% supported by a well-phased lease expiry profile
•Commenced construction of a new 1.4 million square feet block at Sattva Global City in Bengaluru, over and above existing under construction portfolio of 1.2 million square feet
Financial / Distribution Highlights:
•FY26 Revenue grew 16% YoY to Rs. 45,772 million. NOI up 18% YoY to Rs. 40,484 million translating to NOI margin of 88%
•Raised debt of Rs 42,000 million in FY26 at a blended cost of 7.3%
•During FY26, high-cost debt replacement, rate re-negotiations & rate cuts reduced cost of debt from 8.6% to 7.2% • Low LTV of 18% enables significant headroom for inorganic growth
•Declared distributions of Rs 7,166 million or Rs 1.62 per unit for Q4 FY26 taking cumulative distributions since listing in Aug’25 to Rs 21,019 million or Rs 4.74 per unit.
Shirish Godbole, Chief Executive Officer of Knowledge Realty Trust, said,
“We are delighted to report strong FY26 operating performance and robust distributions of Rs. 21,019 million (Rs. 4.74 per unit since listing. We are happy to inform that KRT was included in FTSE All World, All Cap and Nareit Global REITs indices in FY26, reflecting growing global investor recognition. Encouragingly, we continue to see broadening participation across investor classes, with our unitholder base more than doubling since listing. We enter FY27 with strong operating momentum, a resilient balance sheet and multiple visible growth levers.”
Quaiser Parvez, Chief Operating Officer of Knowledge Realty Trust, said,
“During FY26, we saw robust leasing momentum led by expansions from existing marquee tenants, resulting in revenue growth of 16% YoY. NOI grew 18% YoY to Rs. 40,484 million with industry-leading margins. We achieved cumulative leasing of 3.5 million square feet for the year ended March 2026 at an average spread of 26% driven by global and domestic occupiers. With an AI resilient portfolio representing one of India’s finest Grade-A office ecosystems, concentrated in the strongest markets of the country, we are well positioned to deliver sustainable growth to our unitholders.”
Investor Materials and Quarterly Investor Call Details
Knowledge Realty Trust has released a package of information on the results and performance, which includes an earnings presentation covering Q4 & FY26 results. All these materials are available in the Investor Relations section of our website at www.knowledgerealtytrust.com. Knowledge Realty Trust will host a conference call on Wednesday, May 13, 2026, at 16:30 hours Indian Standard Time to discuss the Q4 & FY26 results. A replay of the call will be available in the Investor Relations section of our website at www.knowledgerealtytrust.com.