Embassy Office Parks, India's maiden Real Estate Investment Trust (Reit), received a positive response from the market on debut. On Monday, the share price of Embassy Office Parks Reit climbed as much as 8.3% intra-day before trimming gains to still end 4.7% higher at Rs 314.10 on the bourses. Portfolio of Embassy Office Parks comprises seven office parks and four prime city-centre office buildings with total office space of 32.7 million square feet. These Indian entities include Pune-based Panchshil, Mumbai's K Raheja Corp, Indiabulls Real Estate and Hyderabad's Salarpuria Sattva Group. Following the success of Embassy Office Parks Reit, HDFC chairman Deepak Parekh said that two to three companies have already approached the mortgage lender to be an investor for such issues over the next 12 months.

Source: dna April 01, 2019 23:37 UTC